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2013-01-01

Securities (Licensing) (Amendment) Rules 2013

The Financial Services Commission of Mauritius issued the Securities (Licensing) (Amendment) Rules 2013 to amend the principal licensing framework by introducing a new Rule 10A. This amendment mandates that all securities transactions involving Mauritian-listed entities must be executed through licensed investment dealers, who are further required to verify compliance with statutory restrictions and identify foreign investors. The rules commenced operation on 1 April 2013 to enforce these obligations across the securities exchange.

Mauritius

Financial Services Commission Mauritius

The text below is an internet version of the Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005 and is for information purpose only. Whilst reasonable care has been taken to ensure its accuracy, the authoritative version is the one published in the Government Gazette of Mauritius. SECURITIES (LICENSING) (AMENDMENT) RULES 2013 FSC Rules made by the Financial Services Commission under section 93 of the Financial Services Act 2007 and section 155 of the Securities Act 2005

Citation These Rules may be cited as the Securities (Licensing) (Amendment) Rules
Interpretation In these Rules- “principal Rules” means the Securities (Licensing) Rules 2007; “investment dealer” has the same meaning as in the Securities Act.
Principal Rules amended The principal Rules are amended by adding immediately after Rule 10, the following new Rule – 10A. Obligations of Investment Dealers (1) Any sale or purchase by or on behalf of an investor of securities in Mauritian companies or other Mauritian entities listed on a securities exchange licensed by the Commission shall be carried out through an investment dealer on the securities exchange. (2) No investment dealer shall execute any investment transaction if, to its knowledge, having made all reasonable enquiries, it would result in a breach of any restriction provided under any relevant Act.

(3) Investment dealers shall take all reasonable steps to determine whether a proposed investment transaction is to be made by or on behalf of a foreign investor. 4. Commencement These Rules shall come into operation on 01 April 2013. Made by the Financial Services Commission on 25 March 2013.