Regulatory Alerts2024-01-01
Financial Services (Determination of Application) Rules 2024
The Financial Services Commission of Mauritius issued these Rules to exempt specific financial licensing applications from Section 17B of the Financial Services Act. The Schedule explicitly covers Investment Banking, Securities Exchange, Trading Systems, Clearing and Settlement Facility, and Management Company licences, alongside applications requiring Registrar action or information under Sections 83 and 87. Defining the Registrar to encompass multiple corporate registries, these Rules take effect on 1 October 2024.
LEGAL SUPPLEMENT 2339 to the Government Gazette of Mauritius No. 101 of 28 September 2024 Government Notice No. 219 of 2024 THE FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under Sections 17C(2)(d) and 93 of the Financial Services Act
- These Rules may be cited as the Financial Services (Determination of Application) Rules 2024.
- In these Rules – ‘Registrar’ means the Registrar of Companies, Registrar of Foundations, Registrar of Limited Partnerships, or Registrar of Limited Liability Partnerships.
- Sections 17B of the Act shall not apply to an application or matter referred to in the Schedule to these Rules.
- These Rules shall come into operation on 1 October 2024. Made by the Financial Services Commission on 27 September
2340 Government Notices 2024 OliImac5 / Govt Notices 2024 / The Financial Services (Determination of Application) Rules 2024 2nd proof 26.09.24 SCHEDULE (Rule 3)
- Application for an Investment Banking Licence
- Application for a Securities Exchange Licence, Securities Trading Systems Licence or Clearing & Settlement Facility Licence
- Application for a Management Company Licence
- Where the application is subject to any action to be undertaken at the level of the Registrar
- Where the application is subject to any information sought under sections 83 or 87 of the Financial Services Act ––––––––––