Regulatory Alerts2021-01-01
Securities (Preferential Offer) (Amendment No. 2) Rules 2021
The Financial Services Commission has issued the Securities (Preferential Offer) (Amendment No. 2) Rules 2021 to amend the 2017 Principal Rules governing securities offerings. The amendments explicitly exclude securities offers made by collective investment schemes and closed-end funds, along with Permitted CIS Activities, from the application of these rules. Additionally, rule 8 restricts the definition of investor to those located in Mauritius, with all provisions taking effect on 4 September 2021.
2214 Government Notices 2021 Government Notice No. 224 of 2021 THE SECURITIES ACT Rules made by the Financial Services Commission under Section 155 of the Securities Act
- These Rules may be cited as the Securities (Preferential Offer) (Amendment No. 2) Rules 2021.
- In these Rules – “Principal Rules” means the Securities (Preferential Offer) Rules 2017.
- The Principal Rules are amended – (i) in rule 3, by inserting the following new paragraph and the existing paragraph being renumbered as paragraph (2) – (1) Unless otherwise provided in these Rules, these Rules shall not apply to an offer of securities by a collective investment scheme or a closed-end fund, nor shall they apply to the Permitted CIS Activities. (ii) in rule 8, in paragraph (1), by adding the words “in Mauritius” after the word “investor”.
- These Rules shall come into effect on 04 September 2021. Made by the Financial Services Commission on 04 September
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