Regulatory Alerts2013-01-01
Securities (Investment by Foreign Investors) Rules 2013
The Financial Services Commission of Mauritius issued the Securities (Investment by Foreign Investors) Rules 2013 to restrict foreign ownership in Mauritian Sugar Companies. Foreign investors must secure prior written Commission consent to hold fifteen percent or more of a sugar company’s voting capital, with investment dealers verifying transactions and notifying the Commission once foreign holdings reach ten percent. The Commission designates qualifying passive entities as exempt foreign investors, thereby relieving them from these ownership caps and notification requirements while retaining the authority to impose conditions or cancel exemptions.
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