Regulatory Alerts1994-01-01
Stock Exchange (Investment by Foreign Investors) Rules 1994
The Financial Services Commission promulgated these rules to regulate foreign investment in Mauritian securities companies, mandating prior written consent for acquisitions that could establish management control or push foreign ownership in sugar firms to 15 percent. Transactions must be cleared through licensed investment dealers or resident custodians, which are required to submit daily purchase and sale reports to the securities exchange. The Commission retains discretionary power to designate passive entities as exempt foreign investors, thereby waiving the 15 percent sugar company cap while preserving its right to attach conditions or revoke status upon non-compliance.
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