RegAlert

Rule · FSC · 21 Sep 2023

Financial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2023

licensing
insurance

The Financial Services Commission issued the 2023 Amendment No. 2 Rules to modify licensing procedures and fee structures under the Financial Services (Consolidated Licensing and Fees) Rules 2008. The amendment introduces a new paragraph permitting two board-resolved officers to jointly grant licenses for insurance, private pension, and captive insurance schemes. It also updates the First Schedule to establish specific processing and annual fees for external pension schemes operating as protected cell companies, with the rules taking effect on 2 October 2023.

MauritiusFinancial Services Commission Mauritius

Nushrat / Imac 02 / Govt Notices / 2023 / The Income Tax (Amendment) Regulations 2023 - 05.07.2023 - 1st Proof_Ministry / SLO Government Notices 2023 637 Government Notice No. 135 of 2023 THE FINANCIAL SERVICES ACT FSC Rules made by the Financial Services Commission under
Section 93 of the Financial Services Act

  1. These Rules may be cited as the Financial Services (Consolidated
    Licensing and Fees) (Amendment No. 2) Rules 2023.
  2. In these Rules –
    “principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.
  3. Rule 6 of the principal Rules is amended, by inserting after
    paragraph (1), the following new paragraph – (1A) Notwithstanding paragraph (1)(d), the authority referred to in that paragraph may be given by 2 officers duly authorised by a resolution of the board of directors, where the application is for a licence under the Insurance Act, the Private Pension Schemes Act or the Captive Insurance Act.
  4. The First Schedule to the principal Rules is amended, in
    PART I under the heading “Private Pension Schemes” by
    adding the following new item – Code Licence Relevant
    section of
    Private Pension
    Schemes Act
    Processing Fee Variable
    Annual Fee
    PPS￾1.3Cv
    External
    Pension Scheme
    (protected cell company)
    12 USD 1,000 for the first cell, and USD 300 for every additional cell USD 100 per member

638 Government Notices 2023
5. These Rules shall come into operation on 2 October 2023.
Made by the Financial Services Commission on 21 September 2023.

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Financial Services (ConsolidatedLicensing and Fees) Rules 2008Not in RegAlertFinancial Services (Consolidated Licensing and Fees) Rules 2008 — Not in RegAlertFinancial Services(Consolidated Licensing and F…2023-09-21 · this documentFinancial Services (Consolidated Licensing and Fees) (Amendment No. 2) Rules 2023 (2023-09-21)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Amends
  • Financial Services (Consolidated Licensing and Fees) Rules 2008Not in RegAlert

    ““principal Rules” means the Financial Services (Consolidated Licensing and Fees) Rules 2008.”

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Source: Financial Services Commission Mauritius — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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