The Financial Services Commission of Mauritius ("FSC") has on the 22 October 2020 issued the Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020 (the "Rule") which provides for the revocation of the Financial Services (Exemption from Approval of Controllers and Beneficial Owners) Rules 2017 (the "Revoked Rule"). In that respect, the approval of the FSC under s.23(1) of the Financial Services Act will now be required for the issue or transfer of the type of shares that do not carry voting rights.
Please click HERE to access the Rule.
Please click HERE to access the Revoked Rule.
Originally Published by Axis, November 2020
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