Any information relating to a new issue or transfer entailing a change in the beneficial ownership information must be filed with the Companies and Business Registration Department within 14 days of entry in the entity’s registers. Such information will only be disclosed to any third party in the following circumstances:

  • if required by the Beneficial Owner or the Ultimate Beneficial Owner;
  • for the purpose of an investigation, enquiry, or any similar matter;
  • if ordered by a Court of Law or the Judge in Chambers.

It is important to note that records of the existing beneficial ownership information must be communicated to the Companies and Business Registration Department at any time prior to or upon filing of the next annual return.

In relation to the said requirements, the term Beneficial Owner or Ultimate Beneficial Owner means a natural person who holds by himself or his nominee a share or interest in a share which entitles him to exercise not less than 20% of the aggregate voting power in a meeting of shareholders/partners or council members.

Share
Twitter LinkedIn Email Save as PDF
More News
10 Aug 2022 | News

The Mauritius Finance Miscellaneous Provision Act 2022

The measures announced by the Minister of Finance, Economic Planning and Development in the National...

6 Jun 2022 | News

The Virtual Assets and Initial Token Offerings Act 2022: The Financial Services Commission Confirms Processing Fees and Licensing Criteria

On 02 June 2022, the Mauritian Financial Services Commission (FSC) confirmed the processing fees for...

Contributors: Suhaylah Juman
11 Apr 2022 | News

Mauritius: Virtual Assets and Initial Token Offerings now a reality

In its continued pursuit of attracting investors and building a resilient economy and establishing M...

Contributors: Suhaylah Juman
1 Apr 2022 | News

Appleby announces new Partners and Counsel promotions

Appleby announces the promotion of two Partners and the appointment of five lawyers to the position ...

23 Mar 2022 | News

Appleby Mauritius advises Azure Power Global Limited for the Rights Offering of its Equity Shares of up to USD249,938,599

Appleby Mauritius advises Azure Power Global Limited for the Rights Offering of its Equity Shares of...

Contributors: Muhammad Aadil Koomar
8 Mar 2022 | News

Appleby Celebrates International Women’s Day on 8 March 2022

Appleby marks the day with 2022 campaign theme #BreakTheBias.