It is stated therein that: “Good governance is a pre-requisite for a conductive business environment that allows these growth sectors to thrive. Government will, through the constitutional bodies, improve transparency, effectiveness and efficiency in the delivery of public services”.

An examination of the Finance (Miscellaneous Provisions) Act 2017, which came into force on the 24 July 2017, shows the Government’s continued intention to promote good governance by amending the Companies Act so as to make it compulsory for all companies which have a duty to file annual reports, to include within them a report on corporate governance. One can therefore see a definite determination on the part of the Government of Mauritius in encouraging companies in Mauritius to conduct their business with better principles.

One would note that by virtue of the Financial Reporting Act, the National Code of Corporate Governance (the “Code”) was already compulsory for all public interest entities as defined in the Financial Reporting Act. However, all other companies are encouraged to give due consideration to the application of this Code insofar as the principles are applicable.

Code Principles 

The Code which is currently in use in Mauritius is a new code which officially launched on the 13 February 2017. The Code adopts an innovative approach of “apply-and-explain” instead of the mandatory or prescriptive approaches to corporate governance, which have been traditionally applied by other jurisdictions worldwide. As such, rather than being a rigid set of rules, the Code includes eight simple principles.

Read More

Type

Insight

Locations

Mauritius

Share
Twitter LinkedIn Email Save as PDF
More Publications
12 Mar 2021 |

Material adverse change clauses in light of the Covid-19 pandemic

Experts from each of our key global offices provide jurisdiction specific advice and answer question...

8 Mar 2021 |

Appleby Celebrates International Women’s Day

International Women’s Day is celebrated annually in support of gender equality and equal participa...

30 Oct 2020 |

When Worlds Collide – How COVID is Connecting Technology with Natural Resources

Dating back to the beginning of 2020, the natural resources sector has been extremely active at both...

Contributors: Peter Colegate
13 Aug 2020 |

Special Purpose Acquisition Companies (SPACS) make a comeback

In this global article on SPACs we revisit the basics, then look to each of our key jurisdictions fo...

9 Apr 2020 |

COVID-19 and the Mauritius Justice System: How will this pandemic affect court work?

The coronavirus pandemic of 2020 has affected every aspect of our lives. Humankind is facing a globa...