APPLEBY MAURITIUS NEWSLETTER, JULY 2022
Welcome to Appleby’s quarterly newsletter!
There have been interesting developments in our legal landscape since our last issue with the Government’s continued endeavours to further enhance our international financial centre as one of excellence.
We invite you join us in the forthcoming webinar hosted by the Economic Development Board on Wednesday 27 July 2022 at 09:00 GMT and during which Appleby will share its insights on “Mauritius IFC: Your Ideal Hub for Private Equity and Fund Management”.
Digital Banking - Being future ready
One of the positive aspects of digitalisation is the opportunity which it has offered for financial inclusion.
This article reviews the approach which the Mauritian Supreme Court adopts on the concept of “Concurrence Déloyale” in the employment sector.
FSC Rules issued under the Virtual Asset and Initial Token Offerings Services Act 2021 (VAITOS)
On 15 July 2022, the Financial Services Commission (FSC) issued the following rules under the VAITOS.
The Supreme Court had to address a preliminary objection raised by co-respondents Nos. 1, 2 and 3 on the ground of jurisdiction to contest and challenge the court’s competence to determine the issues and claims set out in the application.
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Enforcing Integrity: The UK’s Legal Arsenal Against Market Abuse
The legal concept of market abuse and the twin concept of upholding market integrity are not new as these were prevalent since the 17th century ¹. As a matter of fact, there is a belief that insider dealing was the root cause of demise of the South Sea Company in the 18th century.
Dual Remedies Afforded against the Granting of Injunctions
Actis Consumer Grooming Products Ltd v Super-Max Mauritius [2025 SCJ 388]
The Mauritian National Budget 2025/2026 - From abyss to prosperity: Rebuilding the bridge to future
On 05 June 2025, Dr Navinchandra Ramgoolam GCSK, FRCP, Prime Minister of Mauritius, in his capacity as Minister of Finance (Minister of Finance) tabled the National Budget for the fiscal year 2025-2026 under the theme “From Abyss to Prosperity: Rebuilding the Bridge to the Future”.
Mauritius as an Ideal Seat for Arbitration
In one of its recent determinations, the Mauritian Supreme Court re-affirmed a line of decisions which confirmed its support to arbitration, whether international or domestic. These determinations reflect its understanding of the needs of business community, characterised by a marked choice to resolve disputes through a private mechanism to allow existing business relationships to thrive.
Insider Dealing: A Review of the Treatment in Mauritius, EU and US Federal law
A review of the treatment in Mauritius, the United States and the European Union of the offence of insider trading confirms the contrasting approaches which these jurisdictions have adopted on the issue even though all three jurisdictions share two fundamental concerns namely, (i) the prohibition on an insider to take an unfair advantage by reason of information which he has obtained to the detriment of third parties who are unaware of such information and, (ii) the protection of the integrity of financial markets and investor confidence ¹.
Professional emails are personal data
Case Commentary – France, Cour de cassation, 18 June 2025, 23-19.022 Professional emails are personal data.
Are our Courts tilting towards procedural flexibility?
Case Commentary: R.K.G FRUITS CO LTD v MAERSK (MAURITIUS) LIMITED 2025 SCJ 220. In a significant decision reaffirming the principle that procedural technicalities should not override substantive justice, the Court of Civil Appeal allowed an appeal overturning an interlocutory judgment of the Bankruptcy Division that had dismissed an application to set aside a statutory demand on the basis of a contested board resolution.
Is Cryptocurrency security - the Mauritian and USA perspectives?
As any of the emerging technologies, cryptocurrency has been disruptive to the market and has challenged regulators globally. Unsurprisingly, it has been commented that “a little more than a decade ago, cryptocurrencies were essentially an academic concept. The idea seemed far-fetched to most people. But that all changed in 2009 with the creation of Bitcoin …/… [today] the world’s cryptocurrency market is worth more than USD 3 trillion …/… there’s no question that crypto is here to stay, and it will undoubtedly continue to disrupt countless industries ”.
International Women’s Day 2025 roundtable: Rights. Equality. Empowerment.
As we recognise International Women’s Day 2025, we are reminded that gender equality is not just a vision – it’s a call to action.
Case Commentary: Mulliez H.S.B v Telecel Group SA & Anor 2025 SCJ 31
On 22 January 2025, the full bench of the Court of Civil Appeal in the matter of Mulliez H.S.B v Telecel Group SA & Anor 2025 SCJ 31 decided on the scope of Section 6 of the Court of Civil Appeal Act 1963, also common referred as the “similar purpose application” section. Unsurprisingly, the Court has pathed the way for judicial activism holding that the: “Court would therefore readily intervene, in the absence of any appropriate or adequate legal remedy, where the immediate and urgent intervention of the Court is warranted for the due administration of justice through the exercise of its equitable jurisdiction.”