The MLI offers concrete solutions for governments to close the gaps in existing international tax rules by transposing results from the OECD/G20 BEPS Project into bilateral tax treaties worldwide. The MLI modifies the application of thousands of bilateral tax treaties concluded, to eliminate double taxation. It also implements agreed minimum standards to counter treaty abuse and to improve dispute resolution mechanisms while providing flexibility to accommodate specific tax treaty policies.

The registration of security documents

The Registrar General has recently started to apply a new policy linked to the registration of security documents. As such, any security document which is deposited for registration and/or inscription must be accompanied by a duly registered copy of any loan or other agreement, referred to in the security document.

Securities (Preferential Offer) Rules 2017

The Financial Services Commission issued the Securities (Preferential Offer) Rules 2017, which came into effect on the 1 July 2017. A preferential offer is either:

1. An offer or issue of securities that is a private placement;

2. An offer or issue of securities that is made only to sophisticated investors;

3. An offer or issue of securities only to related corporations of the issuer of the securities.

These rules apply to issuers (any issuer that issues securities to 25 investors or above or any reporting issuer) that wish to make an issue of securities, falling within the restricted rules applying to preferential offers. A preferential offer must be approved by shareholders, and the allotment of securities thereunder must be completed within a period of 12 months from the date of this approval. These rules do not apply to an offer of securities by a collective investment scheme or a closed-end fund.

The Finance (Miscellaneous Provisions) Act 2017

The Finance (Miscellaneous Provisions) Act 2017 has amended the Companies Act to provide that where the shares of a company are held by a nominee, the share register maintained by a company must state the beneficial owners or the ultimate beneficial owners who give instruction to a shareholder to exercise a right. This information must be lodged with the Registrar of Companies within 14 days from the date on which any entry or alteration is made in the share register. However, the Registrar of Companies will not disclose this information to any person unless;

1. Required by the beneficial owner or the ultimate beneficial owner;

2. Required for the purpose of an investigation, enquiry or any other matter; or

3. Ordered by a court or the Judge in Chambers.



Twitter LinkedIn Email Save as PDF
More Publications
18 Nov 2022


There have been interesting developments in our legal landscape since our last issue with the Govern...

17 Nov 2022

Mauritius Case-Law Summary November 2022

This is a summary of recent cases likely to influence the practice of global business in Mauritius.

17 Nov 2022

Taking Insurance a Step Higher: structured Investment - Linked Insurance Business

In line with the budgetary measures which were announced for 2020-2021, the Insurance Act 2005 (Insu...

17 Nov 2022

The Statutory Requirement for a Debenture Holders’ Representative in Mauritius

A debenture is essentially a debt instrument which is traditionally not supported by any collateral ...

Contributors: Abdal Aumeer
17 Nov 2022

Banker's duty of confidentiality

A bank’s duty of confidentiality to its customers, as well as the obligation on banking institutio...

Contributors: Zahrah Juman
17 Nov 2022

What is RegTech? Has the time come for its implementation into our legal landscape?

In Mauritius, the period starting from the outbreak of the COVID-19 pandemic has witnessed a remarka...

25 Oct 2022

Mauritius: Cryptocurrencies and virtual assets – How ready are we?

The world’s prime means of transacting has traditionally been by way of conventional currencies. H...

Contributors: Zahrah Juman
25 Oct 2022

Mergers & Acquisitions (M&A) Guide 2022 – Mauritius

This country-specific guide provides an overview of Mergers & Acquisitions (M&A) laws and regulation...

6 Oct 2022

Cutting through the law- Section 6 of the Court of Civil Appeal Act

“I set aside the application for an interim order with costs”; this is often the unfortunate res...

Contributors: Dylan Mannikum
27 Sep 2022

Similar but Different

While the basic features of the trust remain, there are some notable differences in how trusts can b...