News & Articles

Mauritius further strengthens its anti-money laundering framework

The Parliament of Mauritius has recently enacted the Anti-Money Laundering and Combating of the Financing of Terrorism And Proliferation (Miscellaneous Provisions) Act 2019 (Act) which came into force on 29 May 2019.

The Mauritian Court re-affirms the principles governing restrictive covenants in employment contracts.

Nabridas Ltd v Martin Coombes & Ors is a decision from the Supreme Court (Commercial Division) which clarifies the validity and scope of a restrictive covenant in an employment contract. Furthermore, it ruled on the issue of "contrepartie financière" (payment of financial compensation at the date of termination of employment) and whether such a provision would affect the validity of a restrictive covenant.

The Mauritius FSC issues Guidance Note on Securities Token Offering

On 8 April 2019, the Financial Services Commission ("FSC"), which is the regulator for non-banking financial services and global business sectors, published a guidance note, entitled 'Securities Token Offering' (the "Guidance Note"). This is the FSC'S second guidance note under its Fintech Series with a view of promoting Fintech-related initiatives in Mauritius...

Major Transaction: Non-Compliance and recourse available to shareholders

The general principle under section 129 (1) of the Companies Act (the "Act") is that the business and affairs of the company shall be managed by, or under the supervision of, the Board. Section 129 (2) of the Act further provides that the Board shall have all the powers necessary for managing, and for directing and supervising the management of, the business and affairs of the company...

Mauritius FSC implements licensing framework for digital asset custodian services in March 2019

In line with its statutory objective of studying new avenues for development in the financial services sector, responding to new challenges and taking full advantage of new opportunities for achieving economic sustainability and job creation...