Mauritius FSC Eases Rules On Reporting Issuers
by Lorys Charalambous, Lowtax.net, Cyprus
27 October, 2015
The Mauritian Financial Services Commission has changed the filing requirements for Reporting Issuers, to ease the compliance burden associated with using the Mauritius securities exchange.
"Reporting issuer" is defined in section 86(1) of Mauritius's Securities Act 2005 as an issuer:
- who by way of a prospectus, has made an offer of securities either before or after the commencement of this Act;
- who has made a takeover offer by way of an exchange of securities or similar procedure;
- whose securities are listed on a securities exchange in Mauritius; and
- who has not less than 100 shareholders.
The regulator has said that, in general, the list of foreign investment transactions returns, which is required from Reporting Issuers each month, now needs to be submitted to the relevant securities exchange only, and no longer to the Commission.
The change, announced by the Commission on October 23, 2015, became effective from October 10.
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