The Mauritian Ministry of Industry, Financial Services and Corporate Affairs announced on Friday that it is consulting the public on the final preparation of financial legislation comprising the Securities Bill, the Investment Partnership Bill and the Insurance Bill.
The Ministry revealed that working documents relating to the Draft Securities Bill 2004, the Draft Securities (Collective Investment Schemes) Regulations 2004, the Draft Investment Limited Partnership Bill 2004, and the Draft Insurance Bill 2004 have been prepared by the Financial Services Commission after initial consultations with the securities and insurance industry.
The principal objectives of the proposed legislation are to modernise and consolidate the law relating to the offering and trading of securities, the regulation of the market infrastructure and the licensing of market intermediaries; introduce a comprehensive legal regime for the establishment and management of collective investment schemes; provide a statutory framework for a modern investment vehicle for specialized collective investment schemes structured in the form of limited partnerships; and enhance the regulatory and supervisory framework for the insurance industry and provide greater protection to policy holders and other beneficiaries.
Comment on the working documents is invited before August 2, 2004.
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