The rules define a new framework for licensing, which provides for the first time, codified a comprehensive list of all financial services and financial activities, business licensed by the Commission.
These Regulations shall come into force on 22 March 2008, after their publication in the Official Gazette.
Financial Services (Consolidated Licensing and Fees) Regulation 2008 ("Regulations") made by the Commission for financial services in accordance with section 93 of the financial services, 2007, section 155 of the Securities Act of 2005 and section 130 of the Insurance Act 2005 and applies to all financial services (excluding banks) are licensed and regulated by the Commission ..
Under the new licensing system aimed at streamlining the licensing process, providing a clear set of licensing criteria and requirements within a clearly defined and consolidated framework.
Potential candidates, including services, can set the appropriate licenses, legal provisions, licensing requirements and fees applicable to the particular business they propose to spend.
The rule also provides a new fee structure.
In developing this new fee structure, the Commission adopted a consultative approach, through regular meetings with industry representatives.
The Commission considered the stage of development of different sectors within its competence, as well as the need to maintain the overall competitiveness of Mauritius as an international financial center, in determining the fee structure.
Rules provide a specific code for each of the licensed financial services and financial activities. Application forms and licensing requirements for each of the licensed services and activities are available for download on the website of the Commission. and would be in Ebene.
