Section 24: Minimum capital requirements

24. Minimum capital requirements (1) Every cash dealer shall, at all times, maintain in Mauritius such amount paid as stated capital as may be approved by the central bank or such higher amount as may be prescribed, after deduction of accumulated losses of the cash dealer. (2) No cash dealer shall declare, credit or pay any dividend or make any other transfer from profits until— (a) its minimum capital requirement has been met; (b) adequate provision has been made for existing or contingent liabilities. [S. 24 amended by s. 3 (d) of Act 14 of 2009 w.e.f. 30 July 2009.]