Section 94: Derogations from articles 1659, 1660, 1661, 1673, 2087 and 2088 of

94. Derogations from articles 1659, 1660, 1661, 1673, 2087 and 2088 of Code Civil Mauricien for the purposes of repurchase transactions (1) Pursuant to article 2094, alinea 2 of the Code Civil Mauricien and notwithstanding any other enactment— (a) articles 1659, 1660, 1661 and 1673 of the Code Civil Mauricien shall not apply to commercial contracts involving purchases made with a provision for repurchase of— (i) Government securities; (ii) Bank of Mauritius Bills; or (iii) such other instruments as the central bank may specify, among banks and such other financial institutions as the central bank may specify; and (b) articles 2087 and 2088 of the Code Civil Mauricien shall not apply to securities given for the repurchase of instruments referred to in paragraph (a). (2) The central bank shall, by direction, specify the terms and conditions under which repurchase transactions may be entered into. [S. 94 amended by s. 2 (s) of Act 18 of 2008 w.e.f. 19 July 2008.]