Section 12: Cessation or transfer of business

12. Cessation or transfer of business (1) Where a person registered under this Act ceases to carry on business or sells or otherwise transfers his business, he shall, within 15 days from the date of cessation, sale or transfer, notify the Registrar, in writing, in such form and manner as the Registrar may approve, of the date of the cessation, sale or transfer and the full name of the buyer or transferee, as the case may be, and, at the same time return, his business registration card and all copies thereof. (2) Where a person purchases or takes over a business, he shall notify the Registrar in writing, in such form and manner as the Registrar may approve, of the date of the purchase or takeover, and of the full name of the seller or transferor, as the case may be, and at the same time return his business registration card and all copies thereof, if any. (3) On receipt of a notification under subsection (1) or (2), the Registrar shall, on being satisfied with the information provided, cancel the returned business registration card, cause the CBRD to be amended accordingly and where necessary, issue a fresh business registration card to the person. [Issue 9] B17 – 8 Revised Laws of Mauritius (4) Any person who fails to comply with subsection (1) or (2) shall commit an offence and shall, on conviction, be liable to a fine not exceeding 50,000 rupees.