Section 6: Restrictions on captive insurance business
consolidated text (as at 2018). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
6. Restrictions on captive insurance business
(1) No person shall carry out, or hold himself out as carrying out, captive
insurance business in or from within Mauritius unless he—
(a) holds a licence; and
(b) is resident in Mauritius.
(2) A corporation set up and organised under the laws of Mauritius shall
not carry out, or hold itself out as carrying out, captive insurance business,
without a licence.
(3) Any person who contravenes subsection (1) or (2) shall commit an
offence and shall, on conviction, be liable to a fine not exceeding 500,000
rupees and to imprisonment for a term not exceeding 2 years.
[S. 6 amended by s. 9 (b) of Act 11 of 2018 w.e.f. 9 August 2018.]
PART II – LICENSING AND SCOPE OF CAPTIVE
INSURANCE BUSINESS