Section 213:

213. Financial statements to be presented in Mauritius currency unless otherwise approved by Registrar (1) Subject to the other provisions of this section, a company shall present its financial statements in Mauritius currency. (2) The Registrar may approve the presentation by a company of its financial statements in a foreign currency where the Registrar is satisfied— (a) that the company’s principal operational activity during the accounting year in question has been undertaken in that foreign currency; and (b) that the presentation of the financial statements in that foreign currency shall result in the financial statements providing a more faithful view of the company’s affairs than by presentation in Mauritius currency. (3) Where approval is given by the Registrar under subsection (2), the company shall provide in a note to the balance sheet a statement of the average exchange rate on balance sheet date as provided by the Bank of Mauritius. (4) A company which, with the approval of the Registrar, presents its financial statements in a foreign currency shall not revert to presentation of its financial statements in Mauritius currency, or any other foreign currency without first obtaining the further approval of the Registrar and where such approval is given, the company shall state in a note to the accounts the reason for the change in the currency in which the financial statements are presented.