Section 293: Meaning of “dormant company”

293. Meaning of “dormant company” (1) For the purposes of this Part, a company— (a) shall be a dormant company for any period during which no significant accounting transaction occurs in relation to the company; and (b) shall cease to be a dormant company when any significant accounting transaction occurs in relation to the company. (2) In this Part— (a) no significant accounting transaction shall be deemed to have occurred unless it is a transaction which is required to be entered in the accounting records of the company under section 193; [Issue 9] C35 – 176 Revised Laws of Mauritius (b) a significant accounting transaction shall not include— (i) any transaction which arises under section 51 from the issue to a subscriber, of shares in the company in respect of the application for incorporation; (ii) the payment of bank charges, licence fees or any other compliance costs. continued on page C35 – 177 C35 – 176 (1) [Issue 9] Revised Laws of Mauritius