Section 337: Persons prohibited from managing companies

337. Persons prohibited from managing companies (1) Where— (a) a person has been convicted of an offence in connection with the promotion, formation, or management of a company; (b) a person has been convicted of an offence under section 332, 333, 334 or 335 or of any crime involving dishonesty; or (c) a person has been convicted under section 46 of the Stock Exchange Act as an insider; (d) person has been convicted of an offence under Part IX of the Securities Act, that person shall not, during the period of 5 years following the conviction or the judgment, be a director or promoter of, or in any way, whether directly or indirectly, be concerned or take part in the management of, a company, unless that person first obtains the leave of the Court which may be given on such terms and conditions as the Court thinks fit. [Issue 1] C35 – 198 Revised Laws of Mauritius (2) A person intending to apply for the leave of the Court under this section shall give to the Registrar not less than 14 days’ notice of that person’s intention to apply. (3) The Registrar, and such other persons as the Court thinks fit, may attend and be heard at the hearing of any application under this section. (4) A person who acts in breach of this section, or of any order made under this section, shall commit an offence and shall, on conviction, be liable to a fine not exceeding 400,000 rupees or to imprisonment for a term not exceeding 2 years. (5) In this section, “company” includes a foreign company that carries on business in Mauritius. [S. 337 amended by s. 156 (1) (k) of Act 22 of 2005 w.e.f. 28 September 2007.]