Section 12: The Board
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
12. The Board
(1) There is set up for the purposes of this Act a Board which shall consist of—
(a) a Chairperson, who shall be a person who has—
(i) served as a Judge of the Supreme Court; or
(ii) served as a Magistrate, or been a law officer or practised
as a barrister, in Mauritius for at least 10 years;
(b) 2 other members of high repute, one of whom shall be a person
with substantial experience in the legal profession and the other
shall be a person with substantial experience in the financial services industry.
(2) The Chairperson and members of the Board shall be appointed by the
President on the recommendation of the Prime Minister made in consultation
with the Leader of the Opposition.
(3) The appointment of the Chairperson and each member of the Board
shall be on such terms as may be specified in the instrument of appointment
of the Chairperson and each member.
(4) The Board may act notwithstanding the absence of one of its members.
(4A) —
[Issue 9] F8 – 10
Revised Laws of Mauritius
(5) The functions of the Board shall be to—
(a) keep under overall review the manner in which FIU discharges its
functions under this Act and to formulate the necessary policies
for implementation by the Director with a view to achieving the
objects of FIU;
(b) review and approve the budgetary estimates of FIU;
(c) issue such instructions as it considers appropriate with regard to
the financial management of FIU;
(d) advise the Director on matters relating to the discharge by FIU of
its functions; and
(e) consider the annual report of FIU and report to the Minister on
any matter appearing in or arising out of such report.
(6) The Board shall not have the power to consider, discuss or deliberate
on any matter relating to the lodging, analysing, reporting, requesting or disseminating of information in respect of any suspicious transaction report, nor
will it have access to information concerning any suspicious transaction report.
(7) Subject to subsections (4) to (6), the Board shall determine its own
procedure.
[S. 12 amended by s. 3 (c) of Act 34 of 2003 w.e.f. 27 September 2003; s 11 (e) of Act 27 of
2012 w.e.f. 22 December 2012; s. 17 (d) of Act 27 of 2013 w.e.f. 21 December 2013.]