Section 7: Constitution of Council

7. Constitution of Council (1) The Council shall consist of— (a) a Chairperson suitably qualified and experienced in the field of business, finance, accountancy or law, who shall be appointed by the Prime Minister; (b) a Deputy Governor of the Bank of Mauritius; (c) the Chief Executive of the Financial Services Commission; (d) the Registrar of Companies; (e) an elected member of the Mauritius Institute of Professional Accountants; (f) an academic from a tertiary education institution, knowledgeable in accounting and financial reporting matters, who shall be appointed by the Minister; (g) a professional from the financial services sector, suitably qualified and experienced in the field of business, finance or law, to be appointed by the Minister; (h) the Chairperson of the Mauritius Institute of Professional Accountants; F9 – 7 [Issue 9] Financial Reporting Act (i) the Chairperson of the Mauritius Institute of Directors; (j) a representative of the National Committee on Corporate Governance, to be designated by the Minister. (2) The Council shall not, at any one time, consist of more than 2 members who are licensed auditors. (3) The Chairperson of the Mauritius Institute of Professional Accountants, the representative of the National Committee on Corporate Governance and the Chairperson of the Mauritius Institute of Directors shall have no voting rights. (4) An alternate member may be appointed for every member of the Council, except for the Chairperson. (5) Every member shall be paid such fees as the Council may, with the approval of the Minister, determine. [S. 7 amended by s. 23 (b) of Act 18 of 2016 w.e.f. 7 September 2016.]