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Section 51: Enforceable undertakings

Financial Services Act · PART VIII: POWERS OF COMMISSION

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.

51. Enforceable undertakings (1) Where a person is unable to comply with the requirements of a direction under any of the relevant Acts, the Commission may accept a written undertaking from that person in connection with any matter relating to its functions under the relevant Acts. (2) Where a person revokes or varies an undertaking under subsection (1), the revocation or variation, as the case may be, shall be of no effect unless the prior approval of the Commission is obtained. (3) Without prejudice to such directions as the Commission may issue, where the Commission considers that the person has breached the undertaking, the Commission may apply to the Judge in Chambers for an order under this section. (4) The Judge in Chambers may make— (a) an order directing the person to comply with the undertaking; (b) an order directing the person to do a specified act, or refrain from doing a specified act, for the purposes of— (i) remedying the effects of the breach; (ii) compensating persons who have suffered loss because of the breach; or [Issue 6] F10 – 34 Revised Laws of Mauritius (iii) ensuring that the person does not commit further breaches of the undertaking or of the relevant Acts; (c) any other order that the Judge in Chambers considers appropriate. (5) The Commission shall publish in the Gazette, or make available to any person who asks for it, a copy of the undertaking. (6) The Commission shall delete from the copy of the undertaking any information that the person giving the undertaking has requested not to be released, provided that the Commission is satisfied that the information— (a) is confidential and has a commercial value that would be diminished if it were to be released generally; (b) should not be disclosed on grounds that it would be against the interest of the public; or (c) consists of personal details of an individual. (7) Where information has been deleted from a copy of an undertaking under this section, the Commission shall insert a note on the copy stating that certain information has been deleted.

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