Section 77B: Application for Global Legal Advisory Services licence

77B. Application for Global Legal Advisory Services licence (1) An entity which is licensed or registered as a law firm in a foreign country may make a written application to the Commission, in such form and manner as may be prescribed, for a Global Legal Advisory Services licence. (2) The Commission may, on an application made under subsection (1), grant a licence where it is satisfied that – (a) the parent law firm is qualified, licensed or regulated as a firm entitled to practise law in its home jurisdiction; 210 Acts 2016 (b) 2 foreign lawyers qualified in the foreign jurisdiction referred to in subsection (1) to practise the law of that jurisdiction are employed by or are part of the entity; and (c) the applicant has a physical establishment in Mauritius. (3) The Commission may impose such terms and conditions as may be prescribed or as it deems appropriate before granting a Global Legal Advisory Services licence. (4) The Commission shall, on granting a licence under subsection (2), inform the Attorney-General. (5) Where the licence of an entity has been revoked, the Chief Executive may give a direction to that entity – (a) as may be necessary in the circumstances, including for the orderly dissolution of its business and the discharge of its liabilities; and (b) to take such remedial action as he considers necessary. (d) by inserting, after Part X, the following new Part – Part XA – INVESTMENT BANKING