Section 79A: Application for Investment Banking Licence
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.
79A. Application for Investment Banking Licence
(1) An application for an Investment Banking Licence shall be made in
such form and manner as may be specified in FSC Rules and shall be accompanied by—
(a) a business plan or feasibility study outlining the proposed
business activity of the applicant;
(b) particulars of promoters, beneficial owners, controllers and
proposed directors in such form and manner as may be specified
in FSC Rules;
(c) such fees as may be specified in FSC Rules; and
(d) such other information as may be specified in FSC Rules or otherwise required by the Commission to determine the application.
(2) An applicant shall notify the Commission of any material change
which may have occurred, whether before or after the issue of a licence, in
the information provided in the application made under subsection (1).
(3) A licensee holding an Investment Banking Licence under this Part may
conduct the activities of an investment dealer (full service dealer, including
underwriting), investment adviser (unrestricted), investment adviser (corporate finance advisory), asset management, distribution of financial services,
and such other activities as may be specified in FSC Rules.
(4) A licensee holding an Investment Banking Licence shall not conduct
any activity not specified in his initial business plan or feasibility study
referred to in subsection (1) (a), without the approval of the Commission.
(5) For the avoidance of doubt, an application for an Investment Banking
Licence shall be subject to the regulation of financial services under Part IV.
(6) Any person who, before 7 September 2016, was the holder of an Investment Banking Licence issued by the Bank of Mauritius, shall, within 3
months from 7 September 2016, apply to the Commission for an Investment
Banking Licence.
(7) Any licence issued by the Bank of Mauritius to any person, insofar as
the licence relates to Investment Banking shall lapse 3 months after 7 September 2016.
[S. 79A inserted by s. 24 (d) of Act 18 of 2016 w.e.f. 7 September 2016.]
continued on page F10 – 49
[Issue 9] F10 – 48 (2)
Revised Laws of Mauritius
PART XI – ADMINISTRATION