Section 94: Regulations

94. Regulations (1) The Minister may— (a) make such regulations as he thinks fit for the purposes of this Act; (b) by regulations, amend the Schedules. (2) Any regulations made under this Act may provide— (a) for the taking of fees and levying of charges; (b) for the payment of costs in relation to matters before the Review Panel; (c) for a code of ethics for the members of the Board and the employees of the Commission relating to— (i) acceptance of gifts or any other reward; (ii) restricting the holding of shares and other interests in any licensee or the disclosure of such interests; and (iii) acting as, or accepting a function as, an officer of a licensee or employment with a licensee during or after the termination of their membership of the Board or employment with the Commission; (d) that any person who contravenes any regulations under this Act or under any relevant Act or any FSC Rules made under this Act shall commit an offence, and shall, on conviction, be liable to a fine not exceeding 100,000 rupees and to imprisonment for a term not exceeding 2 years; (e) for the setting up and administration of an online centralised Know Your Customer (KYC) database for the non-banking financial services sector. [S. 94 amended by s. 24 (e) of Act 18 of 2016 w.e.f. 7 September 2016.] 95. – 98. — FIRST SCHEDULE [Section 2] RELEVANT ACTS Captive Insurance Act Insurance Act Private Pension Schemes Act Protected Cell Companies Act [Issue 9] F10 – 54 Revised Laws of Mauritius FIRST SCHEDULE—continued Securities Act Securities (Central Depository, Clearing and Settlement) Act Trusts Act [First Sch. amended by s. 57 (1) (c) of Act 15 of 2012 w.e.f. 1 November 2012; s. 20 (1) (c) of Act 32 of 2015 w.e.f. 29 January 2016.] SECOND SCHEDULE [Section 2] PART I – FINANCIAL BUSINESS ACTIVITIES Assets management Credit finance Custodian services (non-CIS) Distribution of financial products Factoring Funeral Scheme Management Global headquarters administration Global treasury activities Leasing Overseas family office (multiple) Overseas family office (single) Pension scheme administrator Registrar and transfer agent Treasury management Such other financial business activity as may be specified in FSC Rules PART II – GLOBAL TREASURY ACTIVITIES Provision of at least 3 of the following services to at least 3 related corporations— Arrangement for credit facilities, including credit facilities with funds obtained from financial institutions in Mauritius or from surpluses of network companies Arrangement for derivatives Corporate finance advisory Credit administration and control Factoring, forfeiting and re-invoicing activities Guarantees, performance bonds, standby letters of credit and services relating to remittances Management of funds for designated investments Such other global treasury activity as may be specified in FSC Rules F10 – 55 [Issue 9] Financial Services Act SECOND SCHEDULE—continued PART III – GLOBAL HEADQUARTERS ADMINISTRATION Provision of at least 3 of the following services to at least 3 related corporations— Administration and general management Business planning and development and coordination Economic or investment research and analysis Services related to international corporate headquarters in Mauritius Such other global headquarters administration services as may be specified in FSC Rules [Second Sch. amended by s. 57 (1) (d) of Act 15 of 2012 w.e.f. 1 November 2012; s. 13 (g) of Act 27 of 2012 w.e.f. 22 December 2012; GN 196 of 2016 f the following services to at least 3 related corporations— Administration and general management Business planning and development and coordination Economic or investment research and analysis Services related to international corporate headquarters in Mauritius Such other global headquarters administration services as may be specified in FSC Rules [Second Sch. amended by s. 57 (1) (d) of Act 15 of 2012 w.e.f. 1 November 2012; s. 13 (g) of Act 27 of 2012 w.e.f. 22 December 2012; GN 196 of 2016 w.e.f. 1 October 2016; GN 241 of 2016 w.e.f. 15 November 2016.] THIRD SCHEDULE [Sections 55 and 83] PART I OATH OF OFFICE IN THE SUPREME COURT OF MAURITIUS I, ................................................................... , do swear/solemnly affirm/declare that I will well and truly serve the Republic of Mauritius as a member of the Financial Services Review Panel established under the Financial Services Act and I will do right to all people according to law, without fear or favour, affection or ill will. (So help me God). Taken before me, .............................................on .................................. (date) Master and Registrar of the Supreme Court PART II OATH OF CONFIDENTIALITY IN THE SUPREME COURT OF MAURITIUS I, ........................................................................................... , being appointed ............................................................. do hereby swear/solemnly affirm/declare that I will, to the best of my judgment, act for the furtherance of the objects of the Commission established under the Financial Services Act and shall not, on any account and at any time, disclose, otherwise than with the authorisation of the Commission or where it is strictly necessary in the performance of my duties, any confidential information obtained by me during or after my relationship with the Commission. Taken before me, ............................................................... on ................ (date) Master and Registrar of the Supreme Court [Issue 9] F10 – 56 Revised Laws of Mauritius FOURTH SCHEDULE [Section 71 (3)] BUSINESS ACTIVITIES Banking Carrying out the business of holding or managing or otherwise dealing with a collective investment fund or scheme as a professional functionary Financial services Providing registered office facilities, nominee services, directorship services, secretarial services or other services for corporations Providing trusteeship services by way of business F10 – 57 [Issue 9]