Section 368: Power to make regulations

368. Power to make regulations (1) The Minister may make such regulations he thinks necessary for designating a class of insolvency proceedings in a foreign country to be a specified insolvency proceeding and prescribing such matters as may need to be prescribed in relation to those proceedings. (2) The Minister shall, before making regulations under subsection (1), be satisfied that— (a) Mauritius and the foreign country are parties to an agreement for the mutual recognition of insolvency proceedings; and (b) the level of recognition given to the interests of Mauritius’ debtors and creditors in an insolvency proceeding in the foreign country and the terms of the agreement referred to in subsection paragraph (a) provide appropriate protection for the interests of debtors and creditors in Mauritius. (3) Any regulations made under subsection (1) may amend the Ninth Schedule in relation to a specified insolvency proceeding. (S. 368 not in operation.) [Issue 3] I14 – 198 Revised Laws of Mauritius PART VII – INSOLVENCY SERVICE