Section 1:
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.
1. For the purposes of this Act, “significant shareholder in an insurer” means a
person who alone or with associates—
(a) holds shares in the insurer of which the amount subscribed in respect
of stated capital represents 20 per cent or more of the total amount
subscribed in respect of stated capital of the insurer;
[Issue 5] I15 – 80
Revised Laws of Mauritius
(b) holds shares which entitle such person to exercise more than 20 per
cent of the voting rights attached to the amount subscribed in respect of stated capital of that insurer;
(c) in the case of a protected cell company, holds 50 per cent of more of
the cell shares issued in respect of any cell of that company; or
(d) has the power to determine the appointment of 20 per cent or more
of the directors of that insurer, including the power—
(i) to appoint or remove, without the concurrence of another person, 20 per cent or more of the directors; or
(ii) to prevent a person from being appointed as a director without
the consent of another person.