Section 102: Meaning of certain words

102. Meaning of certain words For the purposes of this Part— (a) any reference to a “licensee” shall, save and except for sections 97 and 98, include— (i) a registered person who acts or has acted on behalf of that licensee or any past or present employee of that registered person; (ii) any person who is a past or present officer, partner, manager, employee or controller of that licensee; (iii) an associated party of that licensee; (iv) a corporation whose licence has expired, or has been cancelled, revoked, suspended or surrendered; (v) a person who has carried out or is carrying out any activity in the insurance sector without the appropriate licence under this Act; (b) any reference to the “Chief Executive” shall include any person designated from among the staff of the Commission, or appointed because of his qualification or competence, by the Chief Executive; (c) “associated party”, in relation to any person, means— (i) any person who is in partnership with that person; (ii) any company of which that person is a controller; (iii) any body of which that person is a director or officer; [Issue 1] I15 – 66 Revised Laws of Mauritius (iv) where that person is a company— (A) a holding company, subsidiary or related company of that person; (B) a subsidiary or related company of a holding company of that person; (C) a holding company of a subsidiary of that person; or (D) a company in the case of which a significant shareholder of that person, alone or with associates, is entitled to exercise, or control the exercise of, more than 50 per cent of the voting power in a general meeting, and where, in accordance with the above provisions, any person or body is an associated party in relation to another person or body, then that other person or body is an associated party in relation to that first-mentioned person or body. [S. 102 amended by s. 33 of Act 16 of 2007 w.e.f. 28 September 2007.] PART XI – ADMINISTRATOR AND CONSERVATOR 103. — [S. 103 repealed by s. 34 of Act 16 of 2007 w.e.f. 28 September 2007.]