Section 6: Qualified corporation

6. Qualified corporation (1) Subject to subsection (2), a qualified corporation or an applicant for a business certificate who wishes to hold or purchase or otherwise acquire a property shall apply to the Commission, or in the case of a bank holding a banking licence under the Banking Act, insofar as it relates to its banking transactions with non-residents and corporations holding a Category 1 Global Business Licence or Category 2 Global Business Licence, to the Bank of Mauritius. (2) The Minister may— (a) make regulations to provide for the manner in which applications submitted to the Commission or Bank of Mauritius, as the case may be, shall be processed; (b) delegate to the Commission or Bank of Mauritius, subject to such directions as he may determine, his powers to issue a certificate under this Act to a qualified corporation. (3) Any certificate issued by the Commission or the Bank of Mauritius, as the case may be, under powers delegated by the Minister, shall be deemed to be a certificate issued under section 3 (2) of this Act. [S. 6 amended by Act 18 of 1992; Act 10 of 1998; Act 18 of 1999; s. 46 (7) (c) of Act 13 of 2001 w.e.f 1 December 2001; s. 22 (c) of Act 20 of 2002 w.e.f. 1 September 2002; s. 103 (7) (b) of Act 35 of 2004 w.e.f. 10 November 2004.] [Issue 9] N36 – 6