Section 10: Authorising foreign pension scheme

10. Authorising foreign pension scheme (1) An application for a foreign pension scheme to be authorised shall be made to the Commission by an agent in Mauritius, in such form and manner as may be specified in FSC Rules, and shall be accompanied by such documents and fees as may be specified in FSC Rules. (2) The Commission may, where it is satisfied that— (a) the foreign pension scheme is for the benefit of beneficiaries in 2 or more countries, including Mauritius; (b) the foreign pension scheme is regulated in a foreign jurisdiction where— (i) there is a regulatory or supervisory framework consistent with international best practice; and (ii) the laws of that jurisdiction provide adequate safeguards to its beneficiaries; and (c) adequate protection is afforded to its beneficiaries, authorise the scheme, on such terms and conditions as it may determine. P32A – 9 [Issue 10] Private Pension Schemes Act (3) A foreign pension scheme shall, at all times, have an agent in Mauritius. (4) The Commission may, in FSC Rules, provide that compliance with any requirement imposed under the laws of the foreign jurisdiction where the foreign pension scheme is regulated shall be deemed to be in compliance with this Act or the FSC Rules.