Section 17: General provisions of private pension schemes
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
17. General provisions of private pension schemes
(1) The Commission may, in FSC Rules, make provision for—
(a) the constitution and management of private pension schemes;
(b) the duties and functions of the governing body of a private pension scheme, a pension scheme administrator, long-term insurer
and a professional adviser;
(c) the rights and obligations, including the vesting rights, of a
member;
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Private Pension Schemes Act
(d) the financial statements of a private pension scheme and documents to be annexed to the statements; and
(e) such other matter as may be requested for attaining the purposes of this Act.
(2) The Commission may, in relation to defined benefit schemes or
defined contribution schemes, make provision in FSC Rules—
(a) for the management and valuation of the assets and obligations
of the schemes;
(b) for the expenses of the schemes and the means of meeting
these expenses;
(c) for the qualifications and experience, appointment, resignation,
removal, powers and duties of an actuary or auditor for the
schemes;
(d) for restricting or regulating the investment and borrowing powers of the schemes;
(e) requiring the keeping and maintenance of records with respect to
the transactions and financial position of the schemes and for
the keeping of records in Mauritius and for the inspection of
records;
(f) requiring the preparation of periodical reports with respect to the
schemes and furnishing of those reports to the Commission and
to its beneficiaries, where directed by the Commission;
(g) with respect to an amendment of the rules of the schemes prohibiting, restricting or regulating transfers, including—
(i) any liability for the payment of any pension benefit to or
from the schemes; or
(ii) any right to any benefit to or from the schemes.