Section 106: Disclosure by CIS and CIS managers

106. Disclosure by CIS and CIS managers (1) Every collective investment scheme shall file with the Commission and make public interim financial statements prepared in accordance with IFRS and such other standards as may be issued under the Financial Reporting Act, as soon as possible, but not later than 45 days after the closing date of the interim period specified in FSC Rules. (2) A CIS manager shall file with the Commission interim financial statements prepared in accordance with IFRS and such other standards as may be issued under the Financial Reporting Act, as soon as possible, but not later than 45 days after the closing date of each interim period specified in FSC Rules. (3) The interim financial statements specified in subsections (1) and (2) need not be audited. (4) Every collective investment scheme shall, as soon as possible, but not later than 90 days of its balance sheet date, file with the Commission and make public an annual report which shall include financial statements [Issue 1] S7 – 40 Revised Laws of Mauritius prepared in accordance with IFRS and audited in accordance with the International Standards on Auditing, and such other standards as may be issued under the Financial Reporting Act, by an audit firm approved by the Commission. (5) Every CIS manager shall, as soon as possible, but not later than 90 days of its balance sheet date, file with the Commission an annual report which shall include financial statements prepared in accordance with IFRS and audited in accordance with the International Standards on Auditing, and such other standards as may be issued under the Financial Reporting Act, by an audit firm approved by the Commission. (6) The annual reports and the financial statements required under this section shall be in such form, and shall include such other information, as may be specified in FSC Rules. (7) Further provisions about auditing in relation to collective investment schemes may be specified in FSC Rules. (8) Every collective investment scheme shall file with the Commission a prospectus or other disclosure document as may be specified in FSC Rules. (9) Any collective investment scheme or CIS manager that contravenes any provision of this section shall commit an offence and shall, on conviction, be liable to a fine not exceeding 500,000 rupees. (10) Where a collective investment scheme is constituted as a trust, the offence in subsection (9) shall be committed by the trustee and the CIS manager.