Section 112: Disgorgement

112. Disgorgement (1) Where the Court finds, on application by the Commission, that a person has done an act of insider dealing, the Court may make an order requiring that person to pay to the Commission, an amount determined by the Court. (2) The maximum amount that may be ordered to be paid under subsection (1) shall be an amount equal to the amount found by the Court to be the amount of the profit that may have been realised or loss avoided by the offender because of the offence. (3) In making an order under this section, the Court shall have due regard to any administrative penalty imposed under section 129. (4) Any amount recovered under this section shall be paid into a compensation fund for the purpose of compensating investors that suffer a loss by the insider dealing. (5) For the purposes of this section, the profit that may have been realised or the loss that may have been avoided by the offender because of the offence shall be computed in accordance with section 111 (6). [Issue 1] S7 – 44 Revised Laws of Mauritius (6) For the purposes of this section, proceedings before the Court shall be civil proceedings.