Section 29: Licence for investment dealers and their representatives
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.
29. Licence for investment dealers and their representatives
(1) Subject to section 79A of the Financial Services Act, no person shall,
by way of business—
(a) act or hold himself out as an intermediary in the execution of
securities transactions on behalf of other persons;
(b) trade or hold himself out to trade in securities as principal for his
own account with the intention of selling them to the public; or
(c) underwrite or distribute or hold himself out to underwrite or distribute securities on behalf of an issuer or a holder of securities,
without an investment dealer licence issued by the Commission or without
being licensed as a representative of an investment dealer by the Commission.
(2) No person other than a body corporate may apply for an investment
dealer licence.
(3) The Commission may make rules providing for the authorisation and
conditions under which a financial institution may carry out the functions or
activities of an investment dealer.
[S. 29 amended by s. 18 of Act 15 of 2007 w.e.f. 28 September 2007; s. 45 (b) of Act 18 of
2016 w.e.f. 7 September 2016.]
[Issue 9] S7 – 18
Revised Laws of Mauritius