Section 83:
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.
83. Right to withdraw and have money returned
(1) Where securities are issued to a person—
(a) without a prospectus or any other disclosure document required
under this Part, or any regulations or any FSC Rules made for the
purposes of this Part; or
(b) otherwise than on an application form for subscription attached
to the prospectus,
such issue of securities shall be void and the person shall have the right to
return the securities and to have its application money repaid.
(2) The right shall be exercised by written notice to the issuer of the securities or the investment dealer who acted for the issuer within one month
after the securities are issued.
(3) Where the issuer does not pay the application money or purchase
price within 7 days after receiving the notice, the directors of the issuer shall
be personally, or jointly and severally, liable for the repayment.
(4) This section shall apply to a sale of securities in the same way as it
applies to an issue of securities, as if a reference to the issuer were a reference to the seller.
[Issue 1] S7 – 30
Revised Laws of Mauritius