Transcript VOCATIONAL TRAINING INSTITUTE PRESENTS

LAW RELATING TO
FINANCIAL
SERVICES IN
MAURITIUS
TRAINER: Siv Potayya, Barrister , at
Wortels Lexus Law Firm, reckoning
30 years of experience in financial
services law
MQA APPROVED
HRDC REFUND
THE BANK OF MAURITIUS
IS THE REGULATOR OF
THE
BANKING FINANCIAL SERVICES
THE FINANCIAL SERVICES
COMMISSION
IS THE REGULATOR
OF
THE NON BANKING FINANCIAL
SERVICES
BANKING FINANCIAL SERVICES
Legal history of the banking
regulator: the Bank of Mauritius
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BANK ACCOUNT
Opening of a bank account
What is a bank?
What is a customer?
What is a bank account?
The nature of the contract
between the bank and the
customer
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The provisions of the civil code
governing a bank account
The law of contract
The implied terms of the contract
The express terms of the contract
Who can open a bank account?
Person of age
Minor children
Spouse under maiden name
Joint account- Joint account holders
A joint account “solidaire’
A joint account “collectif”
Corporate entities
Others
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Operation of a Bank Account
Closing of a bank account
Bank statements
Banking confidentiality
Who can have access to banking
information?
How does Mauritius tilt the
balance between ease of business
and money laundering within the
scope of the banking secrecy
laws?
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BANKING SECURITY INTEREST
Personal guarantee and real
guarantee
Personal guarantee
Le cautionnement
Le contrat de cautionnement
La relation triangulaire
La caution ou fidéjusseur ( Cocaution ou Co-fidéjusseur)
Le cautionnement simple
Le bénéfice de division
Le bénéfice de discussion
Le cautionnement solidaire
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Real Guarantee
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Nantissement-Gage sur ‘’bien
immeuble - antichrèse’’ and ‘’sur
bien meuble’’
Nantissement-Gage sans
déplacement and Gage avec
déplacement
Floating and Fixed Charges –
‘’Sûretés flottantes et Sûretés fixes’’
Pari-Passu and ranking of chargesdifference between transcription,
registration and inscription
Cession de priorité
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Renewal of Charges
Special Bank privilege
Right of set-off
Responsibility and liability of
Banks.
Realisation of security
Réalisation du cautionnement
Réalisation du gage
Crystallisation of the floating charge
into a fixed charge
Realisation of the fixed charge
How does the Insolvency Act affect
the rights of an inscribed creditor?
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Genesis of the financial services in
Mauritius
Evolution of the financial services in
Mauritius
Financial Services Commission
Legal history of the non-banking
regulator The FSC
Legal history of the FSC
Functions of the FSC
Powers of the FSC
Duties of the FSC
Regulation of Financial Services
What is the non-banking financial
services?
Granting of licences by the FSC
Insurance
The legal dimensions of insurance
relationships
 Global Business: what is Global
Business
 The incidence of the Double
Taxation Agreements
 Duties of Enforcement of the FSC
 Committee and the Review Panel
 Complaints and investigations
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The Securities Act 2005
Parts V-Prospectus
Part VII Takeovers
Securities (Takeover) Regulations
Outline
Collective Investment Schemes
Market Abuse
Stock Exchange
The rules and regulations
Listing Rules
Market manipulation
Protected Cell Companies
Trusts
The set-up of the trust
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Trust deed
Settlor
Trustee (Powers and Duties)
Protector
End of trust
The local enactments, among
others, commonly resorted to in
financial services
How do they interrelate?
The practical approach by
practitioners of financial services
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For more information please visit
www.vti.ltd.mu
The courses are offered in house
and an interesting package for a
minimum of 12 trainees
The modules are run over a
period of 12 hours for 2 days