Mauritius: Registered Agent

Appointment of registered agent

(1) A company which intends to apply for a Category 2 Global Business Licence shall, by a resolution of its directors appoint a registered agent in Mauritius.

(2) Every registered agent shall, within 14 days of his appointment apply to the Financial Services Commission ("FSC") for a Registered Agent Licence.

(3) An application under paragraph (2) shall -

(a) contain such information and particulars as may be acquired therein and shall be made in such form and in such manner as may be approved by the FSC.

(b) be dealt with in the same manner, as is provided for under section 20(3) and (4) of the Financial Services Development Act 2001.

(4) Where an application for a Registered Agent Licence is approved by the FSC, the Chief Executive shall, after payment by the applicant of the annual fee specified in item 4 of Part II of the Fourth Schedule of the Financial Services Development Regulations 2001, issue the Registered Agent Licence on behalf of the FSC subject to such terms and conditions as the Board of the FSC may impose.

(5) Where the annual fee in respect of a Registered Agent Licence is not paid within one month after the date when payment becomes due the FSC may, in writing, notify the holder of the licence that the licence has lapsed.

Change of registered agent

(1) A company holding a Category 2 Global Business Licence may, by a resolution of its directors, change its registered agent.

(2) The company shall, within 7 days of the resolution changing its registered agent, give written notice simultaneously to the FSC and to the Registrar of Companies ("RoC") of the change and of the name and address of the new registered agent.

Resignation of registered agent

(1) Where a registered agent proposes to resign as registered agent in respect of a company holding a Category 2 Global Business Licence and is unable to agree with the company on his replacement, he shall give notice in writing at least 60 days before his resignation-

(a) to the director or officer of the company at his last known address;

(b) where he has no notice or knowledge of any change in the name and address of any director or officer of the company from the one on his records, to the person from whom he last received instructions concerning the company;

(2) (a) A copy of the letter of resignation shall be submitted forthwith simultaneously to the FSC and to the RoC.

(b) The resignation of the registered agent shall take effect on the sixtieth day after submission of the letter of resignation to the FSC and to the RoC.

(3) Where-

(a) before the expiry of the notice by the registered agent under paragraph (1), the company fails to inform the FSC and the RoC of any change of name and address of his registered agent.

(b) The RoC has reasonable cause to believe that a company holding a Category 2 Global Business Licence does not have, or is likely to find itself without a registered agent.

The RoC shall cause to be published in the Gazette a notice that the company is to be removed from the register unless the company notifies him within 30 days from the publication of the notice of the name and address of its registered agent.

(4) The RoC shall-

(a) in accordance with the Companies Act 2001, remove from the register any company holding a Category Global Business Licence which fails to comply with a notice under paragraph (3); and

(b) cause to be published in the Gazette a notice to that effect.