Section 71(6) of the Financial Services Act 2007 has been amended by the Economic and Financial Measures (Miscellaneous Provisions) Act 2013 to provide greater flexibility for Category 1 Global Business Companies (GBC1s) to conduct business in Mauritius, subject to such restrictions, terms and conditions as may be provided in any guidelines issued by the FSC.
Sections 4 and 5 of Chapter 4 of the Guide to Global Business have been amended to provide guidance to investors and service providers with respect to the determination of conduct of business by GBC1s.
The FSC will take appropriate actions where a holder of a Category 1 Global Business Licence fails to comply with any guidelines or Rules issued by the FSC.
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