University of Birmingham and Mauritius - University of Birmingham
See who you know at Air Mauritius, leverage your professional network, and get to build even better synergies in order to meet our customer's expectations. The University has a long history of welcoming students from Mauritius. at grade C or above in the Overseas High School Certificate is sufficient to meet the standard English language requirements. To contact Joelle with your questions , please email [email protected] Campus Abroad Mauritius Ltd. Meet Terry Smith, the 'Maverick of Mauritius' who runs £18bn Fundsmith spanning three continents (from the UK, United States and Africa).
The impressively stocked Lambic boasts around 30 beers, mainly from Belgium Address: Owned by ex-South African rugby player, Kabous Van der Westhuisen, it can get pretty rowdy at weekends.
The Beach House is the perfect spot for a sundowner Address: Tues-Sun 11am until late Moustache Bistro Its Movember year round at this Tamarin bistro and wine shop, where the cab of a moustache-clad Vintage Bedford truck at the entrance, hints at the kookiness within.
In a tiny traditional Creole house with wooden beams, it pairs gourmet wines by the glass or bottle MUR corkage — guided by a sommelier in the well-stocked wine shop - with delicious modern tapas, in elegant but eccentric surrounds. Farmhouse-style wooden tables lie under chandeliers made from upside-down wine bottles, and photographs of celebrities — from Mahatma Ghandi to David Beckham - with moustaches stuck on their faces, line the walls.
Its Movember year round at this Tamarin bistro and wine shop Address: Other The CCG expands the duties of directors.
Further, the directors of an offeree have specific duties in relation to a takeover, under the Securities Takeover Rules Can a director's liability be restricted or limited? Is it possible for the company to indemnify a director against liabilities? A company cannot indemnify, or directly or indirectly effect insurance for, a director of the company or a related company relating to liability for any act or omission in his capacity as a director, or relating to costs incurred by that director in defending or settling any claim or proceedings relating to such liability, except as provided under section of the Act.
Can a director obtain insurance against personal liability? If so, can the company pay the insurance premium? Subject to its constitution, a company can, with the prior approval of the board, effect insurance for a director of the company or a related company relating to: Liability, not being criminal liability, for any act or omission in his capacity as a director.
Costs incurred by that director in defending or settling any claim or proceeding relating to any such liability. Costs incurred by the director in defending any criminal proceedings: The board must do one of the following in relation to details of indemnity given to or insurance effected for a director of the company or a related company: Enter or cause them to be entered in the interests register, if the company has one.
Record or cause them to be recorded in the minutes of directors meetings. Disclose or cause them to be disclosed in the annual report. Can a third party such as a parent company or controlling shareholder be liable as a de facto director even though such person has not been formally appointed as a director?
This is possible because the definition of director under the Act is very broad. Director is defined under the Act as including a person occupying the position of director of the company by whatever name called and an alternate director, but does not include a receiver.
For the purposes of sections to and to of the Act, a director also includes: A person in accordance with whose directions or instructions a director may be required or is accustomed to act. A person in accordance with whose directions or instructions the board of the company may be required or is accustomed to act. A person who exercises or who is entitled to exercise, or who controls or who is entitled to control, the exercise of powers which, apart from the constitution of the company, are exercisable by the board.
A person to whom a power or duty of the board has been directly delegated by the board with that person's consent or acquiescence, or who exercises the power or duty with the consent or acquiescence of the board. The above does not include a person acing in a professional capacity only.
For the purposes of sections to of the Act, a director includes a person in accordance with whose directions or instructions a person referred to above may be required or is accustomed to act in respect of his duties and powers as a director. Transactions with directors and conflicts Are there general rules relating to conflicts of interest between a director and the company?
University of Birmingham and Mauritius
Where directors are interested in a transaction to which the company is a party, they must disclose the interest in accordance with the Act. A director of a company must, immediately after becoming aware that he is interested in a transaction or proposed transaction with the company, cause to be entered in the interests register if it has one and, if the company has more than one director, disclose to the board of the company, either: The nature and monetary value of that interest, where the monetary value of the director's interest can be quantified.
The nature and extent of that interest, where the monetary value of the director's interest cannot be quantified. A general notice entered in the interests register or disclosed to the board, that a director is a shareholder, director, officer or trustee of another named company or other person, and is to be regarded as interested in any transaction after the date of entry or disclosure with that company or person, is a sufficient disclosure of interest in relation to that transaction.
However, failure by a director to comply with the above does not affect the validity of a transaction entered into by the company or the director. A director of a company is not required to comply with the above where both: The transaction or proposed transaction is between the director and the company. The transaction or proposed transaction is or is to be entered into in the ordinary course of the company's business and on usual terms and conditions. Are there restrictions on particular transactions between a company and its directors?
Subject to the constitution of the company, a director of a company who is interested in a transaction entered into, or to be entered into, by the company: In a public company, cannot vote on any matter relating to the transaction, and if he does vote, his vote is not counted.
A Guide To Mauritius Companies - Corporate/Commercial Law - Mauritius
In a private company, can vote on any matter relating to the transaction, provided he discloses his interest in the prescribed manner see Question Can attend a meeting of directors at which a matter relating to the transaction arises and be included among the directors present at the meeting for the purposes of a quorum.
Can sign a document relating to the transaction on behalf of the company. Can do any other thing in his capacity as a director in relation to the transaction, as if the director were not interested in the transaction. Are there restrictions on the purchase or sale by a director of the shares and other securities of the company he is a director of?
Where a director in his capacity as a director has information material to assessing the value of shares or other securities issued by the company or a related company, which is information not otherwise available to him, the director can only acquire or dispose of those shares or securities where either: In an acquisition, the consideration given for the acquisition is no less than the fair value of the shares or securities. In a disposition, the consideration received for the disposition is no more than the fair value of the shares or securities.
The fair value of shares or securities is to be determined on the basis of all information known to the director or publicly available at the time.
The above does not apply in relation to either: A share or security that is acquired or disposed of by a director only as a nominee for the company or a related company. In relation to a director of a public listed company, an acquisition of an interest in the securities of the reporting issuer or of an associate of the reporting issuer must be notified to the FSC within one month of the acquisition. Disclosure of information Do directors have to disclose information about the company to shareholders, the public or regulatory bodies?
Normally, disclosure of information about the company is done by annual reports.
Listed companies have ongoing disclosure obligations as part of compliance with the Listing Rules. As such, listed companies should provide to the Stock Exchange of Mauritius and the shareholders, as soon as reasonably practical, any information relating to the group including information on any major new developments in the group's sphere of activity which is not public knowledge which: Is necessary to enable them and the public to appraise the position of the group.
Is necessary to avoid the establishment of a false market in its securities. Might reasonably be to expected materially affect market activity in and the price of its securities. No statutory requirement to have a secretary in Mauritius or otherwise. Must have a registered office in Mauritius.
Must be administered by a management company directly. Must have a registered agent in Mauritius, which must be a management company. Must hold an annual meeting of shareholders. Not resident for tax purposes and therefore cannot claim double taxation relief under the double taxation treaties in force in Mauritius. Interest and royalty payments paid by GBL1 companies are tax exempt. No capital gains tax.
Formation of Companies Following the company name reservation with the Registrar of Companies and the payment of a fee for this, the following documents need to be submitted to the FSC: Details of all principals name and address, nationality, country of residence, business track record, photocopy of passport. In case of corporate owner, profile and audited financial statements of the company is required. Duly filled in and signed application forms. Payment of application fee to FSC.
Annual Requirements There are a number of annual requirements as follows: The records must be kept for at least seven years.