The COVID-19 (MISCELLANEOUS PROVISIONS) Act amends some 56 legislations which the COVID-19 pandemic context rendered necessary to mitigate its negative impact on the Mauritian economy and on the lives of Mauritians in general.
Our guide to the issues likely to impact businesses and the key measures taken by African governments in response to COVID-19.
While the outbreak of the COVID-19 pandemic subsists, the risks for businesses of not being able to fulfil their contractual obligations or of experiencing the default of the other contracting party is a real concern for economic operators. To manage this unprecedented situation and provide an adequate response, a careful analysis of the contract terms is essential to enable parties to exercise their rights if a dispute arises from non-performance. As a first step, it will generally be a question of analysing the possibility of invoking the defence mechanism of force majeure.
The unravelling situation with the COVID-19 pandemic has caused significant financial turmoil in Mauritius. A likely effect of these disturbances could result in companies going for winding-up and other alternatives available under Mauritian law.
Following the outbreak of COVID-19 and its development into a global pandemic, governments, public and private organisations throughout the world are taking exceptional measures to contain and mitigate its spread.
In an attempt to curb the spread of the COVID-19 in Mauritius, the government took the decision to extend the sanitary curfew until 15 April 2020. Employers around the world are facing similar challenges, dealing with government-mandated shutdowns, sick and self-isolating employees, homeworking arrangements and economical constraints.
In 2017, the Companies Act was amended to provide that the share register of companies should disclose the names and last known addresses of the beneficial owners/ultimate beneficial owners where shares are held by a nominee.
With the advent of the Workers’ Rights Act (“WRA”), we have seen our labour laws being challenged in many ways in Mauritius. At first, our attention was quickly grasped by the additional leaves which have been brought by the WRA, the calculation of the end of year bonus and, more especially, by the new definition given to the word ‘worker’ under the WRA. We should, however, realise that these are not the only elements which will affect the financial impact which the WRA is having on our economy.
The Financial Services Commission (“FSC”), the integrated regulator for non-banking financial services and global business sectors, which is highly supportive of Fintech-related initiatives, issued on 15 June 2020, pursuant to section 7(1)(a) of the Financial Services Act 2007, guidance notes on a common set of standards for Security Token Offerings and the licensing of Security Token Trading Systems.
In a communique issued by the Government of Mauritius on the 9 May 2020, it is highlighted that “unlike in the past when there were always fruitful consultations” between the EU and Mauritius, there were this time no consultations whatsoever before the announcement of the “Blacklist” and that the decision of the EU is ”contrary to the spirit of dialogue and partnership which binds Mauritius and the EU.”
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