Mauritius Act definition
Examples of Mauritius Act in a sentence
This Act may be cited as the Open University of Mauritius Act 2010.
Authority This guideline is issued under the authority of section 50 of the Bank of Mauritius Act 2004 and section 100 of the Banking Act 2004.
The Bank is exempted from any tax imposed on income, profits or capital gains under section 64 of the Bank of Mauritius Act 2004.
However, for the purpose of determining the net profits of the Bank in terms of section 11 of the Bank of Mauritius Act 2004, foreign exchange differences are excluded in accordance with section 47(2) of the Act.
This Guideline is issued under the authority of section 50 of the Bank of Mauritius Act 2004 and section 100 of the Banking Act 2004.
Editor’s NoteAccording to the Bank of Mauritius Act 2004, the primary object of the Bank shall be to maintain price stability and to promote orderly and balanced economic development.
The Bank is responsible for the preparation and fair presentation of the financial statements in conformity with the accounting principles applicable to central banks and best international practices pursuant to section 31(1) of the Bank of Mauritius Act 2004 and in accordance with International Financial Reporting Standards.
In terms of Section 48 of the Bank of Mauritius Act, the Bank may organise, own, participate in and operate payment, clearing and settlement systems.
I/We understand that Section 52 of the Bank of Mauritius Act 2004 established a Central Credit Bureau, namely the ‘Mauritius Credit Information Bureau’ (MCIB) that acts as a repository of credit information, both positive and negative on all recipients of credit facilities and guarantors.
Section 48(1) of the Bank of Mauritius Act 2004 provides for the Bank, in conjunction with banks, to organize a clearing house to facilitate the clearing of cheques and other payment and credit instruments and issue instructions concerning such instruments, their processing, collection, payment and retention and the functioning of other clearing houses that it may authorize.