To align the Mauritius International Financial Centre to international norms and standards pertaining to AML/CFT and meet the Financial Action Task Force (FATF) requirements, the Anti-Money Laundering and Combatting the Financing of Terrorism (Miscellaneous Provisions) Act 2020 (the “Act”) was approved by the Mauritian Parliament and came into force on 9 July 2020.
This highlight sets out the changes to the laws brought by the Act which are relevant to the Global Business sector.
This obligation will apply where shares of the company are held by a nominee shareholder.
 Competent authority means (a) a public body responsible to combat money laundering or terrorist financing; and (b) includes an investigatory authority. Investigatory authority has the same meaning as in the Financial Intelligence and Anti-Money Laundering Act.
 Basic information means (a) the company name, proof of incorporation, legal form and status, the address of its registered office, basic regulating powers, a list of its directors; and (b) a register of its shareholders or members, containing the names of the shareholders and members and number of shares held by each shareholder and categories of shares, including the nature of the associated voting rights.