• HOME
  • ABOUT
  • SERVICES
  • PRODUCTS
  • LATEST NEWS
  • GET IN TOUCH
  • OUR OFFICE
  • HOME
  • ABOUT
  • SERVICES
  • PRODUCTS
  • LATEST NEWS
  • GET IN TOUCH
  • OUR OFFICE
1 MIN READ

Filing Of Particulars: Frequently Asked Questions

September 7, 2016
<?php echo pulse_output(); ?>

What is this filing of particulars about?

Section 127 of the Mauritius Companies Act 2001 (Act) deals with the filing of details of any security interest created by a company over its assets with the Registrar of Companies in Mauritius (ROC).

 

Details of which type of security interests need to be filed?

The provision refers to “charges” which under the meaning of the Act, refers to most forms of security interest without any territorial limit. The definition of “charges” even refers to “an agreement to give a charge” which gives a very wide scope to the filing requirement.

 

Who is concerned by this filing of particulars?

Every company incorporated under the Act or registered under the Act (such as foreign companies which have migrated to Mauritius).

 

When is this filing of particulars required?

The filing has to be done within 28 days from the date of the agreement creating the charge.

 

What needs to be filed?

The company has to file a duly completed prescribed form giving the main particulars of the charge. Since 2012, a certified copy of the agreement creating the charge also needs to be filed.

 

What are the consequences of non- compliance?

The Act does not specify the sanctions for non-compliance with Section 127 and the ROC has not issued any circular to that effect. However, it is a recommended filing as a matter of good governance and record keeping. In addition, as the registers kept by the ROC are public, lenders would usually be advised to insist on this filing so that third parties are informed of the existence of the charge in their favour.

 

For more information visit:

http://www.mondaq.com/x/524160/Securities/Frequently+Asked+Questions+Filing+Of+Particulars+Of+Charges+Under+Section+127+Of+The+Companies+Act+2001

Related News

Other posts that you should not miss.

Tax Holiday Global Business Companies – 2016/2017

November 23, 2016

Income Tax Act 2016/2017 Tax Holiday for Global Business Companies were announced in the budget speech 2016/2017.  The speech included changes proposed to …

Read More →
1 MIN READ

Joint Communication by Mauritian Authorities on “Mauritius Leaks”

July 29, 2019

The International Consortium of Investigative Journalists (ICIJ) published various articles on Mauritius on the 23rd of July 2019, in the so-called …

Read More →
1 MIN READ

Mauritius is now off the UK’s List of High-Risk Third Countries

November 8, 2021

Mauritius is now off the United Kingdom’s list of High-Risk Third Countries as communicated by the Financial Services Commission (FSC) on …

Read More →
1 MIN READ
LC Abelheim | Filing Of Particulars: Frequently Asked Questions