VOCATIONAL TRAINING INSTITUTE PRESENTS LAW RELATING TO FINANCIAL SERVICES IN MAURITIUS TRAINER: SivPotayya, Barrister , at Wortels Lexus Law Firm, reckoning 30 years of experience in financial services law MQA APPROVED HRDC REFUND
MODULE 1: LAW RELATING TO BANKING FINANCIAL SERVICES THE BANK OF MAURITIUS IS THE REGULATOR OF THE BANKING FINANCIAL SERVICES
MODULE 2: LAW RELATING TO NON BANKING FINANCIAL SERVICES THE FINANCIAL SERVICES COMMISSION IS THE REGULATOR OF THE NON BANKING FINANCIAL SERVICES
MODULE 1 BANKING FINANCIAL SERVICES Legal history of the banking regulator: the Bank of Mauritius • BANK ACCOUNT • Opening of a bank account • What is a bank? • What is a customer? • What is a bank account? • The nature of the contract between the bank and the customer
MODULE 1 (continued) • The provisions of the civil code governing a bank account • The law of contract • The implied terms of the contract • The express terms of the contract • Who can open a bank account? • Person of age • Minor children • Spouse under maiden name • Joint account- Joint account holders • A joint account “solidaire’ • A joint account “collectif” • Corporate entities • Others
MODULE 1 (continued) • Operation of a Bank Account • Closing of a bank account • Bank statements • Banking confidentiality • Who can have access to banking information? • How does Mauritius tilt the balance between ease of business and money laundering within the scope of the banking secrecy laws?
MODULE 1 (continued) • BANKING SECURITY INTEREST • Personal guarantee and real guarantee • Personal guarantee • Le cautionnement • Le contrat de cautionnement • La relation triangulaire • La caution ou fidéjusseur ( Co-caution ou Co-fidéjusseur) • Le cautionnement simple • Le bénéfice de division • Le bénéfice de discussion • Le cautionnement solidaire
MODULE 1 (continued) • Real Guarantee • Nantissement-Gage sur ‘’bien immeuble - antichrèse’’ and ‘’sur bien meuble’’ • Nantissement-Gage sans déplacement and Gage avec déplacement • Floatingand Fixed Charges – ‘’Sûretés flottantes et Sûretés fixes’’ • Pari-Passu and ranking of charges- difference between transcription, registration and inscription • Cession de priorité
MODULE 1 (continued) • Renewal of Charges • Special Bank privilege • Right of set-off • Responsibility and liability of Banks. • Realisation of security • Réalisation du cautionnement • Réalisation du gage • Crystallisation of the floating charge into a fixed charge • Realisationof the fixed charge • How does the Insolvency Act affect the rights of an inscribed creditor?
MODULE 2 • Genesis of the financial services in Mauritius • Evolution of the financial services in Mauritius • Financial Services Commission • Legal history of the non-banking regulator The FSC • Legal history of the FSC • Functions of the FSC • Powers of the FSC • Duties of the FSC • Regulation of Financial Services • What is the non-banking financial services? • Granting of licences by the FSC
MODULE 2 (continued) • Insurance The legal dimensions of insurance relationships • Global Business: what is Global Business • The incidence of the Double Taxation Agreements • Duties of Enforcement of the FSC • Committee and the Review Panel • Complaints and investigations
MODULE 2 (continued) • The Securities Act 2005 • Parts V-Prospectus • Part VII Takeovers • Securities (Takeover) Regulations • Outline • Collective Investment Schemes • Market Abuse • Stock Exchange • The rules and regulations • Listing Rules • Market manipulation • Protected Cell Companies • Trusts • The set-up of the trust
MODULE 2 (continued) • Trust deed • Settlor • Trustee (Powers and Duties) • Protector • End of trust • The local enactments, among others, commonly resorted to in financial services • How do they interrelate? • The practical approach by practitioners of financial services
Register now • For more information please visit • www.vti.ltd.mu • The courses are offered in house and an interesting package for a minimum of 12 trainees • The modules are run over a period of 12 hours for 2 days