Mauritius
Protected Cell Companies Act
Act 37 of 1999
- Commenced on 1 January 2000
- [This is the version of this document at 30 June 2017.]
Part I – Preliminary
1. Short title
This Act may be cited as the Protected Cell Companies Act.2. Interpretation
3. Legal regime applicable to protected cell companies
Subject to this Act—Part II – Protected cell companies
4. Incorporation or registration
5. Continuation
6. Name and Memorandum
7. Creation of one or more cells
8. Cellular and non-cellular assets
9. Cell shares and cell share capital
10. Reduction of cell share capital
Part III – Creditors
11. Liability of a protected cell company
12. Liability of cellular assets
13. Creditors of a protected cell company
14. Recourse to cellular assets by creditors
Without prejudice to sections 12 and 13, cellular assets attributable to a cell shall—15. Transfer of cellular assets
16. Liabilities and non-cellular assets
17. Protection of creditors
18. Power of Commission in respect of guarantee
Where the liabilities of a protected cell company exceed its assets, the Commission may require the company to furnish such guarantees, including policies of insurance, which are in an acceptable form, to the shareholders of each of its cells.[S. 18 amended by s. 46 (8) (e) of Act 13 of 2001 w.e.f. 1 December 2001.]Part IV – Administration order
19. Application for administration order
20. Administration order
21. Functions of administrator
22. Discharge and variation of order
23. Remuneration of administrator
The remuneration of an administrator, and any expenses properly incurred by him, shall be payable in priority to all other claims—Part V – Receivership order
24. Application for receivership order
25. Receivership order in relation to cells
26. Functions of receiver
27. Discharge and variation of order
28. Remuneration of receiver
The remuneration of a receiver and any expenses properly incurred by him shall be payable, in priority to all other claims—Part VI – Liquidation
29. Liquidation of a protected cell company
Part VII – Miscellaneous
30. Regulations
30A. Savings
31. ***
History of this document
30 June 2017 this version
Consolidation
01 January 2000
Commenced