Mauritius
Savings Bank (Transfer of Undertaking) Act
Act 16 of 2003
- Commenced on 1 August 2003
- [This is the version of this document at 30 June 2017.]
1. Short title
This Act may be cited as the Savings Bank (Transfer of Undertaking) Act.2. Interpretation
In this Act—"appointed day" means 1 August 2003;[EDITORIAL NOTE: "appointed day" prescribed by GN 112 of 2003.]"Company" means the Mauritius Post and Cooperative Bank Ltd incorporated under the Companies Act;"Consolidated Fund" means the Consolidated Fund referred to in section 103 of the Constitution;"depositor" means a person by whom or on whose behalf a deposit was made at the Savings Bank;"Minister" means the Minister to whom responsibility for the subject of finance is assigned;"repealed Act" means the Savings Bank Act;"repealed enactments" means the enactments referred to in section 10;"Savings Bank" means the Mauritius Post Office Savings Bank and its branches set up under the repealed Act;"undertaking" means the assets, rights, interests and liabilities of the Savings Bank, whether in Mauritius or elsewhere.3. Transfer of undertaking
4. Effect of transfer of undertaking
Notwithstanding any other enactment or anything contained in any contract or agreement—5. Transfer of deposit accounts
6. Last annual accounts of Savings Bank
Notwithstanding any other enactment, the last financial year of the Savings Bank shall be deemed to be the period between the date immediately following the date of the closing of the last annual accounts of the Savings Bank and the appointed day.7. Pending proceedings
Any action, arbitration, proceedings or cause of action relating to the undertaking referred to in section 3 which, immediately before the appointed day, may be pending or in process against or in favor of the Savings Bank, or to which the Savings Bank is a party, may be continued and enforced by, against or in favor of the Company.8. Evidence
Any document, matter or thing which, if this Act had not been passed, would have been admissible in evidence in respect of any matter for or against the Savings Bank shall, on or after the appointed day, be admissible in evidence in respect of the same matter for or against the Company.9. Regulations
The Minister may make such regulations as he thinks fit to provide for any matter necessary for, or consequential to, the implementation of this Act.10. ***
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History of this document
30 June 2017 this version
Consolidation
01 August 2003
Commenced