Business updates

The Financial Services Commission (“the Commission”) takes cognizance of the Curfew Order dated 22 March 2020 (General Notice No.512 of 2020) issued by the Government of Mauritius (“the Curfew Order”), aimed at mitigating the spread of COVID-19 by way of a total lockdown of Mauritius. The Curfew Order is effective as from 23 March 2020 at 20:00 local time to 2 April 2020 at 20:00 local time.

The Commission is of the view that the orderly transaction of business on the securities exchange is being or is likely to be adversely affected due to the occurrence of the total lockdown.

Given that the total lockdown is one that is captured by the provisions of section 133(2) of the Securities Act 2005 and having been satisfied that the requirements of section 133(3) of the Securities Act 2005 are met, NOTICE is hereby given that the Commission has exercised its powers under section 133(1) of the Securities Act 2005 and ordered the Stock Exchange of Mauritius Ltd (“SEM”) to cease all securities transactions.

The Stock Exchange of Mauritius Ltd has also been directed to inform all of its market participants of measures it has put in place for an orderly resumption of the market.

The ORDER issued by the Commission to the Stock Exchange of Mauritius Ltd takes effect from 27 March 2020 at 20:00 local time and shall lapse on 2 April 2020 at 20:00 local time.

Read official communique here.