THE COVID 19 (MISCELLANEOUS PROVISIONS) ACT 2020: IMPACT ON THE FINANCIAL SERVICES SECTOR

Click here to view our full brief – The COVID 19 (Miscellaneous Provisions) Act 2020

The Government of Mauritius (‘the Government’) announced, on 10 May 2020, that the COVID-19 (Miscellaneous Provisions) Bill (‘the Bill’) and the Quarantine Bill would be introduced to the National Assembly, on 13 May 2020, by the Prime Minister. In particular, the Government highlighted that the Bill and the Quarantine Bill would amend 56 enactments to cater for and mitigate the impact of the pandemic of novel COVID-19 (‘Coronavirus’) as well as to restore the economy of Mauritius.

The Bill was enacted by Parliament on the 15 May 2020 bringing along the following numerous legislative amendments touching key areas such as the Workers’ Rights Act, Companies Act, Income Tax Act, Insolvency Act and the Landlord and tenant Act.

Whilst the lockdown in Mauritius has been extended to the 1st of June 2020 so as to prevent a second wave of the Coronavirus, a soft launch of economic activities started in the country on 15 May 2020 which allowed only those detaining a Work Access Permit (“WAP”) to resume work or operate.

The COVID-19 (Miscellaneous Provisions) Act defines the ‘COVID-19 Period’ as the period starting from 23 March 2020 and ending on 1 June 2020 or such later date as may be prescribed by the Prime Minister through Regulations.

As for the new Quarantine Act 2020, the framework sets out the implementation of rigid measures together with stringent fines and imprisonment terms with the aim to better contain the spread of infectious and communicable diseases with reference to the COVID-19 experience.

In light of the above, we, at Tri-Pro Administrators Ltd, have prepared this brief to highlight the salient features of the legislative amendments and developments which are relevant to our clients and stakeholders within the Financial Services Sector.

Related posts