On Oct. 7, MAU ICAC notified MAU PRL outgoing members of duty.
MAU ICAC issued communiqué on obligation to submit declaration of assets pursuant to Declaration of Assets Act 2018, as amended, after dissolution of National Assembly.
Follows MAU ICAC Apr. 2024 issued communique on new Act requirements, #210442.
Overview
Post dissolution of National Assembly on Oct. 4, 2024, outgoing members notified of obligations under section 4(1)(c) of Declaration of Assets (DOA) Act 2018, as amended, to make declaration of assets, liabilities with Financial Crimes Commission.
All outgoing members must submit First Schedule DOA form, by way of affidavit duly sworn before Supreme Court of Mauritius; submit declarations not later than 30 days, post Oct. 4, 2024; declare assets and liabilities of their spouse and minor children.
First Schedule DOA form available on FCC website, may also be requested by email.
Per Financial Crimes Commission Act 2023, declarants required to also declare 4 new additional assets: gold coins exceeding 500,000 rupees in value; any virtual asset; work of art exceeding 500,000 rupees in value; Waqf property under Waqf Act 1941.
In this context, all declarants required to make declarations of additional assets by way of Annex to First Schedule DOA form.
Failure to comply with statutory deadline shall result in of penalty of 5,000 rupees per month or part of month on declarant until such time as the declaration is submitted.
The total penalty payable for such failure shall not exceed 50,000 rupees.
Effectiveness
Declarations must be submitted by Nov. 3, 2024.
Regulators
MAU ICAC
Entity Types
Corp
Reference
Com 10/7/2024; FCC Act 2023 (MAU); DOA Act 2018 (MAU); Waqf Act 1941
