registrar of companies (mauritius) presentation crf 2009

From paper based to electronic based registry

D.P.ChinienCorporate Registers Forum 2009 – March / April - Cape Town

1

BackgroundFactors behind the change Beginning of the changeInternational considerationBenchmarkingFinancial services sectorDoing Business Report

Corporate Registers Forum 2009 - Cape Town 2

How was this achieved?

Policy decision prior to 1984- corporate sector to be another pillar of the economy RegulatoryInstitutional International Benchmarking


Political and social climate-conducive to businessDemocracy and an independent judiciary contributed enormously Climate to give investor confidenceGood infrastructureHighly educated and skilled workforceFriendly relations with many countriesDouble taxation agreements with 33 jurisdictions


Companies Act 1984Companies Act 2001Financial services ActCode of Corporate GovernanceFinancial Reporting ActStock Exchange Act ( Securities Act)Insolvency Act 2009


Companies Division- Companies and BusinessesStock Exchange Commission (Financial Services Commission )Financial Reporting Council


Promotion of the corporate cultureExpectations of the public - Increased awareness Launch of « offshore » Implementation of Legislative reforms of 2001


•From paper to electronic…………….

•Making the Registrar ‘s office the central database for all entities•Need to review the actual system•Conversion of the Manual system into a computerised system•launch of the computerisation system – early 1990s


File No.:3000

Name of Company:

ABC Ltd

Incorporated: 01.01.90

File No.:3000

Name of Company:

ABC Ltd



File No.:3000

Name of Company:

ABC Ltd


File No.:3000

Name of Company:

ABC Ltd


File No.:3000

Name of Company:

ABC Ltd


File No.:3000

Name of Company:

ABC Ltd



ABC Ltd

Incorporated

ABC Ltd

Incorporated

‘Putting People First…………’


Customer Focus – through:- re-organisation of office layout Specialisation of unitsExcellent Customer Service Award 2003ISO certified - 2006Excellent Public service Award 2007Doing Business Report

“EASE OF DOING BUSINESS

The present framework for doing business and its incentive system works against democratising the economy and competitiveness

Mauritius ranks 32 nd in the 2006 Doing Business Survey….We must do better. We need to be in the top ten.the Registrar of Companies will be the sole place for a business to register before starting operations


Statutory - The Business Facilitation ActTo facilitate business – e.g no requirement under the Companies Act 2001 to reserve a company name Statutory obligation by the Registrar to communicate information to all departments/agencies


Applicant

Registrar of Businesses

BOIMRA Social Security Local Govt Sehda

Application for incorporation or

registration + Fees

Certificate of Incorporation Business Registration Card

and Guidelines


Online application for incorporation and Business Registration (October 2006)E-payment of yearly registration feesE-filing of corporate informationOnline search for corporate information Integrity of data: security audit carried out - Dec 2008ISMS- Information Security Management system –ISO27001


Internet

MNS ROC

Frame Relay

Incorporation

Business Registration

E-filing

Online search

E-payment of fees

InternalUsers

MACSS

Commercial Banks

Payment Instruction

Bank of Mauritius

GOC

ISO certification

Integrity of data: security audit carried out - Dec 2008

ISM- Information Security Management system –ISO 27001


The road to success…………… .

is a never – ending one !!!!
