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Consultation Document: Guidelines on the issue of Commercial Papers

1.            The Bank of Mauritius (‘Bank’) has today, published a draft “Guidelines on the issue of Commercial Papers” (Guidelines), for public consultation.
2.            In terms of section 4 of the Finance (Miscellaneous Provisions) Act 2017, the Bank has, with effect from 24 July 2017, been granted authority to license and regulate the issue of Commercial Papers (CPs) in Mauritius, for the purpose of amongst others, enabling corporate borrowers to diversify their source of short-term borrowings and also to provide an additional instrument for investment.  The introduction of CPs in Mauritius is also expected to support the development of the domestic money market.
3.            The Guidelines govern the issuance of CPs in Mauritius and outline the minimum requirements that issuers and investors should meet, the procedures to be followed for CP issuance as well as the duties and obligations of all parties involved in the process.
4.            The Bank hereby invites the views and comments of all stakeholders on the draft Guideline, by 9 October 2017.  All submissions will be treated as public documents unless it is specifically requested to treat the whole or part of the submission as confidential.  Representations should be made in writing, either by letter or email, to:


The Second Deputy Governor

Bank of Mauritius

Sir William Newton Street,