CHAPTER 30 / 55 · Paid
FS-6.1 Investment Banking Licence.
Financial Services Act section 79A. It is not an investment-dealer licence.
Approx. 12 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
FSC · FS-6.1 · Licence
1. CapitalIsle Ltd’s shop
CapitalIsle Ltd is the desk this chapter is for. Carry on investment-banking business under the dedicated section 79A licence.
The first file on the desk is this. CapitalIsle Ltd will advise on takeovers and underwrite equity issues from Mauritius, without taking deposits. FS-6.1 / section 79A.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Financial Services Act 2007, Section 79A. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not an investment dealer (SEC-2.1A), not FS-1.9 global treasury, and not a bank.
Third, the assumptions stay in the file. Fictional boutique. Cut-off 20 September 2026.
Financial Services Act 2007, Section 79A. See the register note · Open the published text ↗.
2. A week with An M&A and underwriting boutique
Monday. The promoter walks in with “An M&A and underwriting boutique.” Write the facts before anyone names a code: CapitalIsle Ltd will advise on takeovers and underwrite equity issues from Mauritius, without taking deposits.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Carry on investment-banking business under the dedicated section 79A licence.
Wednesday. They record what this permission is used for. FS-6.1 / section 79A.
Thursday. They write what the letter does not cover. Not SEC-2.1A by itself, not a banking mode, not FS-1.9.
Friday. They lock the assumptions. Fictional boutique. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what FS-6.1 is used for. The Act matters when CapitalIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
An M&A and underwriting boutique
CapitalIsle Ltd will advise on takeovers and underwrite equity issues from Mauritius, without taking deposits.
Why it fits. FS-6.1 / section 79A.
Different paper
The same promoter asks for an investment dealer (SEC-2.1A)
The slide says the FS-6.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not SEC-2.1A by itself, not a banking mode, not FS-1.9.
Different paper
The same promoter asks for FS-1.9 global treasury
The slide says the FS-6.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not SEC-2.1A by itself, not a banking mode, not FS-1.9.
| The promoter asks CapitalIsle Ltd to… | This licence? | Why |
|---|---|---|
| An M&A and underwriting boutique | Yes | FS-6.1 / section 79A. |
| The same promoter asks for an investment dealer (SEC-2.1A) | No | Keep the neighbouring paper off this desk. Not SEC-2.1A by itself, not a banking mode, not FS-1.9. |
| The same promoter asks for FS-1.9 global treasury | No | Keep the neighbouring paper off this desk. Not SEC-2.1A by itself, not a banking mode, not FS-1.9. |
4. Papers that sit beside this one
Not an investment dealer (SEC-2.1A), not FS-1.9 global treasury, and not a bank. Name the other desk when the work changes: an investment dealer (SEC-2.1A); FS-1.9 global treasury; a bank.
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
An applicant under section 79A. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 100,000. Status at cut-off: Published investment-banking category as at 1 July 2026.
Who may hold it. An applicant under section 79A. Dealer, adviser or CIS permissions remain separate if those activities are also carried on.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. FS-6.1 criteria. Do not treat a full-service dealer licence as an investment-banking licence.
Rules, codes and circulars. CL20260107 for fees. Former tax items that once mentioned investment banking are a Mauritius Tax question; they are not this licence.
6. How to cite FS-6.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | FS-6.1 Investment Banking Licence |
| Legal nature | Licence |
| Enabling law | Financial Services Act 2007 · Section 79A |
| Fees as at 1 July 2026 | Processing fee Rs 100,000. Fixed annual fee Rs 500,000. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published investment-banking category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open FS-6.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteFinancial Services Act 2007 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register noteSecurities Act 2005 ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Securities Act 2005 ↗ Sections 9–11, 29–30, 53, 86, 97–101, 155(2)(xc) · Register note
Sign up to continue
Progress and quiz scores are saved on this browser only.