Office of The President
‘STATE HOUSE, MAURITIUS:
COMMUNIQUE
Terms of Reference of the Commission of Inquiry into (1) The
Regulatory Authorization of Business and Financial Services Entities
held and controlled directly or indirectly by Mr Alvaro Sobrinho and his
relevant counterparts in Mauritius (2) Leaking of Banking Records (3)
Conduct of the President in relation to credit card issued by Planet
Earth Institute.
The Office of the President of Mauritius wishes to inform of the setting
up of a Commission of Inquiry as described above.
‘The President of the Republic of Mauritius hereby appoints Sir Hamid
Moollan, G.0.8.K, QC. as Chairman and Commissioner under the
Commission of Enquiry Act of the said Commission of Enquiry.
‘The Terms of Reference of the Commission of Inquiry shall be, inter
alia, as follows:
1. Togather all information in relation to the application of the investment
banking license made by companies or entities directly or indirectly
owned by Mr. Alvaro Sobrinho at the Financial Services Commission;
2. To investigate into the due diligence carried out by the Financial
Services Commission on the companies or entities owned by Mr, Alvaro
Sobrinho;
To investigate on to whether the Financial Services Commission, Bank:
of Mauritius and/or any such other regulatory bodies or Government
departments, had received adverse reports on the companies or entities
owned directly or indirectly by Mr. A. Sobrinho and to report on the
action taken there!
4. To investigate whether there has been interference by any person(s) in
such a manner so as to facilitate and/or influence the granting of the
Investment Banking License;
5. To investigate into any matter within its remit, seek any information
from any stakeholder and/or any person, which is necessary to
satisfactorily discharge its duties;6. To investigate and report on all aspects of the application of the license;
Ts To seek information from all available sources including overseas;
8. To scrutinize all documents in relation to the application of the license;
9, To investigate the circumstances in which H.E The President was
appointed on the board of the PEl;
10. To investigate the circumstances and rationale of issuing a Barclays
Platinum Card to H.E the President of the Republi
11. To look into and scrutinize all transactions of the Platinum card by H.E
the President ;
12. To inquire into and report as to the circumstances leading to the
publication of confidential banking records in the press;
13, To inguire into the relevant mechanisms utilized and the parties
involved in order to leak the banking records to the press;
14, Make such recommendations as may be considered to be of public
interest;
15. To report its findings and make any recommendations deemed
necessary in relation thereto.
Office of the President 16 March 2018
State House
Le Reduit