Mauritius Sugar Syndicate Act

320 1 2 3 4 Mauritius Laws 1990 Vo/3 MAURITIUS SUGAR SYNDICATE ACT Short title Interpretation Establishment of Syndicate Legal proceedings RL 3/651-31 December 1951 ARRANGEMENT OF SECTIONS 5 6 7 8 Privilege ot lenders Rights of creditors of planters Deed establishing Syndicate Exemption from duty 1 Short title This Act may be cited as the Mauritius Sugar Syndicate Act. 2 Interpretation In this Act "Committee" means the Committee of the Mauritius Sugar Syndicate; "planter" means the owner of a sugar cane plantation or of a sugar factory; "Secretary" means the Secretary of the Committee of the Mauritius Sugar Syndicate; "Syndicate" means the Mauritius Sugar Syndicate. 3 Establishment of Syndicate The Syndicate is declared to be lawful to all intents and purposes. 4 Legal proceedings (1) No action or suit shall abate or be discontinued on account of the death or removal of any member of the Committee or any officer of the Syndicate. (2) All notices, summonses and any judicial process shall be served upon or at the instance of the Secretary. 5 Privilege of lenders (1) A special privilege is established in favour of all persons, companies, bankers or others from whom the Committee may borrow money (a) to meet the cost of management of the Syndicate; (b) to make advances to planters forming part of the Syndicate. (2) (a) A privilege under subsection (1) shall extend over all sugars generally deposited by planters in the docks in Port Louis, in the name of the Syndicate, whether the sugars belong to planters taking advances or not. (b) No inscription of this privilege in the Mortgage Office shall be required. (3) The Committee may also, without the consent of the owners of the sugars, pledge the whole or part of the sugars registered in the name of the Syndicate. 6 Rights of creditors of planters Creditors of planters forming part of the Syndicate shall (a) not intervene in the transactions of the Committee; (b) have no right on the sugars of the planters forming part of the Syndicate, whether before or after the arrival of the sugars in the docks and the registration of the sugars in the name of the Syndicate; (c) not seize the sugars, but may attach in the hands of the Committee such sums as may accrue to their debtors. 7 Deed establishing Syndicate The deed drawn up by Mr Notary Edgar Raoul de Robillard on 29 June 1951 witnessing the formation of the Syndicate shall be binding on the parties to it and on any subsequent member of the Syndicate as well ~s on tbeir 1-if-';rr. ~- .cce::.;or:- or i'ssig,~< .. Mauritius Sugar Syndicate 321 8 Exemption from duty All sales of sugar made in virtue of the deed specified in section 7 and of transactions referred to in section S shall be free from stamp and other duties except stamp duty on receipts, and shall be exempt from registration.