Revocation of Tukay Shipping Incorporated Financial Services Authorization
Summary
The Financial Services Commission, Mauritius revoked the authorization of Tukay Shipping Incorporated (Authorization No. AU24201179) under section 74(5) of the Financial Services Act. The company has been directed to initiate orderly dissolution proceedings and discharge liabilities per the Insolvency Act.
What changed
The FSC Mauritius has revoked the financial services authorization of Tukay Shipping Incorporated (Authorization No. AU24201179) effective 30 September 2025, pursuant to section 74(5) of the Financial Services Act read with section 71A(6). This is an enforcement action under reference ENF/30I25/22 that removes the entity from the FSC's list of authorized persons.
Regulated entities and investors with exposure to Tukay Shipping should immediately cease any business dealings with the entity as an authorized financial services provider. The revoked company is required to initiate orderly dissolution proceedings under the Insolvency Act to discharge its liabilities. Any counterparties, custodians, or fund administrators should review existing arrangements and prepare for the entity's formal winding up.
What to do next
- Verify that Tukay Shipping Incorporated (AU24201179) no longer appears on FSC Mauritius authorized entities register
- Terminate or transition any existing arrangements with Tukay Shipping as an authorized entity
- Review exposure and outstanding liabilities related to Tukay Shipping for potential recovery actions
Penalties
Revocation of authorization; directed to initiate orderly dissolution and discharge liabilities under the Insolvency Act
Source document (simplified)
REVOCATION NOTICE
Revocation of Authorisation– Tukay Shipping Incorporated Ref: ENF/30I25/22 The Financial Services Commission, Mauritius (the “FSC”) hereby informs the public that the authorisation of Tukay Shipping Incorporated, bearing Authorisation No. AU24201179, has been revoked pursuant to section 74(5) of the Financial Services Act 1
(“FSA”).
In accordance with section 74(7)(b) of the FSA, Tukay Shipping Incorporated has been directed to initiate the necessary actions for the orderly dissolution of its business and the discharge of its liabilities in accordance with the Insolvency Act. 30 September 2025
1 Section 74(5) is to be read in conjunction with Section 71A (6) of the FSA, which provides that “Sections 44(6), 73A, 74 and 75 shall apply to an Authorised Company in the same way as they apply to the holder of a Global Business Licence, as if a reference to a holder of a Global Business Licence is a reference to an Authorised Company and a reference to Global Business Licence is a reference to an authorisation issued under section 71A.” Financial Services Commission FSC House, 54 Cybercity Ebene, 72201 Mauritius www.fscmauritius.org T: (+230) 403-7000 F: (+230) 467-7172 E: mail@fscmauritius.org
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