The PCC is a special legal structure made up of cellular and non-cellular assets and Mauritius is one of the few jurisdictions offering this form of company. It provides legal segregation and protection of cellular assets attributable to each cell of the company whether owned by individuals or body corporate. PCCs are governed by the Protected Cell Company Act 1999 and provide security and flexibility to operate with segregated assets. The assets of one cell do not relate to the assets of other cells.
The PCC offers a wide range of applications such as asset holding; structured finance business; collective investment schemes and close-ended funds. It is attractive to Global Business funds with each cell offering specific types of investment products. PCCs may also be used for life insurance, insurance & re-insurance and composite insurance. The responsibility of directors is very strict as they must ensure the protection and segregation of assets, especially in relation to third parties dealing with the PCC.
Important features of a PCC