| Department | Department for the Economy |
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| Start date | 08/07/2024 |
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| End date | 16/08/2024 |
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| Type of consultation | Green paper |
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| Deadline for comments | 16/08/2024 |
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About the consultation
Give your views on proposed amendments to
the Trusts (Jersey) Law 1984 TJL84), the framework law upon which the trusts industry's reputation for offering a sophisticated product and a high level of service to a worldwide body of clients is based.
The TLJ84 is under review to ensure that it continues to support the needs of those establishing Jersey law trusts, together with their beneficiaries and trustees.
Subject to this consultation's responses, amendments will be brought forward during 2024 for adoption.
Consultation details
This consultation considers proposals for amendments to the law which have arisen out of recent court decisions.
There are 5 areas for consultation:
- confirmation of the priority of claims between a former and current trustee and a secured lender given the recent case on ‘insolvent trusts’ (Re Z)
- the ability of beneficiaries to call for the termination or variation of a trust pursuant to either Article 43 of the TJL84 and/or the rule in Saunders v Vautier
- clarifying the position where a sole trustee purports to resign
- minor corrections in relation to Articles 24, 43, and 55
- the concept of a ‘data trust’
Consultation Paper: Amendments to the Trusts (Jersey) Law 1984
This paper should be read in conjunction with the
TJL84 and references a variety of other documents, links to which appear in the document as appropriate.
How to submit comments to the consultation
You can submit your comments no later than Friday 16 August 2024.
You are free to answer any or all of the 16 questions, which are listed in the consultation paper above, and in the online response form.
Give your comments on the Amendments to the Trusts (Jersey) Law 1984
You can also respond:
- by email: Economy@gov.je with the subject line FAO Louise Richardson
- in writing:
FAO Louise Richardson,
Department for the Economy,
19-21 Broad Street,
St Helier,
Jersey JE2 3RR
Jersey Finance will also be collating an industry response, to which you can contribute:
-
by email: Sally.Edwards@jerseyfinance.je
- in writing to:
Sally Edwards,
Jersey Finance Limited,
4th Floor, Sir Walter Raleigh House,
48-50 Esplanade,
St Helier, Jersey,
JE2 3QB
Data Protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018.
Find more information in the
Department for the Economy privacy notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include:
- sending to other interested parties on request
- sending to the Scrutiny Office
- quoting in a published report
- reporting in the media
- publishing on the Government website
- listing on a consultation summary
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
gov.je