|Department||Office of the Chief Executive|
|Type of consultation||Green paper|
|Deadline for comments||04/07/2016|
About the consultation
We would like your views on proposals to amend the legislation that governs the Island’s trusts industry.
This new set of proposed amendments aims to make sure the legislation remains world-leading and continues to place Jersey as the trusts jurisdiction of choice.
The amendments draw on the work of a group of leading industry practitioners, organised through Jersey Finance. They aim to find out where the law may benefit from clarification, and where new provisions may help to develop the Island’s offering to the private wealth management world.
The following areas are available for public consultation:
- the need for a beneficiary at all times during the existence of a trust
- the rights of beneficiaries to information
- reservation of powers by a settlor
- arbitration provisions
- trustees self-contracting
- confirmation of the appointment of a corporate trustee post-merger
- extension of indemnity provisions
- retention and accumulation
- presumption of lifetime effect
- variation of trusts
How to submit comments to the consultation
You can submit your comments by email to:
Lead Policy Adviser
Private Wealth and Financial Crime
Financial Services Unit
Chief Minister's Department
Jersey Finance industry response
Jersey Finance is also organising a joint industry response, if you would like to participate send your response to Thomas Cowsill.
Email Thomas Cowsill
Responses sent to Jersey Finance will be shared with us unless you indicate clearly that you want to remain anonymous.
Responses to the consultation
Below is the response and policy document concerning amendments to the Trusts (Jersey) Law 1984, published on 11 January 2017:
Proposed Amendments to the Trusts (Jersey) Law 1984: Response and Policy Paper (size 760kb)