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Foundations (Additional Annual Charge) (Jersey) Regulations 200-

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

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A decision made 7 December 2009 regarding: Foundations (Additional Annual Charge) (Jersey) Regulations 200-.

Decision Reference:   MD-E-2009-0218 

Decision Summary Title :

Foundations (Additional Annual Charge) (Jersey) Regulations 200-

Date of Decision Summary:

03 December 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title :

Foundations (Additional Annual Charge) (Jersey) Regulations 200-

Date of Written Report:

03 December 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:    

Approval of the draft Foundations (Additional Annual Charge) (Jersey) Regulations 200-   (“the draft Regulations”) for lodging.

Decision(s):  

The Minister approved the draft Regulations and requested that they be lodged au Greffe with a view to securing a debate in the States on 19th January 2010.

Reason(s) for Decision: 

The Foundations (Jersey) Law 2009 provides for foundations registered in Jersey to pay an annual charge to the States in addition to the published annual administration fee that is paid to the registrar.   The draft Regulations provide that the additional annual charge will be £115, which is the same amount as the additional annual charge paid by Jersey-registered companies.

Resource Implications: 

There would be an additional annual income for the States of £115 for each registered foundation.  There are no manpower implications for the States as the additional annual charge will be collected by the registrar and remitted to the treasurer of the States.

Action required: 

The draft Regulations to be lodged au Greffe so as to allow for a debate on 19 January 2010.

Signature:  Senator A.J.H.Maclean  
 

Position:  Minister for Economic Development

Date Signed: 

Date of Decision (If different from Date Signed): 

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