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Issuing of consultation paper on proposed amendments to the Trusts (Jersey) Law 1984

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A decision made (21.07.2008) to issue a consultation paper on proposed amendments to the Trusts (Jersey) Law 1984.

Decision Reference: MD-E-2008-0144 

Decision Summary Title :

Trusts consultation paper

 

Date of Decision Summary:

21 July 2008

Decision Summary Author:

 

James Mews

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:

 

Written Report

Title :

Trusts consultation paper

Date of Written Report:

21 July 2008

Written Report Author:

James Mews

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:  

 

The issuing of a consultation paper on proposed amendments to the Trusts (Jersey) Law 1984 (“the Trusts Law”).

 

Decision(s):

 

The Minister approved the consultation paper and determined that it should be issued as a green paper by the Economic Development Department.

 

Reason(s) for Decision:

The Trusts Law is one of the key pieces of legislation for Jersey’s finance industry.  In order for our trusts sector to remain internationally competitive, it is important that the law remains up-to-date and reflects developments in trusts practice worldwide.  Various suggestions for reform have been received from industry.  In accordance with States policy and to ensure all relevant factors are taken into account in any amendment, it is considered important that a consultation exercise is carried out.

 

Resource Implications:

 

No measurable cost or manpower implications arise for the Commission, the States or industry.

 

Action required:

 

The Minister to approve the consultation paper and the Finance Industry Executive to take such steps as are necessary for it to be issued forthwith.

 

Signature:

 

 

Position:

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

 

 

 

 

 

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