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European Union (United Kingdom Exit - Financial Services) (Jersey) Order 2019

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.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

a decision made 24 October 2019

MINISTERIAL DECISION REFERENCE

MD-ER-2019- 0055

DECISION SUMMARY TITLE

Order making amendments to certain financial services Orders, so that the treatment of the United Kingdom will not change on its ceasing to be a member state of the European Union (EU).

DECISION SUMMARY AUTHOR

Director of Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE

Order making amendments to certain financial services Orders, so that the treatment of the United Kingdom will not change on its ceasing to be a member state of the EU.

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT

Director of Financial Services

IS THE REPORT PUBLIC OR EXEMPT?

Public

DECISION AND REASON FOR THE DECISION

The Minister for External Relations made the European Union (United Kingdom Exit – Financial Services) (Jersey) Order 2019.

The European Union (United Kingdom Exit – Financial Services) (Jersey) Order 2019 (the “Order”) ensures that certain financial services Orders remain operative following the UK’s ceasing to be a member state of the EU by ensuring these Orders refer to the UK and its institutions directly, in addition to reference to their EU equivalents. This decision follows consultation with, and is on the recommendation of, the Jersey Financial Services Commission. The corresponding Report provides further details.

RESOURCE IMPLICATIONS

There are no resource implications for the States of Jersey.

ACTION REQUIRED

The European Union (United Kingdom Exit – Alternative Investment Funds) (Jersey) Order 2019 will be brought into force by a compendium No Deal commencement Order in the event of a No Deal Brexit.

The Director of Financial Services will ask the Greffier to notify the making of the Order to the States Assembly.

SIGNATURE

 

 

SENATOR IAN GORST

POSITION

 

 

MINISTER FOR EXTERNAL RELATIONS

DATE SIGNED

EFFECTIVE IMMEDIATELY

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