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Draft Limited Partnerships (Amendment No. 2) (Jersey) Law 202-

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 9 March 2022

Decision Reference:  MD-ER-2022-164

Public

Subject: Draft Limited Partnership (Amendment No.2) (Jersey) Law 202- decision to lodge "au Greffe"

 

Report Title: Draft Limited Partnership (Amendment No.2) (Jersey) Law 202-

Public

Decision(s):

The Minister decided to request that the Draft Limited Partnerships (Amendment No. 2) (Jersey) Law 202- be lodged "au Greffe" for debate on 26th April 2022.

Reason for Decision(s):

A business case to update the Limited Partnerships (Jersey) Law 1994 was submitted by the Funds Industry in 2018 and again, in revised form, in late 2020. The business case requested changes to the Law to reflect enhancements in other jurisdictions and to resolve ambiguities which have been identified in the Law, particularly around the process for terminating a limited partnership.

Resource Implications: None as a consequence of this draft amendment law

 

Action Required: The Greffier is requested to arrange for the Draft Limited Partnership (Amendment No.2) (Jersey) Law 202- to be lodged "au Greffe" for debate by the States at the earliest opportunity.

Signature:

 

 

 

Signed By: Minister for External Relations and Financial Services

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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