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Regulations to amend the Proceeds of Crime Legislation

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 (05/10/2009) regarding: Regulations to amend the Proceeds of Crime Legislation.

Decision Reference:  MD-E-2009-0181

Decision Summary Title:

Regulations to amend the Proceeds of Crime legislation

Date of Decision Summary:

2 October 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title:

Regulations to amend the Proceeds of Crime legislation

       

Date of Written Report:

2 October 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

Public

Subject:

Regulations to amend the Proceeds of Crime legislation.

                 

Decision(s):

The Minister approved the lodging of the following draft Regulations for amending the Proceeds of Crime legislation: 

  • The draft Proceeds of Crime (Amendment of Schedule 2) (No. 2) (Jersey) Regulations 200-

 

  • The draft Proceeds of Crime (Supervisory Bodies) (Amendment of Law) (No. 2) (Jersey) Regulations 200-

Reason(s) for Decision:

The draft Proceeds of Crime (Amendment of Schedule 2) (No. 2) (Jersey) Regulations 200- will remove certain activities from the scope of the Money Laundering (Jersey) Order 2008 that are considered to be low-risk from a money laundering/terrorist financing perspective. 

The draft Proceeds of Crime (Supervisory Bodies) (Amendment of Law) (No. 2) (Jersey) Regulations 200- will make permanent an existing exemption that prevents duplication of a requirement on persons who carry on a ‘regulated businesses’ to give notification to the Jersey Financial Services Commission.

Resource Implications:

There are no financial or manpower implications for the States.

Action required:

The draft Regulations to be lodged au Greffe for debate on 17 November 2009.

Signature:  Senator A.J.H.Maclean 

Position: Minister for Economic Development

Date Signed:                 
 

Date of Decision:                  

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