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EU Legislation (Payment Services - SEPA) (Amendment) (Jersey) Regulations 201-

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 16 October 2017:

MINISTERIAL DECISION REFERENCE:    MD-C-2017- 0131

DECISION SUMMARY TITLE:  Draft EU Legislation (Payment Services – SEPA) (Amendment) (Jersey) Regulations 201- (the “Draft SEPA Amendment Regulations”)

DECISION SUMMARY AUTHOR:

Lead Policy Adviser, Financial Services Unit

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

 

REPORT TITLE:  Written Report to the Draft EU Legislation (Payment Services – SEPA) (Amendment) (Jersey) Regulations 201-

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Lead Policy Adviser, Financial Services Unit

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Chief Minister:

 

  • approved the Draft SEPA Amendment Regulations and the attached report; and
  • directed that the documents be lodged au Greffe for debate by the States at the earliest opportunity.

 

The European Union Legislation (Payment Services) (Jersey) Regulations 2015 (the “SEPA Regulations”) introduced a legislative framework in order for banks in Jersey to be able to participate in the Single European Payment Services Area (the “SEPA”). The Draft SEPA Amendment Regulations will update the SEPA Regulations as a consequence of changes to the associated EU legislation brought about by EU Directive 2015/2366, known as Payment Services Directive 2.

 

The key changes are: the bringing into scope of transactions in which one of the payment service providers is outside the SEPA; and enhancing consumer protections.

 

To ensure that there is no jeopardy to Jersey’s continuing membership of the SEPA - and, therefore, Jersey banks’ access to SEPA payment systems - the SEPA Regulations need to be updated to reflect, to the extent relevant to the Island’s membership of the SEPA, the changes made to the relevant EU Directives.  The relevant EU legislation comes into force on 13 January 2018 – and to ensure Jersey’s continued membership of SEPA, the Government would intend for these Regulations to have been debated by the States and have the opportunity to be in force before that date.

 

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey. 

ACTION REQUIRED:

The Financial Services Unit to request the Greffier of the States to arrange for the projet (draft Regulations and report) to be lodged ‘au Greffe’, to be taken into consideration by the States as soon as possible. 

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

CHIEF MINISTER

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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