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Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 - Licences

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 20 April 2012:

Decision Reference:  MD-C-2012-0046

 

Decision Summary Title :

Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 - Licences

Date of Decision Summary:

20th April 2012

 

 

Decision Summary Author:

 

International Relations

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 – Licences

Date of Written Report:

20th April 2012

Written Report Author:

International Relations

Written Report :

Public or Exempt?

Public

Subject:  Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 – Licences

Decision(s):  The Minister in pursuance of Article 9 of the Money Laundering and Weapons Development (Directions) (Jersey) Law 2012 decided –

(a)   to grant licences to exempt certain transactions and business relationships that are subject to the provisions of the Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 and

(b)   to revoke the licences granted on 19 January 2012.

Reason(s) for Decision:  The Money Laundering and Weapons Development (Directions) (Iran) (Jersey) Order 2012 protects the financial services sector in Jersey from the risk of unwittingly being used to facilitate money laundering activities and financing of terrorism, and signals to Iran and the international community that Jersey considers this risk to be significant. In effect, the Order prohibits financial institutions in Jersey from taking part in any transaction or business relationship with an Iranian financial institution, subject to certain exceptions as set out in licences.

The Chief Minister has, on 19 January 2012, approved certain licences under Article 9 of the Law.  Those licences previously issued included references to the “EU Regulation” defined as Council Regulation (EU) No. 961/2010 on restrictive measures against Iran.  That EU Regulation has now been revoked, and in its place Council Regulation (EU) 267/2012 has been given effect in Jersey by the Community Provisions (Restrictive Measures) (Iran) (Jersey) Order 2012. 

Accordingly, it is necessary to update the references in the licences to the current legislation.

These amended licences exempt transactions with designated persons for certain purposes and in certain circumstances:

  • Humanitarian activities, medicine, foodstuffs and healthcare;
  • Personal remittances under € 40,000 which are not in the course of business;
  • Provision of insurance to Iranian persons, entities or bodies which is exempt under Council Regulation (EU) No.267/2012;
  • Holding of asset-frozen Iranian banks’ accounts; activities which would otherwise be exempt under Article 29 of Regulation (EU) No.267/2012 (asset freezing exemptions); and activities of a relevant person which are currently licensed under the asset-freezing regime;
  • Relevant persons holding accounts in the name of designated persons.

Resource Implications:  There are no resource implications arising from this decision.

Action required:  The Chief Minister is requested to approve and grant the licences as attached and to revoke the previous licences.

The Chief Minister’s Department should –

(a)   forward a copy of this decision to the States Greffe and request that the new licences are published with the Ministerial Decision; and

(b)   take other steps as appropriate to bring notice of the licences to the attention of relevant persons.

Signature:

 

Position: 

 

Senator I.J. Gorst, Chief Minister

Date Signed:

 

Date of Decision (If different from Date Signed):

 

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