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Draft Companies (Amendment No. 9) (Jersey) Law 200- and the Draft Companies (Amendment No.2) (Jersey) Regulations 200-

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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  • 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

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A decision made to approve the Draft Companies (Amendment No. 9) (Jersey) Law 200- and the Draft Companies (Amendment No. 2) (Jersey) Regulations 200-

Decision Reference  MD-E-2007-0213 

Decision Summary Title :

Amendments to the Companies (Jersey) Law 1991 (“the Law”)

 

Date of Decision Summary:

15 November 2007

Decision Summary Author:

 

James Mews

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Amendments to the Companies (Jersey) Law 1991 (“the Law”)

 

Date of Written Report:

15 November 2007

Written Report Author:

James Mews                

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:  

 

Approval of the Companies  (Amendment No 9) (Jersey) law 200- (“the Amendment”) and Companies  (Amendment No 2) (Jersey) Regulations 200- (“the Regulations”).

 

Decision(s):

 

The Minister has approved the Amendment and the Regulations, signed the declaration of compatibility with the European Convention on Human Rights  and for the Financial Industry Development Executive to take such steps as are necessary to lodge them au Greffe by 20 November 2007 for the States to debate at the first sitting in 2008 or first available sitting thereafter.  

 

Reason(s) for Decision:

 

The Amendment and Regulations modernise aspects of the Law in accordance with international developments to introduce more flexibility and simplicity into the Law.

 

The proposals have been through the normal consultation process including comprehensive discussion by a steering group, industry and the Commission neither of whom object to their adoption.

 

The Law Officers Department have indicated that the Amendments do not raise any Human Rights issues and that all tariffs for new offences created are commensurate with similar existing offences. 

 

 

Resource Implications:

 

No measurable cost or manpower implications arise for the Commission, the States or industry.

 

Action required:

 

The Finance Industry Development Executive take such steps as are necessary to lodge the Amendment and Regulations au Greffe by 20 November 2007 for the States to debate at the first sitting in 2008 or first available sitting thereafter.  

 

Signature:  Senator P.F.C.Ozouf

 

 

 

Position:  Minister

 

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

 

 

 

 

 

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