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Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 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.

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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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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 17 November 2010 regarding: Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 201-.

Decision Reference:  MD-E-2010-0189 

Decision Summary Title :

Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 201-

Date of Decision Summary:

       November 2010

Decision Summary Author:

Director, Finance Industry Development

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title :

Report for Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 201-

Date of Written Report:

9 November 2010

Written Report Author:

Director, Finance Industry Development

Written Report :

Public or Exempt?

Public

Subject:

Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 201- (“the Draft Order”)

Decision(s):

The Minister made the Financial Services (Trust Company Business) (Exemptions Amendment No. 2) (Jersey) Order 201-.

Reason(s) for Decision:

The Draft Order makes amendments to the Schedule to the Financial Services (Trust Company Business (Exemptions)) (Jersey) Order 2000 (“the 2000 Order”) and to the Schedule to the Financial Services (Trust Company Business (Exemptions No. 4)) (Jersey) Order 2001.  These clarify the position that persons who hold a limited number of directorships are not acting by way of business and are exempted from registration requirements for carrying on trust company business.

Resource Implications:

There are no resource or manpower implications for the States.

Action required:

The Minister to sign, date and seal the draft Order and for it to be returned to the States Greffe.

Signature:

 

 

Position:

 

Minister for Economic Development

Date Signed:

 

Date of Decision (If different from Date Signed):

 

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