Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

  • Choose the service you want to log in to:

  • gov.je

    Update your notification preferences

  • one.gov.je

    Access government services

  • CAESAR

    Clear goods through customs or claim relief

  • Talentlink

    View or update your States of Jersey job application

Companies (Demerger) (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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 26 February 2018:

MINISTERIAL DECISION REFERENCE:    MD-C-2018- 0040

DECISION SUMMARY TITLE:  Draft Companies (Demerger)(Jersey) Regulations 201-

DECISION SUMMARY AUTHOR:

Lead Policy Adviser, Financial Services Unit

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

 

REPORT TITLE:  Written Report to the Draft Demerger Regulations – Companies (Jersey) Law 1991

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

Lead Policy Adviser, Financial Services and Brexit

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Chief Minister:

 

  • approved the draft Companies (Demerger) (Jersey) Regulations 201- (the “Draft Demerger Regulations”) and the attached report; and
  • directed that the documents be lodged au Greffe for debate by the States at the earliest opportunity.

 

The Companies (Amendment No. 11) (Jersey) Law 2014 introduced an enabling provision into the Companies (Jersey) Law 1991 to allow the States to make regulations to permit the demerger of Jersey companies. The drafting of such regulations was approved by MD-C-2015-0054.

 

As directed by Ministerial Decision MD-C-2017- 0148, a public consultation was carried out in late 2017 / early 2018. Following that consultation, and the amendments that followed from it, the Draft Demerger Regulations have been proposed.

 

The Draft Demerger Regulations permit a Jersey company which is eligible to demerge, to demerge into two or more Jersey companies with assets and liabilities transferred by operation of law.  It is considered that the introduction of these rules will strengthen the corporate law offering already available in Jersey whilst still providing protections for third parties such as creditors, employees and shareholders.

 

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey. 

ACTION REQUIRED:

The Greffier of the States to be requested to arrange for the relevant documentation associated with the decision to be lodged au Greffe for debate by the States at the earliest opportunity.

SIGNATURE:

 

SENATOR IAN GORST

POSITION:

 

CHIEF MINISTER

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

Back to top
rating button