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Trusts (Amendment No. 5) (Jersey) Law 201-: Approval of draft for Lodging

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 19 September 2011 regarding:

Decision Reference:  MD-E-2011-0132

 

Decision Summary Title :

Trusts (Amendment No. 5) (Jersey) Law 201-

Date of Decision Summary:

August 2011

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 :

Trusts (Amendment No. 5) (Jersey) Law 201-

Date of Written Report:

August 2011

Written Report Author:

Director, Finance Industry Development

 

Written Report :

Public or Exempt?

 

Public

Subject:  

 

Approval of the draft Trusts (Amendment No. 5) (Jersey) Law 201- (the draft Amendment) for lodging.

 

 

Decision(s):

 

The Minister approved the draft Trusts (Amendment No. 5) (Jersey) Law 201-  and the attached report and, having signed the declaration of compatibility with the European Convention on Human Rights, requested that the report and proposition be lodged au Greffe with a view to securing the earliest possible date for debate.

 

Reason(s) for Decision:

 

The Trusts (Jersey) Law 1984 (the Law) has provided a successful legislative framework for the establishment of public and private trusts for over twenty years. Due to the constantly evolving nature of the finance industry, as well as developing case law, the Law is necessarily subject to amendments to ensure that Jersey remains a leading trusts jurisdiction. 

 

The draft Amendment has been widely consulted on and enhances the current Law to ensure that it remains an appropriate legal framework for the trusts industry in Jersey. The Law Officers Department have stated that the draft Amendment does not raise any Human Rights issues.

 

Resource Implications:

 

There are no cost or manpower implications for the States.

 

Action required:

 

To forward the relevant documentation to the States Greffe for lodging.

 

Signature:

 

Senator AJH Maclean

Position:

 

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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