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Banking Business (Depositors Compensation) (Jersey) Regulations 2009: Amendment: Law drafting instructions

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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A decision made 21 June 2019:

MINISTERIAL DECISION REFERENCE  

MD-ER-2019-0038

DECISION SUMMARY TITLE   Update to Banking Business (Depositors Compensation) (Jersey) Regulations 2009

DECISION SUMMARY AUTHOR

Lead Policy Advisor, Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT? 

Public

REPORT TITLE   Drafting Instructions: Banking Business (Depositors Compensation) (Jersey) Regulations 2009

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT

Lead Policy Advisor, Financial Services

IS THE REPORT PUBLIC OR EXEMPT?

Public

DECISION AND REASON FOR THE DECISION

The Minister for External Relations approved the submission of law drafting instructions for amendments to the Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (“the Compensation Regulations”).

These changes incorporate offences into the Compensation Regulations which were originally introduced through Triennial Regulations. They also grant the Depositors Compensation Scheme Board greater information gathering powers.

RESOURCE IMPLICATIONS

The decision will require allocation of policy and legislative drafting officer’s time to updating the Compensation Regulations.

ACTION REQUIRED

The Lead Policy Advisor, Financial Services to advise Legislative Drafting Office of the decision.

 

 

 

 

SIGNATURE

 

SENATOR IAN GORST

MINISTER FOR EXTERNAL RELATIONS

 

POSITION

 

 

EFFECTIVE IMMEDIATELY

DATE SIGNED

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