Financial Regulation (Miscellaneous Provisions No. 4) (Jersey) Law 2016

Financial Regulation (Miscellaneous Provisions No. 4) ( Jersey) Law 2016 Arrangement Article 1 Banking Business (Jersey) Law 1991 amended . 3 2 Financial Services (Jersey) Law 1998 amended . 3 3 Insurance Business (Jersey) Law 1996 amended . 4 4 Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 amended . 4 5 Insurance Business (General Provisions) (Jersey) Order 1996 amended . 5 6 Citation and commencement 5 Financial Regulation (Miscellaneous Provisions No. 4) ( Jersey) Law 2016 A LAW to amend powers conferred on the Jersey Financial Services Commission in relation to fees by amending the Banking Business (Jersey) Law 1991; the Collective Investment Funds (Jersey) Law 1988; the Financial Services (Jersey) Law 1998; the Insurance Business (Jersey) Law 1996 and the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008. Adopted by the States 24th May 2016 Sanctioned by Order of Her Majesty in Council 13th July 2016 Registered by the Royal Court 22nd July 2016 THE STATES , subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law – 1 Banking Business (Jersey) Law 1991 amended In the Banking Business (Jersey) Law 1991 [1] – (a) Article 9(2) shall be deleted; (b) after Article 48D there shall be inserted the following Article – “48E Fees The Commission may, in accordance with Article 15 of the Financial Services Commission (Jersey) Law 1998 [2] , publish fees that shall be payable by registered persons at such intervals and upon the occurrence of such events as the Commission may determine.”. 2 Financial Services (Jersey) Law 1998 amended In the Financial Services (Jersey) Law 1998 [3] , for Article 9(6) there shall be substituted the following paragraph – “(6) The Commission may, in accordance with Article 15 of the Financial Services Commission (Jersey) Law 1998 [4] , publish fees that shall be payable by registered persons at such intervals and upon the occurrence of such events as the Commission may determine.”. 3 Insurance Business (Jersey) Law 1996 amended In the Insurance Business (Jersey) Law 1996 [5] – (a) Article 6(2) shall be deleted; (b) after Article 43C there shall be inserted the following Article – “43D Fees The Commission may, in accordance with Article 15 of the Financial Services Commission (Jersey) Law 1998 [6] , publish fees that shall be payable by permit holders at such intervals and upon the occurrence of such events as the Commission may determine.”. 4 Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 amended In the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 [7] – (a) in Article 10(1), for sub-paragraph (b) there shall be substituted the following sub-paragraph – “(b) a person being – (i) a company incorporated in Jersey, or (ii) a person (other than a natural person or company) whose registered office is in Jersey, shall not carry on such business in any part of the world,”; (b) in Article 10(3), for the words “and any company incorporated in Jersey” there shall be substituted the words “and any person mentioned in paragraph (1)(b)”; (c) in the heading to Article 20, for the words “Annual fee” there shall be substituted the word “Fees”; (d) for Article 20(1) and (2) there shall be substituted the following paragraphs – “(1) A supervisory body may charge a fee payable by each person registered by it under this Law at such intervals and upon the occurrence of such events as the Commission may determine. (2) The Commission may charge a fee payable by each deemed registered person and each regulated person at such intervals and upon the occurrence of such events as the Commission may determine.”; (e) in Article 21(1)(c) for the words “an annual fee” there shall be substituted the words “a fee”. 5 Insurance Business (General Provisions) (Jersey) Order 1996 amended Article 3 of the Insurance Business (General Provisions) (Jersey) Order 1996 [8] shall be deleted. 6 Citation and commencement This Law may be cited as the Financial Regulation (Miscellaneous Provisions No. 4) (Jersey) Law 2016 and shall come into force one month after it is registered. l.-m. hart Deputy Greffier of the States [1] chapter 13.075 [2] chapter 13.250 [3] chapter 13.225 [4] chapter 13.250 [5] chapter 13.425 [6] chapter 13.250 [7] chapter 08.785 [8] chapter 13.425.30