AI-assisted research summary: This amendment lets the Minister for External Relations and Financial Services make an Order prescribing anti-money-laundering measures for financial services businesses, and may also do so for certain trustees.
Proceeds of Crime (Amendment N o. 4) (Jersey) Law 2021 A LAW to amend further the Proceeds of Crime (Jersey) Law 1999 . Adopted by the States 30th June 2021 Sanctioned by Order of Her Majesty in Council 29th September 2021 Registered by the Royal Court 1st October 2021 Coming into force 8th October 2021 THE STATES , subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law – 1 Article 37 (procedures to prevent and detect money laundering) of the Proceeds of Crime (Jersey) Law 1999 amended In Article 37 of the Proceeds of Crime (Jersey) Law 1999 – ( a ) for paragraph (1) there is substituted – “( 1 ) The Minister for External Relations and Financial Services, by Order, for the purposes of preventing and detecting money laundering – ( a ) must prescribe measures to be taken (including measures not to be taken) by persons who carry on financial services business; and ( b ) may prescribe measures to be taken (including measures not to be taken) by persons, acting as trustees, who do not fall under sub-paragraph (a)”; ( b ) in paragraph ( 1A ), for “persons who carry on financial services business”, there is substituted “persons subject to the measures mentioned in paragraph (1)(a) or (b)”; ( c ) in paragraph (4) – ( i ) for “person carrying on a financial services business” there is substituted “person subject to the measures mentioned in paragraph (1)(a) or (b)”, ( ii ) for “that business” there is substituted “that person”. 2 Citation and commencement This Law may be cited as the Proceeds of Crime (Amendment No. 4) (Jersey) Law 2021 and comes into force 7 days after it is registered.