Jersey Law 2/1969
CHILDREN’S BENEFIT FUNDS (JERSEY) LAW, 1969.
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A LAW to
provide for the establishment of funds to be applied for the benefit of
children in the care of the States, for the transfer to those funds of funds
now held in trust in connexion with the Jersey Home for Boys and the Jersey
Female Orphans’ Home respectively, for the payment into the funds so
established of bequests, devises or gifts made, or hereafter to be made, for
the benefit of such children, for the administration and application of the
funds so established, and for matters connected therewith, sanctioned by Order
of Her Majesty in Council of the
10th day of FEBRUARY, 1969.
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(Registered
on the 14th day of March, 1969).
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STATES OF JERSEY.
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The 24th day of
September, 1968.
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THE STATES, subject to the sanction of
Her Most Excellent Majesty in Council, have adopted the following Law: -
ARTICLE 1
INTERPRETATION
(1) In
this Law, unless the context otherwise requires -
“benefit” includes maintenance, education, training,
reward, entertainment and pleasure ;
“Capital Fund” and “Interest Fund” have the
meanings respectively assigned to them by Article 2 of this Law ;
“income” includes rents and profits ;
“the States” includes any administration of the States.
(2) References
in this Law to children in the care of the States exclude references to
children in the care of the States solely for the purpose of their education at
school.
ARTICLE 2
ESTABLISHMENT, ADMINISTRATION AND APPLICATION OF CHILDREN’S
BENEFIT FUNDS
(1) For
the purposes of this Law, there shall be established funds to be known
respectively as the Children’s Benefit (Capital) Fund (hereinafter
referred to as “the Capital Fund”) and the Children’s Benefit
(Interest) Fund (hereinafter referred to as “the Interest Fund”).
(2) There
shall be transferred to the Capital Fund all securities and immovable property
which, at the commencement of this Law, are held in trust by or on behalf of
the States on account of -
(a) the Jersey Home for
Boys, that is to say -
(i) the
Benevolent Fund and the Jubilee Fund mentioned in Article 1 of the “Loi
(1924) au sujet des fonds du ‘Jersey Home for Boys’ ” ;
(ii) the
Renouf Library Grant ;
(iii) the M.
Rolstone Legacy ;
(iv) the Amy
Legacy ;
(b) the Jersey Female
Orphans’ Home, that is to say
-
(i) the
Girls’ Benevolent Fund (Capital) established by Article 4 of the Jersey
Female Orphans’ Home Law, 1961;
(ii) the
S. A. Wimble Legacy;
(iii) the
Charitable Trust Fund;
(c) the Don Le Couteur.
(3) There
shall be transferred to the Interest Fund all monies, including monies on call
or on deposit in any bank, which, at the commencement of this Law, are held in
trust by or on behalf of the States on account of -
(a) the funds, grant and
legacies specified in sub-paragraph (a),
and the legacy and fund mentioned in clauses (ii) and (iii) respectively of
sub-paragraph (b), of paragraph (2)
of this Article;
(b) the Girls’
Benevolent Fund (Income) established by Article 4 of the Jersey Female
Orphans’ Home Law, 1961;2
(c) the Don Le Couteur.
(4) The
Capital Fund and the Interest Fund shall be vested in the Treasurer of the
States as perpetual trustee on behalf of the States, and the Capital Fund shall
be invested by him in accordance with the provisions of paragraph (9) of this
Article:
Provided that where, after the commencement of this Law, there is
added to the Capital Fund in pursuance of paragraph (5) of this Article any
bequest or gift of securities, not being securities such as are mentioned in
the said paragraph (9), or any devise of immovable property, the provisions of
this paragraph shall not have effect so as to require the Treasurer of the
States to sell the securities so bequeathed or given, or the immovable property
so devised, and to re-invest the proceeds of sale in such securities as are so
mentioned.
(5) Where,
after the commencement of this Law, any bequest, devise or gift is made for the
benefit, however expressed, of children in the care of the States, such
bequest, devise or gift shall, unless the testator or donor by whom the
bequest, devise or gift was made expresses a contrary intention, be added to,
and shall form part of, the Capital Fund.
(6) Where
the instrument by which any bequest, devise or gift is, or has been, made
expresses that the bequest, devise or gift is made, either wholly or in part,
for the benefit of persons who were formerly children in the care of the
States, this Article shall have effect, in relation to that bequest, devise or
gift, as if references therein to children in the care of the States included
references to such persons.
(7) Where
the instrument by which any bequest, devise or gift is made for the benefit of
children in the care of the States expresses that the bequest, devise or gift
is made for the purpose of providing a particular benefit for such children, or
for any class or description, or for the benefit generally of a particular
class or description, of such children, and it appears to the Education
Committee at any time that -
(a) it is superfluous, or
is not in the best interests of such children, to provide that particular
benefit; or
(b) it is inexpedient or
undesirable to limit the provision of any benefit to a particular class or
description of such children; or
(c) it is impossible or
unreasonable to provide that particular benefit;
that Committee may apply to the Inferior Number of the Royal Court,
in term or in vacation, for authority to apply such bequest, devise or gift,
either wholly or in part, for the purpose of providing some other particular
benefit for, or generally for the benefit of, children, or any class or
description of children, in the care of the States, and the Court, if it is
satisfied that it is in the best interests of such children so to do, may
authorize the Education Committee to apply the bequest, devise or gift, either
wholly or in part, for the purpose of providing some other particular benefit
for, or generally for the benefit of, such children as aforesaid.
(8) Subject
to the consent of the Finance and Economics Committee, the Treasurer of the
States may -
(a) sell any securities, or
any immovable property, forming part of the Capital Fund and re-invest the
proceeds of such sale;
(b) for the purpose of
making good any depreciation in the value of securities forming part of the
Capital Fund, invest a proportion, not exceeding five per centum, of the net
income of the Interest Fund in the calendar year immediately preceding the
making of such investment;
in accordance with the provisions of paragraph (9) of this Article.
(9) The
Capital Fund shall be invested only in
-
(a) loans issued by the
States;
(b) stock issued by a
public utility undertaking and guaranteed under the Public Utilities
Undertakings (Guarantee on Loans) (Jersey) Law, 1963;
(c) securities issued by
Her Majesty’s Government in the United Kingdom;
(d) securities the payment
of interest on which is guaranteed by Her Majesty’s Government in the
United Kingdom;
(e) fixed interest
securities issued by the government of any of the following countries, that is
to say, Australia, Burma, Canada, Ceylon, Ghana, India, the Republic of
Ireland, Malaysia, New Zealand, Pakistan and the Republic of South Africa;
(f) such securities,
or securities of such class, as the States, on the recommendation of the
Finance and Economics Committee, may approve.
(10) The
Treasurer of the States -
(a) shall pay into the
Interest Fund the whole of the income of the Capital Fund;
(b) may place the whole, or
any part, of the money from time to time standing to the credit of the Interest
Fund on deposit in any bank.
(11) The
cost of administration of the Capital Fund and the Interest Fund shall be a
first charge on the Interest Fund.
(12) Subject
to the provisions of paragraphs(8)(b)
and (11) of this Article, the Interest Fund shall be applied, in accordance
with the directions of the Education Committee, for the benefit of children who
are, or who have at any time been, in the care of the States
ARTICLE 3
ENACTMENTS REPEALED
The “Loi (1924) au sujet des fonds du ‘Jersey Home for
Boys’ ” and Part II of the Jersey Female
Orphans’ Home Law, 1961, are
hereby repealed.
ARTICLE 4
SHORT TITLE
This Law may be cited as the Children’s Benefit Funds
(Jersey) Law, 1969.
A.D. LE BROCQ,
Greffier of the States.