Proceeds
of Crime (Supervisory Bodies) (Amendment No. 2) (Jersey) Law 2022
Adopted
by the States 19th January 2022
Sanctioned
by Order of Her Majesty in Council 16th March 2022
Registered by the Royal Court 18th March 2022
Coming into force 25th March 2022
THE STATES, subject to the sanction of Her Most
Excellent Majesty in Council, have adopted the following Law –
1 Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 amended
This Law amends the Proceeds of Crime (Supervisory
Bodies) (Jersey) Law 2008.
2 Article 1
(interpretation) amended
In Article 1(1) –
(a) the definition “level of
registration” is deleted;
(b) in the definition
“registered person” there is deleted “or 15”;
(c) in the definition “specified
Schedule 2 business” for “column 3 of” is deleted.
3 Article 4 (meaning
of level of registration) deleted
Article 4 is deleted.
4 Article 11
(application for appropriate level of registration and deemed registration) substituted
For Article 11 there is substituted –
“11 Application
for registration and deemed registration
(1) Subject
to paragraph (4), a person who intends to carry on a specified Schedule 2
business (an “applicant”) must make an application under Article 13 to the
relevant supervisory body to be registered in respect of the specified
Schedule 2 business.
(2) The
States may by Regulations amend the descriptions of specified Schedule 2
business described in column 2 of the Table in the Schedule to this Law.
(3) A
person carrying on a regulated business who intends to carry on a specified
Schedule 2 business is not required to make an application under paragraph (1)
provided that person has previously notified the
Commission that he or she intends to carry on that specified Schedule 2 business.
(4) A
notification under paragraph (3) must be in such form as the Commission
may determine and must include –
(a) the
person’s name;
(b) the
description of the specified Schedule 2 business that the person intends
to carry on;
(c) the
principal address (stating that it is the principal address) and any other
address from which the person intends to carry on that business;
(d) such
other particulars as the Commission may require.
(5) A
notification under paragraph (3) must be accompanied by a fee determined
in accordance with Article 21.
(6) Upon
receiving a notification under paragraph (3) from a person, the Commission
must give that person written notice that the person is deemed to be registered
with or without conditions under Article 17(3), in respect of the
specified Schedule 2 business that is the subject of the notification,
(7) In
this Law such registration under paragraph (6) is referred to as “deemed
registration” and such a person is referred to as a “deemed registered person”.”.
5 Article 12
(determination of relevant supervisory body) amended
In Article 12, in paragraphs (2)(b) and (3) “or 15” is
deleted.
6 Article 13
(application for a level 1 registration) amended
In Article 13, in the Article heading and paragraph (1) “a
level 1” is deleted.
7 Article 14 (grant or
refusal of application for a level 1 registration) amended
In Article 14 –
(a) in the Article heading
and paragraph (1) “a level 1” is deleted;
(b) in paragraphs (3)
or (5) “for a level 1 registration” is deleted.
8 Article 15
(application for a level 2 registration and grant or grounds for refusal) deleted
Article 15 is deleted.
9 Article 16 (notice
of refusal to register) amended
In Article 16(1)
“or 15” is deleted.
10 Article 17
(conditions of registration) amended
In Article 17(3)
“or 15” is deleted.
11 Article 18
(revocation of registration) amended
In Article 18(1) –
(a) “or 15” is deleted;
(b) in sub-paragraph (d) “in the case of a level 1 registration” is deleted;
(c) for sub-paragraph (e)
there is substituted –
“(e) if it comes to the
attention of the supervisory body after granting registration that an
application was not made in accordance with Article 13(1) or that the
applicant failed to comply with Article 13(5);”.
12 Article 19 (procedure on refusal or revocation, or new or varied condition) amended
In Article 19(2)
“or 15” is deleted.
13 Article 21
(determination of fees and late payment) amended
In Article 21 –
(a) in paragraph (1) –
(i) in
sub-paragraph (a) for “11(6)” there is substituted “11(3)”;
(ii) in sub-paragraph (b)
“or Article 15” is deleted;
(b) paragraph (3)(a) is deleted.
14 Article 31 (investigations on behalf
of a supervisory body) amended
In Article 31(1)(b) for “with or who has had a level 1
registration” there is inserted “who is registered or who, prior to the
commencement of the Proceeds of Crime (Supervisory
Bodies) (Amendment No. 2) (Jersey) Law 2022, had a level 1 registration”.
15 Article 33A (communication with
supervisory body by auditors and approved professionals) amended
In Article 33A(3)(a) “a Level 1”
is deleted.
16 Article 34 (supply of information)
amended
In Article 34 –
(a) in paragraph (1)(a)
“or 15” is deleted;
(b) in paragraph (2) for
“Subject to paragraph (12), where a person has a level 1 registration,
that person” there is substituted “A person who is registered”;
(c) in paragraph (3),
for “11(6)” there is substituted “11(3).
17 Article 39 (co-operation with relevant
overseas supervisory authority) amended
In Article 39(1)(a)
“, 15” is deleted.
18 Article 41 (legal proceedings) amended
In Article 41(2)(b)
for “11(6)” there is substituted “11(3)”.
19 Article 43 (transitional provisions)
amended
In Article 43, after
paragraph (3) there is inserted –
“(3A) Despite anything in this Law –
(a) a person who holds a
registration that was a level 2 registration before the commencement of
the Proceeds of Crime (Supervisory Bodies) (Amendment No. 2) (Jersey) Law 2022
continues to be a registered person as if registered under Article 14 and must,
within 6 months after the commencement of that Law, provide the
information required under Article 13(1)(b)(v) to the supervisory body
exercising functions in respect of that person;
(b) Articles 18(1)(d) and
34(2) do not apply in respect of a registration that was a level 2
registration that occurred prior to the commencement of the Proceeds of Crime
(Supervisory Bodies) (Amendment No. 2) (Jersey) Law 2022 until the expiry
of 6 months after the date of commencement of that Law.”.
20 Schedule (level of registration for
specified schedule 2 business) amended
In the Schedule –
(a) for the Article reference
“Article 11(3)” before the Schedule subheading there is substituted
“(Article 1)”;
(b) for the Schedule
subheading there is substituted “SPECIFIED SCHEDULE 2 BUSINESSES”;
(c) column 2 (level of
registration) of the table is deleted.
21 Citation and commencement
This Law may be cited as
the Proceeds of Crime (Supervisory Bodies) (Amendment No. 2) (Jersey) Law
2022 and comes into force 7 days after it is registered.