Jersey Law 14/1961
BORROWING (CONTROL) (AMENDMENT) (JERSEY) LAW, 1961.
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A LAW to
extend the power to regulate the borrowing and raising of money in cases where
payment is secured by the creation of a simple conventional hypothec,
sanctioned by Order of Her Majesty in Council of the
27th day of APRIL, 1961.
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(Registered on the 13th day of
May, 1961).
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STATES OF JERSEY.
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The 14th day of
February, 1961.
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THE STATES, subject to the sanction of Her
Most Excellent Majesty in Council, have adopted the following Law : -
ARTICLE 1
For sub-paragraph (a) of
paragraph (1) of Article 2 of the Borrowing (Control) (Jersey) Law, 1947, there shall be substituted the following
sub-paragraph –
“(a) the borrowing of money in the
Island where –
(i) the
payment is secured by the creation of a simple conventional hypothec on real
property in the Island ; or
(ii) the
aggregate of the amount of money borrowed under the transaction, and of any
other amounts so borrowed (including amounts borrowed under transactions to
which the foregoing clause refers) by the same person in the previous twelve
months, exceeds ten thousand pounds ;”.
ARTICLE 2
This Law may be cited as the Borrowing (Control) (Amendment)
(Jersey) Law, 1961, and this Law and the Borrowing (Control) (Jersey) Law,
1947, may be cited together as the Borrowing (Control) (Jersey) Laws, 1947 and
1961.
F. DE L. BOIS,
Greffier of the States.