Proceeds
of Crime (Amendment No. 4) (Jersey)
Law 2021
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.