Jersey Law 26/1995

 

BANKRUPTCY (DESASTRE) (AMENDMENT) (JERSEY) LAW 1995

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A LAW     to amend further the Bankruptcy (Désastre) (Jersey) Law 1990, sanctioned by Order of Her Majesty in Council of the

 

28th day of JUNE 1995

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(Registered on the 18th day of August 1995)

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STATES OF JERSEY

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The 28th day of March 1995

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THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law –

ARTICLE 1

In Article 3 of the Bankruptcy (Désastre) (Jersey) Law 19901 (hereinafter referred to as “the principal Law”) –

(a)     in paragraph (1) –

(i)      the word “or” at the end of sub-paragraph (a) shall be deleted;

(ii)     for the full stop at the end of sub-paragraph (b) there shall be substituted the word “; or”; and

(iii)    after sub-paragraph (b) there shall be inserted the following sub-paragraph –

“(c)   the Finance and Economics Committee, in the case of a person who –

(i)      holds or has held a permit under the Insurance Business (Jersey) Law 19832 or the Collective Investment Funds (Jersey) Law 19883; or

(ii)     is or was registered under the Banking Business (Jersey) Law 19914.”;

(b)     in paragraph (3) for the word “An” there shall be substituted the words “Subject to paragraph (4), an”; and

(c)     after paragraph (3) there shall be inserted the following paragraph –

“(4)      Paragraph (3) shall not apply where an application is made under sub-paragraph (c) of paragraph (1).”.

ARTICLE 2

In Article 6 of the principal Law5 –

(a)     in paragraph (1) for the word “The” there shall be substituted the words “Subject to paragraph (1A), the”; and

(b)     after paragraph (1) there shall be inserted the following paragraph –

“(1A)   Where an application is made under sub-paragraph (c) of paragraph (1) of Article 3 the Court may make a declaration if it considers it just and equitable to do so.”.

ARTICLE 3

In paragraph (4) of Article 7 of the principal Law,6 for the full stop after sub-paragraph (c) there shall be substituted the following words –

“;and

in the case of a declaration made pursuant to paragraph (1A) of Article 6, shall also have regard to the views of the Finance and Economics Committee and of the Viscount.”.

ARTICLE 4

This Law may be cited as the Bankruptcy (Désastre) (Amendment) (Jersey) Law 1995.

 

C.M. NEWCOMBE

 

Deputy Greffier of the States.