Proceeds
of Crime (Consequential and Miscellaneous) (Jersey) Regulations 2023
Made 18th January 2023
Coming into
force in accordance with Regulation 10
1 Financial Services
(Disclosure and Provision of Information) (Jersey) Law 2020 amended
In the Financial
Services (Disclosure and Provision of Information) (Jersey) Law 2020, in Article 6(1) (appointment of nominated person) –
(a) in sub-paragraph (c),
for “paragraph 1 of Part B” there is substituted “paragraph 21”;
(b) in sub-paragraph (d),
for “paragraph 2 of Part B” there is substituted “paragraph 22”.
2 Forfeiture of Assets (Civil
Proceedings) (Jersey) Law 2018 amended
In the Forfeiture of Assets
(Civil Proceedings) (Jersey) Law 2018
in Article 32(3)(c) (offence of tipping off or interference with documents
etc.), for “paragraph 2(1) of Part B” there is substituted “paragraph 22(3)”.
3 Misuse of Drugs (Jersey)
Law 1978 amended
In the Misuse of Drugs
(Jersey) Law 1978 in Article 19B(3)(c)
(tipping off), for “paragraph 2(1) of Part B” there is substituted
“paragraph 22(3)”.
4 Money Laundering (Jersey)
Order 2008 amended
(1) This
Regulation amends the Money
Laundering (Jersey) Order 2008.
(2) In
Article 4(2)(c) (meaning of “one-off transaction”) for the definition
“virtual currency exchange business” there is substituted –
“ “virtual currency exchange business” means the business of
conducting one or more of the activities or operations to, for or on behalf of
another natural or legal person or arrangement set out in paragraph 24(2)(a),
(b) and (c) of Schedule 2 to the Proceeds of
Crime (Jersey) Law 1999;”.
(3) In
Article 7(1) (compliance officer), for “A relevant person” there is
substituted “Subject to Article 9A, a relevant person”.
(4) In
Article 8(1) (reporting officer), for “A relevant person” there is
substituted “Subject to Article 9A, a relevant person”.
(5) After
Article 9 (designated persons) there is inserted –
“9A Appointment
of anti-money laundering services provider to fulfil obligations of relevant
person
(1) Despite
anything in this Order or the Proceeds of
Crime (Jersey) Law 1999, a relevant person may, if it meets the
criteria set out in the public notice issued under paragraph (4)(a), appoint
an anti-money laundering services provider for the purpose of fulfilling the
obligations of the relevant person –
(a) to appoint a compliance
officer under Article 7 and a reporting officer under Article 8; and
(b) to comply with any other
requirement of the relevant person under this Order.
(2) An
anti-money laundering services provider appointed under paragraph (1) must –
(a) fulfil the obligations of
the relevant person to appoint a compliance officer under Article 7 and a
reporting officer under Article 8;
(b) subject to paragraph (3),
appoint an individual who is an employee of the anti-money laundering services
provider as the compliance officer or reporting officer under sub-paragraph (a);
and
(c) fulfil the obligations of
the relevant person to comply with the requirements of the relevant person
under this Order in respect of which the anti-money laundering services
provider is appointed under paragraph (1)(b).
(3) An
anti-money laundering services provider appointed under paragraph (1) must
not appoint an individual as a reporting officer or compliance officer under
this Article unless –
(a) the Commission has, on the application of the anti-money laundering services
provider, issued a notice of no objection in respect of that individual; or
(b) the individual falls
within a category or description of individuals that are approved by the
Commission to be appointed as a reporting officer or compliance officer in
respect of the category or description of relevant person for which the
appointment is made.
(4) The
Commission must, by giving public notice, establish any of the following –
(a) the criteria that must be
met before a relevant person may appoint an anti-money laundering services
provider under paragraph (1);
(b) the characteristics that
a person must have in order to be eligible to be appointed as an anti-money
laundering services provider under paragraph (1);
(c) the matters to be
considered by the Commission prior to it issuing a notice of no objection under
paragraph (3)(a).
(5) The
Commission may issue guidance as to its procedure and approach for –
(a) issuing a notice of no
objection under paragraph (3)(a); or
(b) approving a category or
description of individuals under paragraph (3)(b).
(6) Where
an anti-money laundering services provider is appointed to fulfil the
obligations of a relevant person under this Article, both the relevant person
and the anti-money laundering services provider are responsible for fulfilling
the obligations.
(7) Paragraph (6)
does not limit any power of the Commission under Article 22 of the Proceeds of
Crime (Supervisory Bodies) (Jersey) Law 2008 to issue a Code of
Practice to set out –
(a) practical steps required
of the relevant person and the anti-money laundering services provider appointed
under paragraph (1); and
(b) the degree of oversight
and management to be expected of a relevant person in respect of an anti-money
laundering services provider.
(8) The
Commission may require an anti-money laundering services provider appointed
under paragraph (1) to revoke the appointment of a reporting officer or
compliance officer in respect of any or all the obligations of the relevant
person.
(9) The
anti-money laundering services provider must comply with the requirement under
paragraph (8).”.
(6) In
Article 10A(9) (financial services business
carried out outside Jersey) for “paragraphs 1 to 5 of Part B of Schedule 2
of the Law” there is substituted “paragraphs 18 to 22 of Schedule 2
to the Law”.
(7) In
Article 11 (policies, procedures and training to
prevent and detect money laundering) –
(a) in paragraph (6),
for “paragraphs 1 to 5 of Part B” there is substituted “paragraphs 18
to 22”;
(b) in paragraph (6A), for
“paragraph 5 of Part B” there is substituted “paragraph 18”.
(8) In
Article 13(10)(d) (application and timing of customer due diligence
measures), for “paragraph 7(1)(h) of Part B” there is substituted “paragraph 9”.
(9) In
Article 14 (termination where customer due diligence measures are not
completed) –
(a) in
paragraph (9), for “paragraph 1 or 2 of Part B”
there is substituted “paragraph 21 or 22”;
(b) in paragraph (10)(a),
for “paragraph 1 or 2 of Part B” there is substituted “paragraph 21
or 22”.
(10) In
Article 17C(1) (exemption from applying third
party identification requirements in relation to certain relevant customers
involved in unregulated or non-public funds, trust company business or legal
profession) –
(a) in sub-paragraph (b)
for “paragraph 7(1)(h) of Part B” there is substituted “paragraph 9”;
(b) in sub-paragraph (c)(ii)
for “paragraph 1 of Part B” there is substituted “paragraph 21”;
(c) in sub-paragraph (c)(iii)
for “paragraph 2 of Part B” there is substituted “paragraph 22”;
(d) in sub-paragraph (d)
for “paragraph 1 of Part B” there is substituted “paragraph 21”.
(11) In
Article 18(6)(a) (further exemptions from applying identification
requirements) for “paragraph 1 or 3 of Part B” there is substituted
“paragraph 19 or 21”.
(12) In
Article 24A (application to certain business) for “paragraph 1 or
paragraph 2(1)(b) of Part B” there is substituted “paragraph 21 or
22(3)(b)”.
5 Proceeds of Crime (Jersey)
Law 1999 amended
(1) This
Regulation amends the Proceeds of
Crime (Jersey) Law 1999.
(2) In
Article 1(1) (interpretation) –
(a) before the definition “beneficiary”
there is inserted –
“ “anti-money
laundering services provider” means a person appointed as such under an Order
made under Article 37;”;
(b) the definition “virtual
currency” is deleted.
(3) In
Article 35(6)(c) (tipping off and interference with material), for
“paragraph 2(1) of Part B” there is substituted “paragraph 22(3)”.
(4) In
Article 36 (financial services business) –
(a) in paragraph (1),
for “Schedule 2 has effect to specify” there is substituted “Parts 1,
2, 3 and 4 of Schedule 2 specify”;
(b) after paragraph (1)
there is inserted –
“(1A) Part 5
of Schedule 2 specifies activities and operations which, in addition to
those referred to in paragraph (1), constitute financial services
business.”;
(c) in paragraph (2),
after “interpretation of” there is inserted “the expression “when conducted as
a business” in paragraph (1) or”.
(5) In
Article 37 (procedures to prevent and detect money laundering) –
(a) after paragraph (1)(b)
there is inserted –
“(c) may prescribe measures to
be taken (including measures not to be taken) by persons or categories of
persons appointed for the purpose of fulfilling the obligations prescribed in
respect of the persons referred to under sub-paragraph (a).”;
(b) after paragraph (10)
there is inserted –
“(10A) Where
an anti-money laundering service provider is appointed, in considering a
defence under paragraph 10 in respect of a financial services business,
the court must have regard to the reasonableness of –
(a) the appointment of the anti-money
laundering services provider in respect of the financial services business, including
the terms and conditions of the appointment; and
(b) the oversight of the anti-money
laundering services provider by the relevant person.”.
(6) In
Schedule 2 in paragraph 22(3) –
(a) the fourth paragraph is
renumbered as paragraph (4);
(b) in paragraph (4), in the definition
“insolvency services” after clause (c) there is inserted –
(7) In
the Proceeds of
Crime (Jersey) Law 1999, for “supervised business” wherever it
occurs there is substituted “Schedule 2 business”.
6 Proceeds of Crime
(Supervisory Bodies) (Jersey) Law 2008 amended
(1) This
Regulation amends the Proceeds of Crime (Supervisory Bodies)
(Jersey) Law 2008.
(2) In
Article 1(1) (interpretation) –
(a) after the definition “anti-money
laundering and counter terrorism legislation” there is inserted –
(b) in the definition “prescribed
person”, for “specified Schedule 2 business” there is substituted
“Schedule 2 business”;
(c) for the definition
“regulated person” there is substituted –
“ “regulated
person” means a person who carries on a regulated business;”;
(d) in the definition
“Schedule 2 business”, for “except those things described in Part A
of that Schedule as an exclusion or exception from a business” there is
substituted “except a business described in Part 5 of that Schedule”;
(e) the definition “specified
Schedule 2 business” is deleted;
(f) the definition
“supervised business” is deleted.
(3) In
Article 6(1) and (4)(a)(ii) (designation of supervisory bodies), for
“specified Schedule 2 business” there is substituted “Schedule 2
business”.
(4) In
Article 10 (prohibition of carrying on unauthorized specified Schedule 2
business) –
(a) in the Article heading, for
“specified Schedule 2 business” there is substituted “Schedule 2
business”;
(b) in paragraph (1),
for “specified Schedule 2 business” wherever it occurs there is
substituted “Schedule 2 business”;
(c) in paragraph (3),
for “specified Schedule 2 business” wherever it occurs there is
substituted “Schedule 2 business”.
(5) In
Article 11 (application for registration and deemed registration) –
(a) in paragraph (1), for
“specified Schedule 2 business” wherever it occurs there is substituted
“Schedule 2 business”;
(b) paragraph (2) is deleted;
(c) in paragraph (3), for
“specified Schedule 2 business” wherever it occurs there is substituted
“Schedule 2 business”;
(d) in paragraph (4),
for “specified Schedule 2 business” there is substituted “Schedule 2
business”;
(e) in paragraph (6),
for “specified Schedule 2 business” there is substituted “Schedule 2
business”.
(6) In
Article 12 (determination of relevant supervisory body) –
(a) in paragraph (1), for
“specified Schedule 2 business” there is substituted “Schedule 2
business”;
(b) in paragraph (2) –
(i) for “specified Schedule 2 business
falling within a different description in the Schedule from the specified
Schedule 2 business that the registered person carries on” there is
substituted “an additional Schedule 2 business”;
(ii) for “specified Schedule 2
business” wherever it occurs in sub-paragraphs (a) and (b) there is
substituted “Schedule 2 business”;
(c) in paragraph (3),
for “specified Schedule 2 business” wherever it occurs there is
substituted “Schedule 2 business”;
(d) in paragraph (4), for
“specified Schedule 2 business” there is substituted “Schedule 2
business”;
(e) in paragraph (8),
for “specified Schedule 2 business” there is substituted “Schedule 2
business”.
(7) In
Article 17(1) (conditions of registration), for “specified Schedule 2
business” there is substituted “Schedule 2 business”.
(8) In
Article 18(1)(b) and (c) (revocation of registration), for “specified
Schedule 2 business” there is substituted “Schedule 2 business”.
(9) In
Article 19(3) (procedure on refusal or revocation, or new or varied
condition), for “specified Schedule 2 business” there is substituted
“Schedule 2 business”.
(10) In
Part 5 after the Part Sub-heading there is inserted –
“21A Application
of Part 5 to anti-money laundering services provider
Despite anything in this Law, this Part, except Article 34, applies
to an anti-money laundering services provider as if when carrying on their
functions as an anti-money laundering services provider they were a supervised
person carrying on a Schedule 2 business.”.
(11) In
Article 22(1)(a), after “supervisory functions” there is inserted “, including
an anti-money laundering services provider”.
(12) In
Article 34 (supply of information) –
(a) in paragraph (1)(b),
for “specified Schedule 2 business” there is substituted “Schedule 2
business”;
(b) in paragraph (2) for
“A person” there is substituted “Subject to paragraph (2A), a person”;
(c) after paragraph (2)
there is inserted –
“(2A) Paragraph (2)
does not apply in respect of a key person who is appointed by an anti-money
laundering services provider.”.
(13) In
Article 43 (transitional provisions) –
(a) in paragraph (1), for
“specified Schedule 2 business” wherever it occurs there is substituted
“Schedule 2 business”;
(b) after paragraph (4) there
is inserted –
“(5) Despite
anything in this Law, the Minister may by Order make such transitional provisions
as the Minister thinks fit in connection with the coming into force of the Proceeds
of Crime (Consequential and Miscellaneous) (Jersey) Regulations 2023.”.
(14) The
Schedule is deleted.
(15) In
the Proceeds of
Crime (Supervisory Bodies) (Jersey) Law 2008, for “supervised
business” wherever it occurs there is substituted “Schedule 2 business”.
7 Proceeds of Crime (Supervisory
Bodies) (Designation of Supervisory Bodies) (Jersey) Order 2008 amended
In the Proceeds of
Crime (Supervisory Bodies) (Designation of Supervisory Bodies) (Jersey) Order 2008 in Article 2(2) and (3)(a) (designation of the Commission as
supervisory body in respect of prescribed persons and businesses), for
“specified Schedule 2 business” there is substituted “Schedule 2
business”.
8 Proceeds of Crime
(Supervisory Bodies) (Virtual Currency Exchange Business) (Exemption) (Jersey)
Order 2016 repealed
The Proceeds of
Crime (Supervisory Bodies) (Virtual Currency Exchange Business) (Exemption) (Jersey)
Order 2016 is repealed.
9 Terrorism (Jersey) Law 2002 amended
In the Terrorism (Jersey) Law 2002 –
(a) in Article 35(6)(c)
(tipping off and interference with material), for “paragraph 2(1) of Part B”
there is substituted “paragraph 22(3)”;
(b) for “supervised business”
wherever it occurs there is substituted “Schedule 2 business”.
10 Citation and commencement
These Regulations may be
cited as the Proceeds of Crime (Consequential and Miscellaneous) (Jersey)
Regulations 2023 and come into force immediately after the commencement of the Proceeds of
Crime (Amendment No. 6) (Jersey) Law 2022.