Collective
Investment Funds (Unregulated Funds) (Amendment No. 3)
(Jersey) Order 2018
Made 25th January 2018
Coming into force 1st
February 2018
THE CHIEF MINISTER, in pursuance of Articles 3 and 20 of the Collective
Investment Funds (Jersey) Law 1988[1] and on the recommendation of the
Jersey Financial Services Commission, orders as follows –
1 Interpretation
In this Order “principal Order”
means the Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008[2].
2 Schedule 1
amended
In Schedule 1 to the principal Order, in paragraph 5 –
(a) for
sub-paragraph (2)(a) there shall be substituted the following clause –
“(a) no market makers have been
appointed by a fund company or by another person on behalf of the fund, except,
subject to clauses (b), (c), (d) and (e), where the fund company is a United
Kingdom real estate investment trust and units in the fund company are listed –
(i) on
one or more of the exchanges or markets listed in Schedule 4, or
(ii) in
the case of a United Kingdom real estate investment trust, on a recognized stock
exchange (within the meaning given by section 1005(1) of the Income
Tax Act 2007 (c. 3) of the United Kingdom);”;
(b) in
sub-paragraph (3) –
(i) at
the end of the definition “securities market” for the full stop
there shall be substituted a semi-colon,
(ii) after
the definition “securities market” there shall be added the
following definition –
“ ‘United
Kingdom real estate investment trust’ means a fund company that has
provided a notice under section 523 or 524 of the Corporation Tax Act 2010
(c. 4) of the United Kingdom.”.
3 Schedule 2
amended
In Schedule 2 to the principal Order, in paragraph 3(1),
after the word “registrar” there shall be added the words
“before 1st April 2018”.
4 Schedule 4
amended
In Schedule 4 to the principal Order –
(a) in
the sub-heading for the words “(Paragraph 4(1) of Schedule 2)”
there shall be substituted the words “(Paragraph 5(2)(a)(i) of Schedule 1
and Paragraph 4(1) of Schedule 2)”;
(b) in the
list of exchanges and markets for the item “Channel Islands: Channel
Islands Stock Exchange” there shall be substituted the following item –
“Channel Islands: The International
Stock Exchange”.
5 Citation and commencement
This Order may be cited as the Collective Investment Funds (Unregulated
Funds) (Amendment No. 3) (Jersey) Order 2018 and shall come into
force 7 days after it is made.
senator i.j. gorst
Chief Minister