Proceeds
of Crime (Supervisory Bodies) (Supervised Business – Amendment) (Jersey)
Regulations 2023
Made 7th February 2023
Coming into
force 8th February 2023
1 Amendment of Proceeds of Crime
(Supervisory Bodies) (Jersey) Law 2008
These Regulations amend
the Proceeds of
Crime (Supervisory Bodies) (Jersey) Law 2008.
2 Article 1 (interpretation) amended
In Article 1(1)
(interpretation) –
(a) in
each of the following places, for “Schedule 2 business” there is
substituted “supervised business” –
(i) in the definition “key person”,
(ii) in the definition “money
laundering compliance officer”,
(iii) in the definition “money
laundering reporting officer”,
(iv) in the definition
“principal person”;
(b) after the definition “suitable
supervisory body” there is inserted –
“ “supervised business” means –
(a) Schedule 2 business;
and
(b) business carried on by a
prescribed NPO;”.
3 Article
2 (meaning of “supervisory functions”) amended
In Article 2(a)(v),
for “Schedule 2 business” there is substituted “supervised business”.
4 Article
5 (Commission to be supervisory body for all Schedule 2 business carried
on by any person carrying on a regulated business) amended
In Article 5, in
each of the following places, for “Schedule 2 business” there is
substituted “supervised business” –
(a) in the heading;
(b) in paragraph (2).
5 Article
6 (designation of supervisory bodies) amended
In Article 6(4)(a)(ii),
for “Schedule 2 business” there is substituted “supervised business”.
6 Article
7 (guidance, directions and accountability) amended
In Article 7(1), for
“Schedule 2 business” there is substituted “supervised business”.
7 Article
8A (duty of supervisory body to use a risk-based approach) amended
In Article 8A –
(a) in paragraphs (2),
(2)(a), (2)(b), (2)(c), (2)(d) and (3), for “Schedule 2 business” there is
substituted “supervised business”.
(b) in paragraph (2)(a)
and (b), for “Schedule 2 business’s” there is substituted “supervised
business’s”.
8 Part
5 (supervision of Schedule 2 businesses) heading amended
In Part 5 in the
Part heading, for “Schedule 2 businesses” there is substituted “supervised
businesses”.
9 Article
22 (codes of practice) amended
In Article 22(1)(c), for “Schedule 2
business” there is substituted “supervised business”.
10 Article
23 (power to issue directions) amended
In Article 23 in each of the following places, for “Schedule 2
business” there is substituted “supervised business” –
(a) in paragraph (1),
(1)(c)(i) and 1(c)(ii);
(b) in paragraph (2)(b)
and (c) and in both places it occurs in sub-paragraph (d);
(c) in paragraph (13A)(a).
11 Article
25 (powers of intervention) amended
In Article 25 in each of the following places, for “Schedule 2
business” there is substituted “supervised business” –
(a) in paragraph (1)(a)(i)
and (ii) and (b);
(b) in paragraph (4)(b),
in both places it occurs.
12 Article
26 (public statements) amended
In Article 26, in
sub-paragraph (c) and (c)(i), for “Schedule 2 business” there is
substituted “supervised business”.
13 Article
30 (general power to require information and documents) amended
In Article 30 in each of the following places, for “Schedule 2
business” there is substituted “supervised business” –
(a) in paragraph (14)(a),
(b), (h) and (i) and in both places it occurs in each of sub-paragraphs (c),
(d), (f) and (g);
(b) in paragraph (16).
14 Article
33A (communication with supervisory body by auditors and approved professionals)
amended
In Article 33A in
each of the following places, for “Schedule 2 business” there is
substituted “supervised business” –
(a) in paragraph (1);
(b) in paragraph (2),
(2)(a), (b) and (c);
(c) in paragraph (3)(b),
(c) and (d);
(d) in paragraph (5)(b);
(e) in paragraph (7), in
the definition “auditor”.
15 Article 36 (permitted
disclosures) amended
In Article 36(1)(h),
for “Schedule 2 business” there is substituted “supervised business”.
16 Article
38 (publication of information about Schedule 2 businesses) amended
In Article 38 –
(a) in the heading, for
“Schedule 2 businesses” there is substituted “supervised businesses”;
(b) in paragraph (1)(b),
for “Schedule 2 business” there is substituted “supervised business”.
17 Article
41 (legal proceedings) amended
In Article 41(1)(c)
for “Schedule 2 business” there is substituted “supervised business”.
18 Citation and commencement
These Regulations may be
cited as the Proceeds of Crime (Supervisory Bodies) (Supervised Business –
Amendment) (Jersey) Regulations 2023 and come into force on the day after they
are made.