Banking Business
(Amendment of Law) (Jersey) Regulations 2019
Made 21st May 2019
Coming into force 28th
May 2019
THE STATES, in pursuance of Article 45A and 51 of the Banking Business
(Jersey) Law 1991[1], have made the following
Regulations –
1 Interpretation
In these Regulations “Law” means the Banking Business
(Jersey) Law 1991[2].
2 Article 1
(interpretation) amended
In Article 1 of the Law after the definition “deposit-taking
business” there is inserted –
“ “Directive 2013/36/EU” means
Directive 2013/36/EU of the
European Parliament and of the Council of 26 June 2013 on access to
the activity of credit institutions and the prudential supervision of credit
institutions and investment firms, amending Directive 2002/87/EC and repealing
Directives 2006/48/EC and 2006/49/EC;”.
3 Article 43
(disclosure for facilitating discharge of functions of Commission and specified
persons) amended
In Article 43 of the Law –
(a) in paragraph (1),
before the words “Article 42” there is inserted “Subject
to paragraph (1AA),”;
(b) after
paragraph (1) there is inserted –
“(1AA) Paragraph (1)
shall not apply in respect of information held by the Commission that
originated from a participant in a college of supervisors established under Article 116
of Directive 2013/36/EU, unless the participant in the college of supervisors consents,
in writing, to the disclosure, and if such consent is for a specific purpose,
the disclosure must only be made for that specific purpose.”.
4 Article 44
(disclosure for facilitating discharge of functions by other supervisory
authorities) amended
In Article 44 of the Law –
(a) in paragraph (1)(c)
and (d), before the words “any person for the purpose” where they
appear in those sub-paragraphs there is inserted “subject to paragraph (1B),”;
(b) after
paragraph (1A) there is inserted –
“(1B) Paragraph (1)(c) and (d) shall not
apply in respect of information held by the Commission that originated from a
participant in a college of supervisors established under Article 116 of
Directive 2013/36/EU unless the participant in the college of supervisors consents,
in writing, to the disclosure, and if such consent is for a specific purpose, the
disclosure must only be made for that specific purpose.”.
5 Article 45
(other permitted disclosures) amended
In Article 45 of the Law, after paragraph (6) there is
inserted –
“(8) Paragraphs (1)(c) and
(e), (2), (3), (4), (5), (6) and (7) shall not apply in respect of information
held by the Commission that originated from a participant in a college of
supervisors established under Article 116 of Directive 2013/36/EU
unless the participant in the college of supervisors consents, in writing, to
the disclosure, and if such consent is for a specific purpose, the disclosure
must only be made for that specific purpose.”.
6 Citation and commencement
These Regulations may be cited as the Banking Business (Amendment of
Law) (Jersey) Regulations 2019 and come into force 7 days after they
are made.
dr. m. egan
Greffier of the States