EU Legislation
(Information Accompanying Transfers of Funds) (Jersey) Regulations 2017
Made 6th June 2017
Coming into force 13th
June 2017
THE STATES, in pursuance of Article 2 of the European Union Legislation (Implementation)
(Jersey) Law 2014[1], have made the following
Regulations –
1 Interpretation
In these Regulations –
“payee” means a person that is the intended final
recipient of transferred funds;
“payer” means a person that is the holder of an account
held with a payment service provider that allows a transfer of funds from the
account or, where there is no account, a person that places an order for a transfer
of funds;
“Regulation (EU) 2015/847” means Regulation (EU) 2015/847
of the European Parliament and of the Council of 20 May 2015 on
information accompanying transfers of funds and repealing Regulation (EC) No 1781/2006
(OJ L 141, 5.6.2015, p. 1).
2 Implementation
of Regulation
(EU) 2015/847
(1) Regulation
(EU) 2015/847 has effect in Jersey as if it were an enactment –
(a) to
any extent that it does not otherwise have effect in Jersey; and
(b) subject
to the exceptions, adaptations and modifications specified in the Schedule.
(2) Any
reference in the Schedule to a numbered Article, without more, is a reference
to the Article so numbered of Regulation (EU) 2015/847.
3 Offences
(1) A payer’s
payment service provider who contravenes any requirements of Articles 4, 5, 6, 14,
15(2) or (3), 16 or 21(2) of Regulation (EU) 2015/847,
as those Articles have effect in Jersey by virtue of Regulation 2, shall
be guilty of an offence and liable to imprisonment for a term of 2 years
and to a fine.
(2) A payee’s
payment service provider who contravenes any requirements of Articles 7,
8, 9, 14, 15(2) or (3), 16 or 21(2) of Regulation (EU) 2015/847,
as those Articles have effect in Jersey by virtue of Regulation 2, shall
be guilty of an offence and liable to imprisonment for a term of 2 years
and to a fine.
(3) An
intermediary payment service provider who contravenes any requirements of Articles 10, 11, 12, 14, 15(2) or (3), 16 or 21(2) of
Regulation (EU) 2015/847, as those Articles have effect in Jersey by
virtue of Regulation 2, shall be guilty of an offence and liable to
imprisonment for a term of 2 years and to a fine.
(4) In
deciding whether a person has committed an offence under this Regulation, the
court shall take into account whether the person followed any relevant guidance
that applies to the person and which was at the time issued, adopted or
approved by the Jersey Financial Services Commission under any other enactment.
(5) A
person shall not be guilty of an offence under this Regulation if he or she
took all reasonable steps, and exercised all due diligence, to avoid committing
the offence.
(6) In this Regulation –
“intermediary payment
service provider” means a payment service provider that is neither that
of the payer nor that of the payee and that participates in the execution of
transfers of funds;
“payment service
provider” means a person, being a person registered under the Banking
Business (Jersey) Law 1991[2], when –
(a) the person is carrying out payment services
in or from within Jersey; or
(b) being a legal person established under
Jersey law, the person is carrying out payment services in any part of the
world other than in or from within Jersey.
4 Criminal
liability of partners, directors and other officers
(1) If an offence under these Regulations committed
by a limited liability partnership, a separate limited partnership, any other
partnership having separate legal personality or a body corporate is proved to
have been committed with the consent or connivance of –
(a) a
person who is a partner of the partnership, or a director, manager, secretary
or other similar officer of the body corporate; or
(b) any
person purporting to act in any such capacity,
the person is also guilty of the offence and liable in the same
manner as the partnership or body corporate to the penalty provided for that
offence.
(2) If the
affairs of a body corporate are managed by its members, paragraph (1)
applies in relation to acts and defaults of a member in connection with the
member’s functions of management as if he or she were a director of the
body corporate.
5 Repeal
of Community Provisions (Wire Transfers) (Jersey) Regulations 2007
The Community Provisions
(Wire Transfers) (Jersey) Regulations 2007[3] are repealed.
6 Citation and commencement
These Regulations may be cited as the EU Legislation (Information
Accompanying Transfers of Funds) (Jersey) Regulations 2017 and shall come
into force 7 days after they are made.
l.-m. hart
Deputy Greffier of the States
SCHEDULE
(Regulation 2)
EXCEPTIONS,
ADAPTATIONS AND MODIFICATIONS TO PROVISIONS OF Regulation
(EU) 2015/847 IN RESPECT OF ITS EFFECT IN JERSEY
1. Except
where otherwise provided in this Schedule, references in Regulation (EU) 2015/847
to “Member State” and “the Union” shall be read as if
Jersey were itself a Member State, its territory were included within the Union
territory and for the purposes of European Union law were a separate country
from the United Kingdom.
2. Any
reference in Regulation (EU) 2015/847 to an amount of currency expressed
in euro (EUR) shall be construed as also meaning that amount converted into,
and expressed as, an amount of any other currency.
3. In Article 1,
for the words “the Union” there shall be substituted the word
“Jersey”.
4. In Article 2 –
(a) in paragraph 1, for the words “the
Union” there shall be substituted the word “Jersey”;
(b) in paragraph 4(b), for the words “a
Member State” there shall be substituted the words “the British Islands”;
(c) in paragraph 5 –
(i) for the words “its
territory” there shall be substituted the words “the British
Islands”,
(ii) in subparagraph (a) for the words
“Directive (EU) 2015/849” there shall be substituted the words
“the requirements of the Money Laundering (Jersey) Order 2008[4] or the Terrorism (Jersey) Law 2002[5] or is subject to equivalent requirements under enactments of the United
Kingdom, Guernsey or the Isle of Man”.
5. In Article 3 –
(a) in paragraph (1), for the words “means
terrorist financing as defined in Article 1(5) of Directive (EU) 2015/849”
there shall be substituted the words “means an offence referred to in Article 15
or 16 of the Terrorism (Jersey) Law 2002”;
(b) in paragraph (2), for the words “means
the money laundering activities referred to in Article 1(3) and (4) of
Directive (EU) 2015/849” there shall be substituted the words “means
money laundering as defined in Article 1(1) of the Proceeds of Crime
(Jersey) Law 1999[6]”;
(c) paragraphs (3)
and (4) shall be omitted;
(d) after paragraph (12) there shall be
inserted the following paragraphs –
“(13) ‘British
Islands’ means the United Kingdom, Jersey, Bailiwick of Guernsey and the
Isle of Man;
(14) ‘competent
authority’ means the Jersey Financial Services Commission established by Article 2
of the Financial Services Commission (Jersey) Law 1998[7];
(15) ‘electronic
money’ means electronically (including magnetically) stored monetary
value, as represented by a claim on the issuer, which is issued on receipt of
funds for the purpose of making a payment transaction, and which is accepted by
a person other than the issuer of the electronic money;
(16) ‘payment
transaction’ means an act, initiated by the payer or by the payee, of
placing, transferring or withdrawing funds, irrespective of any underlying
obligations between the payer and the payee.”.
6. In Article 4, for paragraph 5
there shall be substituted the following paragraph –
“5. Verification as
referred to in paragraph 4 shall be deemed to have taken place where the payer’s
payment service provider has complied with –
(a) the requirements of Article 13(1)(a) of
the Money Laundering (Jersey) Order 2008 that apply in relation to the
payer and the information obtained pursuant to that Article has been stored in
accordance with Part 4 of that Order ; or
(b) Article 13(1)(c) of the Money
Laundering (Jersey) Order 2008.”.
7. In Article 5, in the heading
and in paragraph 1, for the word “Union” there shall be substituted
the words “British Islands”.
8. In Article 6, in the heading
and in paragraphs 1 and 2, for the word “Union” there shall be
substituted the words “British Islands”.
9. In Article 7 –
(a) in paragraph 2, for the word “Union”,
wherever it appears, there shall be substituted the words “British
Islands”;
(b) in paragraph 3, for the words “Articles 69
and 70 of Directive 2007/64/EC” there shall be substituted the words “Regulations 36
and 37 of the EU Legislation (Payment Services – SEPA) (Jersey) Regulations 2015[8]”;
(c) for paragraph 5 there shall be
substituted the following paragraph –
“5. Verification as
referred to in paragraphs 3 and 4 shall be deemed to have taken place
where the payee’s payment service provider has complied with –
(a) the requirements of Article 13(1)(a) of
the Money Laundering (Jersey) Order 2008 that apply in relation to the
payee and the information obtained pursuant to that Article has been stored in
accordance with Part 4 of that Order; or
(b) Article 13(1)(c) of the Money
Laundering (Jersey) Order 2008.”.
10. In Article 8, in paragraph 1, for the
words “procedures based on the risk-sensitive basis referred to in Article 13
of Directive (EU) 2015/849” there shall be substituted the words “the
measure referred to in Article 3(5) of the Money Laundering (Jersey) Order 2008”.
11. In Article 9, for the words “whether
it is to be reported to the Financial Intelligent Unit (FIU) in accordance with
Directive (EU) 2015/849” there shall be substituted the words
“whether a disclosure is to be made under Article 34D(4) of the
Proceeds of Crime (Jersey) Law 1999, Article 21(2) of the Money
Laundering (Jersey) Order 2008 or Article 21(4) of the Terrorism
(Jersey) Law 2002”.
12. In Article 11, for the word “Union”,
wherever it appears, there shall be substituted the words “British
Islands”.
13. In Article 13, for the words “whether
it is to be reported to the FIU in accordance with Directive (EU) 2015/849”
there shall be substituted the words “whether a disclosure is to be made
under Article 34D(4) of the Proceeds of Crime (Jersey) Law 1999, Articles 21(2)
of the Money Laundering (Jersey) Order 2008 or Article 21(4) of the
Terrorism (Jersey) Law 2002”.
14. In Article 14, the words “, including
by means of a central contact point in accordance with Article 45(9) of
Directive (EU) 2015/849, where such a contact point has been appointed,”
shall be omitted.
15. In Article 15 –
(a) in paragraph 1 –
(i) for the words “Directive
95/46/EC, as transposed into national law” there shall be substituted the
words “the Data Protection
(Jersey) Law 2005[9]”,
(ii) the second sentence shall be omitted;
(b) in paragraph 3, for the words “Article 10
of Directive 95/46/EC” there shall be substituted the words “the Data Protection (Jersey) Law 2005”.
16. In Article 16 –
(a) In paragraph 1, for the words “five
years” there shall be substituted the words “six years”;
(b) paragraphs 2
and 3 shall be omitted.
17. Articles 17, 18, 19 and 20
shall be omitted.
18. In Article 21 in paragraph 1, the
second sentence shall be deleted.
19. In Article 22, paragraph 2 shall
be omitted.
20. Articles 23 to 27 shall be omitted.
21. After Article 27, the words “This
Regulation shall be binding in its entirety and directly applicable in all
Member States.” shall be omitted.