Collective
Investment Funds (Unregulated Funds) (Amendment) (Jersey) Order 2008
Made 15th August 2008
Coming into force 22nd
August 2008
THE MINISTER FOR ECONOMIC DEVELOPMENT, 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 Article
1 amended
In Article 1 of the principal
Order –
(a) in paragraph (1) after the definition
“closed fund” there shall be inserted the following
definition –
“‘eligible investor’ has the meaning specified in
paragraph 6 of Schedule 1;”;
(b) in paragraph (1) the definition
“fund services business” shall be deleted;
(c) paragraph (2) shall be deleted.
3 Schedule
1 amended
For paragraph 2 of Schedule 1 to the principal Order there
shall be substituted the following paragraph –
“2 Registered office
of company provided by registered person
In the case of a fund that is
a company, the registered office of the company is provided by way of business
by a person registered under the Financial Services (Jersey) Law 1998 in
respect of fund services business (within the meaning of that Law) of one or
more classes that are or include that of –
(a) manager, manager of a managed entity,
administrator, investment manager, investment adviser;
(b) trustee, custodian or depositary; or
(c) member (except a limited partner) of a
partnership, including a partnership constituted under the law of a country or
territory outside Jersey,
within the meaning of that
Law.”.
4 Schedule
2 amended
For paragraph 2 of Schedule 2 to the principal Order there
shall be substituted the following paragraph –
“2 Registered office
of company provided by registered person
In the case of a fund that is
a company, the registered office of the company is provided by way of business
by a person registered under the Financial Services (Jersey) Law 1998 in
respect of fund services business (within the meaning of that Law) of one or
more classes that are or include that of –
(a) manager, manager of a managed entity,
administrator, investment manager, investment adviser;
(b) trustee, custodian or depositary; or
(c) member (except a limited partner) of a
partnership, including a partnership constituted under the law of a country or
territory outside Jersey,
within the meaning of that
Law.”.
5 Citation
and commencement
(1) This
Order may be cited as the Collective Investment Funds (Unregulated Funds)
(Amendment) (Jersey) Order 2008.
(2) This
Order shall come into force 7 days after it is made.
senator p.f.c. ozouf
Minister for Economic
Development