Proceeds of Crime
(Supervisory Bodies) (Designation of Supervisory Bodies) (Jersey)
Order 2008
Made 5th September 2008
Coming into force in
accordance with Article 4(2)
THE MINISTER FOR ECONOMIC DEVELOPMENT, on the recommendation of the Jersey
Financial Services Commission and in pursuance of Article 6 of the
Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008[1], orders as follows –
1 Interpretation
In this Order “principal Law” means the Proceeds of Crime (Supervisory Bodies) (Jersey)
Law 2008[2].
2 Designation
of the Commission as supervisory body in respect of prescribed persons and
businesses
(1) The
Commission is designated as a supervisory body.
(2) A
person carrying on a specified Schedule 2 business, other than a person
mentioned in Article 5 of the principal Law, is a prescribed person.
(3) The
Commission shall exercise supervisory functions in respect of –
(a) any
prescribed person; and
(b) any
specified Schedule 2 business carried on by a prescribed person.
(4) The
Commission shall have all supervisory functions in relation to any prescribed
person.
3 Lawyers
and accountants
The Commission shall not exercise supervisory functions after the
date that is 18 months after the date this Order comes into force in
respect of any specified Schedule 2 business that falls within item 8
or 9 of the table in the Schedule to the principal Law.
4 Citation
and commencement
(1) This
Order may be cited as the Proceeds of Crime (Supervisory Bodies) (Designation
of Supervisory Bodies) (Jersey) Order 2008.
(2) This
Order shall come into force on the same day as the Proceeds of Crime
(Supervisory Bodies) (Jersey) Law 2008 comes into force.
senator p.f.c. ozouf
Minister for Economic Development