Companies
(Amendment) (Jersey) Order 2014
Made 1st August 2014
Coming into force 1st
August 2014
THE CHIEF MINISTER, in pursuance of Articles 74ZA(11) and 219 of the Companies (Jersey) Law 1991[1], and having consulted the Jersey Financial Services Commission, orders as follows –
1 Amendment of Article 74ZA(1) of the
Companies (Jersey) Law 1991
(1) In Article 74ZA of the Companies (Jersey) Law 1991[2] –
(a) in paragraph (1) –
(i) the word “and” at the end of sub-paragraph (e)
shall be deleted,
(ii) for the full-stop at the end of sub-paragraph (f) there
shall be substituted the word “; and”,
(iii) after
sub-paragraph (f) there shall be inserted the following
sub-paragraph –
“(g) where
the company is a fund –
(i) a person connected with the establishment or promotion of
the fund, and
(ii) any
person who is accustomed to acting in accordance with the directions of a
person referred to in clause (i), whether given directly or indirectly (but
disregarding advice given in a professional capacity).”;
(b) after paragraph (10) there shall be inserted the
following paragraph –
“(10A) In paragraph (1)(g) ‘fund’ means –
(a) a scheme or arrangement which would be a
collective investment fund under Article 3 of the Collective Investment
Funds (Jersey) Law 1988[3] but for the fact that it
does not acquire capital by means of an offer to the public of units for
subscription, sale or exchange as described in that Law;
(b) a certified fund
within the meaning of the Collective Investment Funds (Jersey) Law 1988;
(c) a recognized fund
within the meaning of the Collective Investment Funds (Jersey) Law 1988; or
(d) an unregulated fund within the meaning of the
Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008[4].”.
2 Citation
and commencement
This Order may be cited as the Companies (Amendment) (Jersey) Order 2014
and shall come into force on the same day as the Companies (Amendment No. 11)
(Jersey) Law 2014.
senator i.j. gorst
Chief Minister