Proceeds
of Crime (Provision of Information by Trustees) (Jersey) Order 2021
1 Interpretation and application
(1) In
this Order –
“beneficial ownership”, in relation to a trust,
means –
(a) a natural person who is a
beneficiary of the trust; or
(b) the ultimate owner or
controller of a beneficiary of the trust, if that beneficiary is not a natural
person;
“one-off transaction” has the meaning given to
it by Article 4 of the Money Laundering
(Jersey) Order 2008.[1]
(2) This
Order applies to a trustee of an express trust, if –
(a) that express trust is a
Jersey trust; or
(b) that express trust is a
foreign trust, if –
(i) the trustee is resident in Jersey,
(ii) any trust property of
that foreign trust is situated in Jersey, or
(iii) administration of any
trust property of that foreign trust is carried on in Jersey.
(3) In
paragraph (2) –
“express trust” has the meaning given to it by
Article 1(1) of the Financial Services
(Jersey) Law 1998;
“Jersey trust” has the
meaning given to it by Article 1(1) of the Trusts (Jersey) Law 1984; and
“foreign trust” has the meaning given to it by
Article 1(1) of the Trusts (Jersey) Law 1984.
2 Trustee must declare status[2]
A person who is acting as
a trustee of a trust must state that that person is acting in his or her
capacity as trustee of that trust (and not in that person’s personal capacity) –
(a) when forming a business
relationship with a financial services business; or
(b) when conducting a one-off
transaction with a financial services business.
3 Information provided by
trustees
(1) Despite any provision of any trust
document, or any other enactment, a trustee of a trust –
(a) must provide to a Jersey
competent authority any information requested by that Jersey competent
authority; and
(b) may provide to a financial
services business with which the trust has a business relationship, on request
by that business, information regarding –
(i) the beneficial ownership of the trust,
(ii) the settlor, protector
or enforcer of the trust, if any, or
(iii) the assets of the trust
that are to be held or managed by the financial services business under the
terms of the business relationship.[3]
(2) A request for information by an external
competent authority must be made via a Jersey competent authority under an
appropriate international co-operation request.[4]
(3) On receipt of a request for information
from an external competent authority under paragraph (2), a Jersey
competent authority may request all or any of that information from the trust.[5]
(4) In this Article –
“external competent authority” means any person or body
having supervisory, regulatory or disciplinary functions in relation to
financial services, any profession or any area of commercial activity outside
Jersey;
“Jersey competent authority”
means –
(a) an inspector appointed
under Article 128 of the Companies (Jersey) Law 1991;
(b) the Commission;
(c) the FIU;
(d) the Attorney General;
(e) the Minister for External
Relations; or
(f) any other person or body
having supervisory, regulatory or disciplinary functions in relation to
financial services, any profession or any area of commercial activity in
Jersey.[6]
4 Citation and commencement
This Order may be cited as the Proceeds of Crime (Provision of
Information by Trustees) (Jersey) Order 2021 and comes into force on the same
day as Article 2 of the Proceeds of
Crime (Amendment No. 4) (Jersey) Law 2021.