Money Laundering (Amendment No. 8) (Jersey) Order 2015

Money Laundering (Amendment No. 8) (Jersey) Order 2015

Made                                                                        23rd March 2015

Coming into force                                                     24th March 2015

THE CHIEF MINISTER, in pursuance of Articles 37 and 43 of the Proceeds of Crime (Jersey) Law 1999[1], and having consulted the Jersey Financial Services Commission, orders as follows –

1        Article 3 amended

In Article 3 of the Money Laundering (Jersey) Order 2008[2] –

(a)     in paragraph (2)(b) after the words “acting for a third party” there shall be inserted the words “, whether directly or indirectly,”;

(b)     at the end of paragraph (7)(b)(i) the word “or” shall be deleted;

(c)     after paragraph (7)(b)(ii) there shall be added the word “or” and the following sub-paragraph –

“(c)    that person is an individual who otherwise exercises ultimate effective control over the third party.”.

2        Article 11 amended

For Article 11(3)(e) of the Money Laundering (Jersey) Order 2008, there shall be substituted the following sub-paragraph –

“(e)    determining whether a business relationship or transaction or a proposed business relationship or transaction is with a person that is –

(i)      subject to measures under law applicable in Jersey for the prevention and detection of money laundering,

(ii)      connected with an organization that is subject to such measures, or

(iii)     connected with a country or territory that is subject to such measures;”.

3        Article 21 amended

For Article 21(5) of the Money Laundering (Jersey) Order 2008 there shall be substituted the following paragraph –

“(5)    The requirements described in paragraphs (1)(h), (1)(ha), (2) and (4) shall not apply to a relevant person who is a professional legal adviser where the information or matter that would otherwise be the subject of disclosure is an item subject to legal privilege.”.

4        Citation and commencement

This Order may be cited as the Money Laundering (Amendment No. 8) (Jersey) Order 2015 and shall come into force on the day after it is made.

senator i.j. gorst

Chief Minister

 


 



[1]                                    chapter 08.780

[2]                                    chapter 08.780.30


Page Last Updated: 14 Apr 2016