Financial
Services (Disclosure and Provision of Information) (Jersey) Law 2020
A LAW to require the provision of
information relating to beneficial ownership and significant persons by certain
entities; and for other purposes.
Commencement [see
endnotes]
PART
1
INTERPRETATION
AND APPLICATION
1 Interpretation[1]
In this Law –
“annual confirmation statement”
is to be construed in accordance with Article 5;
“approved form” means a form
approved by the Commission for the purpose of this Law;
“beneficial owner” has the
meaning given in Article 2;
“beneficial owner information”
means such information with respect to the beneficial owner of an entity as is prescribed;
“Commission” means the Jersey
Financial Services Commission established by the FSC Law;
“director” has the same meaning as in the Companies (Jersey) Law 1991;
“entity” means any of the
following bodies incorporated or established in Jersey –
(a) a company (as defined in
the Companies (Jersey) Law 1991);
(b) a foundation (as defined
in the Foundations (Jersey) Law 2009);
(c) an incorporated limited
partnership (as defined in the Incorporated Limited Partnerships (Jersey) Law 2011);
(d) a limited liability
company (as defined in the Limited Liability Companies (Jersey) Law 2018);
(e) a limited liability
partnership (as defined in the Limited Liability Partnerships (Jersey) Law 2017);
(f) a separate limited
partnership (as defined in the Separate Limited Partnerships (Jersey) Law 2011);
(g) any other prescribed body
or person;
“foreign competent authority” means a public authority, excluding a
self-regulating authority, exercising functions or having responsibility for
anti-money laundering and counter terrorism measures in a jurisdiction outside
Jersey, and includes –
(a) authorities exercising
functions with respect to investigating or prosecuting money laundering, associated
predicate offences and terrorist financing, and seizing, freezing or
confiscating criminal assets;
(b) authorities exercising
functions with respect to investigating or prosecuting offences for failing to
comply with international sanctions;
(c) authorities receiving
reports on cross-border transportation of currency and bearer-negotiable
instruments; and
(d) authorities having
supervisory or monitoring responsibilities with respect to anti-money
laundering and counter terrorism measures for the purpose of ensuring
compliance by financial institutions and designated non-financial business or
professions with anti-money laundering and counter terrorism requirements;
“FSC Law” means the Financial Services Commission (Jersey) Law 1998;
“general partner” means –
(a) in relation to an
incorporated limited partnership, a person who is named as a general
partner in the declaration (as defined in the Incorporated Limited Partnerships (Jersey)
Law 2011); or
(b) in relation to a separate
limited partnership, a person who is named as a general partner in the
declaration (as defined in the Separate Limited Partnerships (Jersey)
Law 2011);
“individual” means a natural
person;
“local competent authority” means any of the following –
(a) the Commission;
(b) the Joint Financial
Crimes Unit of the States of Jersey Police Force;
(c) the Attorney General;
(d) the Minister;
(e) any other person,
organisation or office holder prescribed by Regulations;
“Minister” means the Minister
for External Relations;
“nominated person”, in
relation to an entity, means a person appointed as a nominated person by the
entity under Article 6;
“prescribed” means prescribed
by Order made by the Minister;
“register” means any system or
database used for the recording of information (whether in written or electronic
form);
“registrar” means the person
appointed by the Commission as the registrar of companies under Article 196(1)
of the Companies (Jersey) Law 1991;
“regulated market” has
the same meaning as in regulation 3(1) of the Money Laundering, Terrorist
Financing and Transfer of Funds (Information on the Payer)
Regulations 2017 of the United Kingdom (S.I. 2017/692) and includes –
(a) an approved stock
exchange (within the meaning of the Companies (Transfers of
Shares – Exemptions) (Jersey) Order 2014); and
(b) an IOSCO-compliant market
(as defined in the Money Laundering (Jersey) Order 2008);
“self-regulating authority” means an authority that –
(a) represents a profession,
made up of members of that profession, having a role in regulating the person
who are qualified to enter and practise in the profession; and
(b) carries out certain
supervisory or monitoring functions in relation to the standards of practice in
that profession;
“significant person”
means –
(a) in relation to a
foundation, a member of the council of the foundation;
(b) in relation to an
incorporated limited partnership or a separate limited partnership, a general
partner of the partnership;
(c) in relation to a limited
liability partnership, a partner participating in the management of the
partnership (being a person who is able to cause the partnership to take a
particular action);
(d) in relation to a company,
a director or secretary of the company, or any other officer purporting to act
in a similar capacity;
(e) in relation to a limited
liability company, a manager of the limited liability company or, if there is
no manager, the members involved in the management of the limited liability
company;
(f) in relation to any other
type of entity, any other person purporting to act in a similar capacity to
those described in sub-paragraphs (a), (b), (c), (d) or (e); and
(g) any other person
prescribed by Regulations;
“significant person information”
means such information with respect to the significant persons of an entity as is
prescribed.
2 Meaning of “beneficial owner”
(1) In this Law, the “beneficial owner” of an
entity means an individual who ultimately owns or controls the entity, or the
individual on whose behalf a transaction is being conducted by the entity,
including an individual who exercises ultimate effective control over the
entity.
(2) For the purpose of paragraph (1),
ultimate effective control over an entity, includes ownership or control
exercised through a chain of ownership or by means of control other than direct
control.
(3) Without limiting the effect of Article 13
(publication of information and advice) of the FSC Law, the Commission must
publish information, or promote the publication of information, or give advice
in the form and manner it considers appropriate, to provide guidance on
identifying the beneficial owners of entities under this Article.
3 Application of Law
(1) In the event of an inconsistency between
this Law and the relevant entity legislation, this Law prevails to the extent
of the inconsistency.
(2) Without limiting the effect of paragraph (1),
the requirements set out in this Law are in addition to any requirements set
out in the relevant entity legislation.
(3) In this Article –
“relevant entity legislation” means –
(a) the Companies (Jersey) Law 1991;
(b) the Foundations (Jersey) Law 2009;
(c) the Incorporated Limited Partnerships (Jersey) Law 2011;
(d) the Limited
Liability Companies (Jersey) Law 2018;
(e) the Limited Liability Partnerships (Jersey) Law 2017;
(f) the Separate Limited Partnerships (Jersey) Law 2011; and
(g) any other prescribed
enactments.
(4) The States may, by Regulations, amend this
Part.
PART 2
DISCLOSURE OF INFORMATION TO COMMISSION
4 Information to be provided to Commission
(1) An application to the Commission to register
or establish an entity under relevant entity legislation must include the
following information –
(a) the proposed entity’s
beneficial owner information;
(b) the proposed entity’s significant
person information;
(c) if the proposed entity intends
to issue shares in the entity to a person (the “proposed nominee”) nominated by
another person (the “proposed nominator”) to act as a shareholder for the proposed
nominator –
(i) the identity of the proposed nominee, and
(ii) the identity of their proposed
nominator,
unless the proposed nominee is registered by the Commission under
the Financial Services (Jersey)
Law 1998; and
(d) any other prescribed
information.
(2) Paragraph (3) applies if an
entity becomes aware of a change occurring, or an error or inaccuracy, in the
following –
(a) the entity’s significant
person information;
(b) the entity’s beneficial
owner information, unless the entity is listed on a regulated market;
(c) any other prescribed information.
(3) An entity must notify the Commission of the
change, error or inaccuracy in relation to the information referred to in
paragraph (2) not later than 21 days after the entity becomes aware
of it.
(4) If an entity contravenes paragraph (3)
without reasonable excuse –
(a) the entity commits an
offence; or
(b) if the entity is an incorporated
limited partnership or a separate limited partnership, each general partner of
the entity commits an offence.
5 Annual confirmation statement
(1) An entity must, within the relevant period,
provide a statement (an “annual confirmation statement”) to the Commission verifying
that the beneficial owner information, significant person information and any
other prescribed information provided to the Commission in relation to the
entity is accurate.[2]
(2) If an entity contravenes paragraph (1)
without reasonable excuse –
(a) the entity commits an
offence; or
(b) if the entity is an
incorporated limited partnership or a separate limited partnership, each
general partner of the entity commits an offence.
(3) This Article does not apply to an entity that
has commenced a winding up process under the relevant entity legislation or
that is the subject of a declaration under the Bankruptcy (Désastre) (Jersey) Law 1990.
(4) In this Article, “relevant period”
means –
(a) the period between the
1st January and the end of February in each year following the year in which an
entity is established; or
(b) such other period as may
be prescribed.
6 Appointment of nominated person
(1) An application to the Commission to register
or establish an entity must specify the appointment of at least one of the
following persons (an “eligible person”) as a nominated person for the entity –
(a) a person registered under
Part 2 of the Financial Services (Jersey) Law 1998 to carry on trust company
business that involves the provision of a service –
(i) to act as or arrange for another person to
act as secretary, alternate, assistant or deputy secretary of a company or a
limited liability partnership, or
(ii) to provide a registered
office or business address for a company, partnership or foundation;
(b) a significant person of
the entity who is ordinarily resident in Jersey;
(c) a lawyer who is
ordinarily resident in Jersey and carrying on business described in paragraph 21 of Schedule 2 to the Proceeds of Crime (Jersey) Law 1999;
(d) an accountant who is
ordinarily resident in Jersey and carrying on business described in paragraph 22 of Schedule 2 to the Proceeds of Crime (Jersey) Law 1999;
(e) a fund services business construed
in accordance with Article 2(10) of the Financial Services (Jersey) Law 1998;
(f) such other person as may
be prescribed.[3]
(2) For the purpose of the Financial Services (Jersey) Law 1998, a person does not carry on
trust company business only because the person is appointed as a nominated
person under this Article.
(3) A nominated person for an entity may, by
notice in writing to the entity and the Commission, resign.
(4) An entity, by notice in writing to the
Commission –
(a) may revoke the
appointment of a nominated person for the entity; and
(b) must, as soon as
practicable, revoke the appointment of a nominated person for the entity if the
entity becomes aware that the nominated person is not an eligible person.
(5) The Commission may, by notice in writing to
the entity, revoke the appointment of a nominated person for the entity if the Commission
is satisfied that the nominated person is not an eligible person.
(6) If the appointment of a nominated person is
revoked or a nominated person resigns and the entity has no other nominated
person, the entity must, not later than 21 days after the revocation or
resignation –
(a) appoint at least one
nominated person, being an eligible person; and
(b) notify the Commission of
the appointment.
(7) If an entity contravenes paragraph (1) or (6)
without reasonable excuse –
(a) the entity commits an
offence; or
(b) if the entity is an
incorporated limited partnership or a separate limited partnership, each
general partner of the entity commits an offence.
7 Nominated person to provide information
to Commission
(1) For the purpose of providing information to
the Commission under Articles 4 and 5, a nominated person for an entity is
authorised by the entity to provide the information in the approved form and
accompanied by –
(a) the fee published by the
Commission, in accordance with Article 15 of the FSC Law, in relation to
the provision of the information (the “published fee”); and
(b) any additional amount
specified by Regulations.
(2) The Commission must pay any additional
amount referred to in paragraph (1)(b) to the Treasurer of the States.
(3) The published fee and any additional amount
referred to in paragraph (1)(b) is a debt due to the Commission from the
entity and may be sued for accordingly.
(4) A nominated person for an entity is
authorised by the entity to provide any information that is required to be
provided by the entity to the Commission or the registrar under the relevant
entity legislation.
(5) A nominated person for an entity may
provide any information that is required to be provided in relation to the
entity under relevant entity legislation despite any requirement in that
legislation that the information be provided by a particular person.
(6) For the purpose of complying with this Law
or the relevant entity legislation or for any other prescribed purpose, the
Commission may permit a nominated person for an entity to inspect, or make
copies of, any record or information kept by the Commission, but only in
relation to that entity.
8 Commission to maintain register
(1) For the purpose of this Law, the Commission
must maintain a register in such form as the Commission thinks appropriate.
(2) The Commission is to enter and keep in the
register particulars of such of the following as is notified to the Commission
by an entity –
(a) the entity’s beneficial
owner information and significant person information;
(b) the information contained
in the entity’s annual confirmation statement; and
(c) such other particulars as
are specified by Regulations.
(3) The Commission may require an entity to
authenticate any information or document provided to the Commission under this
Law in any manner reasonably determined by the Commission.
(4) Any functions of the Commission under this
Law, may, to the extent authorised by the Commission, be exercised by the
registrar or an officer of the Commission.
9 Provision of information to local competent authorities
(1) A local competent authority may, by notice
in writing, require a defined person to provide, within a period specified in
the notice, any further information or documents that the authority requires
for the purpose of carrying out the authority’s functions under this Law or any
other enactment.
(2) A local competent authority may, by notice
in writing, require a defined person to attend at such times and places as may
be specified in the notice and to answer such questions as the authority
requires the person to answer for the purpose of carrying out the authority’s
functions under this Law or any other enactment.
(3) If a defined person does not, within the
period specified in the notice, comply with a notice under paragraph (1) or (2) –
(a) the defined person commits
an offence; or
(b) if the defined person is
an incorporated limited partnership or a separate limited partnership, each
general partner of the entity commits an offence.
(4) In this Article, “defined person”
means –
(a) a nominated person for
the entity;
(b) a significant person of
the entity; or
(c) an entity.
10 Permitted disclosure of
information
(1) A person must not disclose any information
obtained in connection with the administration or execution of a function under
this Law unless that disclosure is made –
(a) with the consent of the
person from whom the information was obtained or to whom the information
relates;
(b) in connection with the
administration or execution of a function under this Law;
(c) for the purposes of any
legal proceedings;
(d) to a law enforcement
agency for the purpose of the investigation or prosecution of an offence;
(e) to a regulatory officer
for the purpose of assisting the officer in the exercise of the officer’s
functions;
(f) to a local competent
authority;
(g) as otherwise permitted by
this Article or Regulations; or
(h) with other lawful excuse.
(2) A person who fails to comply with paragraph (1)
commits an offence.
(3) The Commission may request and receive
information from a regulatory officer for the purpose of assisting the
Commission in the exercise of its functions under this Law.
(4) The Commission may enter into agreements
and other arrangements for the sharing or exchange of information as permitted
by this Article.
(5) In this Article –
“law enforcement agency” means –
(a) the States of Jersey
Police Force or the police force of an overseas jurisdiction;
(b) the Financial Conduct
Authority established under the Financial Services and Markets Act 2000 of
the United Kingdom;
(c) the Serious Fraud Office
constituted under the Criminal Justice Act 1987 of the United Kingdom;
(d) the National Crime Agency
formed under the Crime and Courts Act 2013 of the United Kingdom; or
(e) any other authority or
person responsible for the investigation or prosecution of offences –
(i) under the Sanctions and Asset-Freezing (Jersey) Law 2019, or
(ii) relating to money
laundering or terrorist financing;
“regulatory officer” means an officer or employee of any of the
following –
(a) a government agency
(including the government of a jurisdiction outside Jersey) exercising
functions under an enactment with respect to anti-money laundering and counter
terrorism measures;
(b) any organisation
(including organisations outside Jersey) exercising administrative functions
with respect to the incorporation of entities or bodies incorporated outside
Jersey that are equivalent to entities;
(c) the Comptroller of
Revenue (construed in accordance with Article 2 of the Revenue Administration (Jersey) Law 2019);
(d) the Viscount’s
Department.
11 Authority to disclose
information
(1) The Commission may disclose information
obtained by the Commission in connection with the exercise of the Commission’s
functions under this or any other Law –
(a) to a local competent authority,
as soon as practicable, at the request of that authority; and
(b) for any purpose specified
by Regulations.
(2) This Article and Regulations made under
paragraph (1)(b) extend to information obtained before the commencement of
this Article unless the Regulations provide otherwise.
(3) The power to specify a purpose under
paragraph (1)(b) does not imply that the Commission may disclose
information only for a specified purpose.
(4) A local competent authority may, at the
request of a foreign competent authority –
(a) facilitate access by the
foreign competent authority to information held by the local competent
authority;
(b) exchange information with
the foreign competent authority on shareholders, including nominee shareholders;
and
(c) obtain beneficial owner
information on behalf of the foreign competent authority.
12 Provision of information
under this Law not a breach of confidentiality
A requirement under this Law to provide information or a document
has effect despite any obligation as to the confidentiality or other
restriction on disclosure of information imposed under any other enactment, or
a contract or otherwise (other than legal professional privilege), and
accordingly, the obligation or restriction is not contravened by making a
disclosure in accordance with such a requirement.
13 Keeping of records
The Commission must keep and maintain the information and records
provided by an entity under this Law for at least 5 years after the date
on which the entity is dissolved or otherwise ceases to exist as a registered
entity.
PART 3
OFFENCES
14 False or misleading information
(1) A person who knowingly or recklessly
provides the Commission, a nominated person or any other person entitled to
information under this Law with information that is false or misleading in a
material particular commits an offence.
(2) A person who, with intent to avoid
detection by the Commission or the registrar of an offence under this Law,
removes out of the jurisdiction, destroys, conceals or fraudulently alters any information,
or causes or permits the removal, destruction, concealment or fraudulent
alteration of any information, commits an offence.
(3) A person commits an offence if the person
fails to provide the Commission with any information in the person’s possession
knowing or having reasonable cause to believe that the information is
required to be provided to the Commission under this Law in relation to that
person.
(4) The Commission may refuse to register
information provided by an entity in purported compliance with this Law if the
Commission reasonably believes that the information is false or misleading.
15 Criminal liability of significant
persons
(1) This Article applies where an offence under
this Law committed by an entity is proved to have been committed with the
consent or the connivance of a significant person.
(2) Where this Article applies, the significant
person is also guilty of the offence and liable to the penalty provided for
that offence in the same manner as the entity.
16 Punishment of offences
(1) The penalty for an offence under –
(a) Articles 5(2), 6(7),
19(7) and paragraph 3(2) or 4(2) of the Schedule, is a fine not exceeding
level 3 on the standard scale;
(b) Articles 4(4) and
9(3), is a fine and 4 years’ imprisonment;
(c) Article 10(2), is a
fine and 5 years’ imprisonment; and
(d) Article 14(1), (2) and
(3), is a fine and 7 years’ imprisonment.
(2) In addition to an entity’s liability to a fine
under paragraph (1)(a), an entity is also liable to a daily default fine,
being a fine not exceeding level 2 on the standard scale, for each day
(other than the first day) on which the subsequent offence is proved to have
continued if –
(a) the entity has been
convicted of an offence specified in paragraph (1)(a);
(b) the entity is convicted
of having again committed that offence; and
(c) on that subsequent
occasion the contravention has continued for more than one day.
(3) If an entity does not comply with Article 4(3),
5(1), 6(1) or (6), 9(1) or (2) or paragraph 3(2) or 4(2) of the Schedule,
the registrar may send a notice to the entity stating that, at the end of the
period of 3 months following the date of the notice –
(a) the name of the entity will
be struck off the register; or
(b) the registration of the
entity will be cancelled and the entity will be dissolved, unless the entity
complies with the relevant provision.
(4) If the entity has not complied with the
relevant provision before the end of the period specified in the notice, the registrar
may strike the entity’s name off the register or cancel the registration of the
entity.
(5) On striking an entity’s name off the
register or cancelling the registration of an entity, the registrar must cause
notice of that fact to be published on the website of the Commission.
PART 4
MISCELLANEOUS PROVISIONS
17 Fees and charges
(1) The Commission may require –
(a) the payment of fees in
respect of the performance by the Commission of its functions under this Law
generally or in relation to an entity or class of entities;
(b) the payment of fees for
the provision by the Commission of any service, assistance, documents or
information; and
(c) if a document or
information is not provided to the Commission in accordance with this Law, the
payment of late fees, which are payable when the document or information is
provided.
(2) The Commission must, in accordance with
Article 15 of the FSC Law, publish the amount of a fee required to be paid
under this Article.
18 Consent to receive information by way of electronic
communication
For the purpose of Articles 11(1)(b) and 12(1)(c) of the Electronic Communications (Jersey) Law 2000, the Commission is taken to
have consented to the giving of information or the provision of a signature by
way of an electronic communication in relation to the following –
(a) information that is
required to be provided to the registrar or the Commission under this Law or
any other enactment, whether the information is required to be provided in
writing or otherwise;
(b) a person’s signature that
is required, under this Law or any other enactment, for the purpose of
authenticating or verifying a document or statement provided to the registrar
or the Commission.
19 Royal Court may declare dissolution of entity void
(1) The Royal Court may make an order declaring
the dissolution of an entity under Article 16(5) to be void.
(2) The order may be made on the application of
any person who would have been a person with standing in respect of the entity
had it not been dissolved.
(3) The application may only be made during the
10 years after the dissolution of the entity.
(4) The order may be made on such terms as the
Royal Court thinks fit.
(5) The Royal Court may, by the order, give
directions and make provisions necessary to place the entity and any other
person (including the Crown) in the same position, as nearly as may be, as if
the entity had not been dissolved.
(6) The person on whose application the order
was made must, not later than 28 days after the order is made or within
such longer period as the Royal Court may allow, deliver the Act of the Royal
Court to the registrar.
(7) A person who contravenes paragraph (6) commits
an offence.
(8) The registrar must, as soon as practicable
after receiving the Act of the Royal Court, amend the register accordingly.
(9) In this Article, a
“person with standing” in respect of an entity includes the following –
(a) a significant person of
the entity;
(b) a nominated person for
the entity;
(c) the entity;
(d) the Attorney General;
(e) such other person as
may be prescribed.
20 Regulations
(1) The States may, by Regulations –
(a) prescribe exemptions from
the operation of this Law or specified provisions of this Law;
(b) specify that any
information that is required to be entered and kept in
the register under this Law is or is not to be made public;
(c) provide for the making of
applications by an entity to the Commission to prevent certain information from
being made public;
(d) provide for reviews and
appeals in relation to any determination or decision made by the registrar or
the Commission under this Law;
(e) provide for the
destruction of information and records provided by an entity under this Law,
including specifying any period during which the information and records must
not be destroyed;
(f) amend the penalties for
any offence under this Law and create offences and specify penalties for those
offences not exceeding imprisonment for 7 years and a fine; and
(g) amend the relevant entity
legislation for the purpose of removing any requirement for an entity to
provide the Commission with information, including annual returns.
(2) The Minister must consult the Commission
before proposing Regulations under paragraph (1)(b).
(3) Regulations made under this Law may make
provision for the purpose of carrying this Law into effect and may –
(a) contain such incidental, supplemental
and transitional provisions as appear to the States to be necessary or
expedient; and
(b) make such consequential
provisions as appear to the States to be necessary or expedient, including
provision making amendments to any enactment –
(i) for the general purposes, or any
particular purpose, of this Law,
(ii) in consequence of any
provision made by or under this Law, or
(iii) for giving full effect to
this Law or any provision of it.
21 Orders
(1) The Minister may, by Order, exempt from the
provisions of this Law the doing of anything by or on behalf of any person
prescribed, or any transactions prescribed, subject to such conditions or
restrictions as may be prescribed.
(2) An Order made under this Law may make
different provision for different cases and contain such incidental,
supplemental and transitional provisions as appear to the Minister to be
necessary or expedient.
(3) The Minister must consult the Commission
before making any Orders under this Law.
22 Codes of Practice
(1) The Commission may, after consultation with
such persons or bodies as appear to be representative of the interests
concerned –
(a) prepare and issue a Code
of Practice setting out the principles and detailed requirements that must be
complied with in carrying out any requirement under this Law;
(b) revise any such Code of
Practice by revoking, varying, amending or adding to its provisions; and
(c) indicate in any such Code
of Practice if, and to what extent, it is or is not to apply to an entity or
individual or class of entity or individual.
(2) The Commission –
(a) must publish any Code of
Practice issued under this Article on the website of the Commission and in any
other form and manner the Commission considers appropriate; and
(b) may make such arrangements
as it thinks fit for the distribution of a Code of Practice, including causing hard
copies of the Code of Practice to be put on sale to the public at such price as
the Commission considers to be reasonable.
(3) The contravention of a Code of Practice does
not of itself render a person liable to proceedings of any kind or invalidate
any transaction.
(4) A Code of Practice issued under this
Article is admissible in evidence if it appears to the court conducting the
proceedings to be relevant to any question arising in the proceedings and is to
be taken into account in determining any such question.
(5) A copy, certified in writing on behalf of
the Commission to be an accurate copy of a Code of Practice, or of any part of
a Code of Practice, is admissible in evidence in all legal proceedings as of
equal validity with the original and as evidence of any fact stated in it, of
which direct oral evidence would be admissible.
(6) Where a document purports on its face to be
a copy of a Code of Practice or part of a Code of Practice, certified in
accordance with paragraph (5), it is unnecessary for the purposes of
paragraph (5) to prove the official position or handwriting of the person
signing on behalf of the Commission.
23 Limitation of liability
(1) This Article applies to –
(a) the States;
(b) the Minister or any
person who is, or is acting as, an officer, servant or agent in an
administration of the States for which the Minister is assigned responsibility;
(c) the Commission, any
Commissioner or any person who is, or is acting as, an officer, servant or
agent of the Commission; and
(d) the registrar, the deputy
registrar, an assistant registrar or any person who is, or is acting as, an
officer, servant or agent of the registrar.
(2) A person or body to whom this Article
applies is not liable in damages for anything done or omitted to be done in the
discharge or purported discharge of any functions under this Law or any
enactment made, or purportedly made, under this Law, unless it is shown that
the act or omission was made in bad faith.
(3) The limitation of liability under this
Article does not apply to prevent an award of damages made in respect of an act
on the ground that the act was unlawful under Article 7(1) of the Human Rights (Jersey) Law 2000.
24 Rules of Court
The power to make rules of court under the Royal Court (Jersey) Law 1948 includes a power to make
Rules for the purpose of this Law.
25 Customary law
The rules of customary law applicable to an entity apply to an
entity except to the extent that they are inconsistent with the express
provisions of this Law.
26 Transitional provisions
(1) The Schedule makes transitional provisions
in respect of existing entities (as defined in the Schedule).
(2) The States may, by Regulations, amend the
Schedule and make provision for any other transitional matter connected with
the coming into force of this Law.
27 [4]
28 Citation and commencement
This Law may be cited as the
Financial Services (Disclosure and Provision of Information) (Jersey)
Law 2020 and comes into force on such day or days as the States may by Act
appoint.