Financial
Services (Disclosure and Provision of Information) (Jersey) Order 2020
1 Interpretation
In this Order –
“Law” means the Financial Services (Disclosure and Provision of
Information) (Jersey) Law 2020;
“nominator”
means a person who instructs (directly or indirectly) a second person on the
actions that that person is to take in that person’s capacity as director of a
company;
“nominee director” means a director of a company
who in that capacity agrees to act routinely and without discretion on the
direct or indirect instructions of a nominator, whether or not that director is
subject to a formal nominee arrangement;
“organisation” means a body
that is equivalent to an entity, but is formed under a law other than the law
of Jersey.
2 Beneficial owner
information
For the purpose of the definition “beneficial owner information” in
Article 1 of the Law, the following information is prescribed with respect
to an individual who is the beneficial owner of an entity –
(a) the name and any former
name or other names by which the individual is or was known;
(b) an address for
correspondence to the individual;
(c) the residential address of
the individual;
(d) the individual’s
nationality;
(e) the individual’s
occupation;
(f) the individual’s gender;
(g) the individual’s date of
birth;
(h) the individual’s place
and country of birth.
3 Significant person
information
For the purpose of the definition “significant person information”
in Article 1 of the Law –
(a) the following information
is prescribed with respect to an individual who is a significant person in
relation to an entity –
(i) the name and any former name or other
names by which the individual is or was known,
(ii) an address for
correspondence to the individual,
(iii) the residential address
of the individual,
(iv) the individual’s
nationality,
(v) the individual’s occupation,
(vi) the individual’s date of
birth,
(vii) the individual’s place and
country of birth;
(b) the following information
is prescribed with respect to an entity that is a significant person in
relation to an entity –
(i) the type of entity,
(ii) the registered name and
number of the entity,
(iii) the registered office
address or business address of the entity,
(iv) the date on which the
entity was incorporated or established;
(c) the following information
is prescribed with respect to an organisation that is a significant person in
relation to an entity –
(i) the type of organisation,
(ii) the registered name and
number of the organisation,
(iii) the jurisdiction within
which the organisation is incorporated or established,
(iv) the address of the
registered office or equivalent of the organisation,
(v) the date on which the organisation was
incorporated or established;
(d) if a significant person
in relation to a company is a nominee director, the name of that nominee
director’s nominator is prescribed.
4 Information to be
provided in relation to the nominated person
For the purpose of Article 4(1)(d) of the Law, the following
information is prescribed in relation to the nominated person of an
entity –
(a) if the nominated person
is an individual, that person’s name, address and email address;
(b) if the nominated person
is an entity –
(i) the type of entity,
(ii) the name of the entity,
(iii) the entity’s registered
address,
(iv) registered number of the
entity.
5 Information to be
provided in annual confirmation statement
(1) For the purpose of Article 5(1) of the
Law, the following other information is prescribed –
(a) the registered address or
business address (whichever is the case) of the entity;
(b) where the entity is a
company –
(i) the name of the nominator of any nominee
director,
(ii) in relation to a par
value company –
(A) the name and address of
each member of the company who holds one per cent or more in nominal value of
all the issued shares of a class,
(B) the class and number of
shares that are held by each member to which sub-clause (A) applies,
(C) the number of members who
each hold less than one per cent in nominal value of all the issued shares of a
class,
(D) the nominal share capital
of the company,
(E) in respect of each class
of share, the number of shares into which the class is divided and the nominal
value of each share class, and
(F) the number of shares of
each class that have been issued,
(iii) in relation to a no par value
company –
(A) the name and address of
each member of the company who holds one per cent or more in number of all the
issued shares of a class,
(B) the class and number of
shares that are held by each member to which sub-clause (A) applies,
(C) the number of members who
each hold less than one per cent in number of all the issued shares of a class,
(D) the limit (if any) on the
number of shares of each class authorised to be issued, and
(E) the number of shares of
each class that have been issued,
(iv) in relation to a company
having any guarantor member –
(A) the name and address of
each guarantor member, and
(B) the maximum amount that
is guaranteed by each guarantor member in that capacity;
(c) where the entity is a limited
liability partnership, unless the limited liability partnership is the subject
of a declaration made under Article 6 of the Bankruptcy (Désastre) (Jersey) Law 1990 –
(i) confirmation as to whether the secretary
has received from the limited liability partnership any specified solvency
statement made on or after the 1st March of the previous year, and
(ii) confirmation as to
whether the limited liability partnership has provided to the secretary
accounting records or any return under Article 11 of the LLP Law and, if
so, whether the limited liability partnership has indicated that it has
provided all the records that it is required to provide under Article 11
of the LLP Law.
(2) In this Article –
“limited liability partnership”
means a limited liability partnership as defined in the LLP Law;
“LLP Law” means the Limited Liability Partnerships (Jersey)
Law 2017.
6 Exemption in respect of
Viscount
The Viscount is exempt from doing anything, in respect of an entity,
that is required to be done under the following provisions of the Law –
(a) Article 4 (which
requires certain information to be provided to the Commission);
(b) Article 5 (which
requires annual confirmation statements to be provided to the Commission);
(c) Article 6 (which
requires the appointment of a nominated person);
(d) Article 7 (which
requires a nominated person to provide information to the Commission).
7 Variation in respect of
state-owned entities
An entity with a state owner is exempt from providing –
(a) beneficial owner information
under Article 4(1)(a) of the Law, or under Article 4(3) in relation
to Article 4(2)(b) of the Law, if it instead provides the following in
relation to the senior official of its state owner –
(i) the senior official’s name,
(ii) the senior official’s
contact details;
(b) beneficial owner
information under Article 5(1).
8 Variation in respect of
entities wholly owned by entities or organisations listed on a regulated market
An entity that is wholly-owned by another entity or an organisation
(the “parent entity or organisation”), where the parent entity or organisation is
listed on a regulated market, is exempt from providing –
(a) beneficial owner
information under Article 4(1)(a) of the Law or under Article 4(3) in
relation to Article 4(2)(b) of the Law, if it instead provides the
following in relation to the parent entity or organisation –
(i) the parent entity or organisation’s name,
(ii) its registered office
address,
(iii) its registration number,
(iv) its jurisdiction of
incorporation,
(v) the regulated market on which it is listed,
(vi) a website address on
which is published the parent entity or organisation’s most recent accounts,
(vii) the parent entity or
organisation’s exchange listing ID;
(b) beneficial owner
information under Article 5(1) of the Law, if it instead confirms that the
information held by the Commission under sub-paragraph (a)(i) – (vii) is
correct.
9 Variation in respect of
an entity listed on a regulated market
An entity that is listed on a regulated market is exempt from –
(a) doing anything that is
required to be done under Article 4(1)(a) of the Law, or under
Article 4(3) in relation to Article 4(2)(b) of the Law, if the entity
instead provides –
(i) its registered office address,
(ii) confirmation that it is
listed on a regulated market,
(iii) a website address on
which its most recent accounts are published, and
(iv) its exchange listing ID;
(b) providing beneficial
owner information under Article 5(1) of the Law if it instead confirms
that the information held by the Commission under sub-paragraph (a)(i) –
(iv) is correct.
10 Variation in respect of
entity owned by regulated entity incorporated or registered in Jersey
(1) This Article applies to an entity
(“entity A”) that is wholly owned or controlled by another entity
(“entity B”) that is registered under the Financial Services (Jersey) Law 1998 to carry out business
classified under the Financial Services (Financial Service Business)
(Jersey) Order 2009 as H, L or OA in relation to entity A.
(2) Entity A is exempt from –
(a) providing beneficial
owner information in respect of the individuals controlling entity B under
Article 4(1)(a) of the Law, or under Article 4(3) in relation to
Article 4(2)(b) of the Law, if it instead provides –
(i) the name of entity B, and
(ii) entity B’s
registered number;
(b) providing beneficial
owner information under Article 5(1) of the Law, if it instead confirms
that the information provided in sub-paragraph (a)(i) and (ii) is correct
and complete.
11 Exemption from fee for
charities
A charity registered under the Charities (Jersey) Law 2014 is exempt from payment of
any fee under Article 7(1)(b) of the Law.
12 Citation and commencement
This Order may be cited as the Financial Services (Disclosure and
Provision of Information) (Jersey) Order 2020 and comes into force on 6th
January 2021.