| Department | Department for the Economy |
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| Start date | 07/10/2024 |
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| End date | 15/11/2024 |
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| Type of consultation | White paper |
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| Deadline for comments | 15/11/2024 |
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About the consultation
We would like your views on draft legislation which will give effect to the transfer and changes to Jersey Bank Depositors Compensation Scheme.
This consultation follows the consultation in feburary 'Transfer of the Jersey Bank epositors Compensation Scheme' on the planned transfer of the functions of the Jersey Bank Depositors Compensation Board (the DCS Board) to the Jersey Resolution Authority (the JRA), as well as necessary improvements to the legislation underpinning the scheme.
As highlighted in the February consultation, at this stage we are not consulting on adjustments to the protected deposit value, adjustment to the liability cap, or extension of the eligible depositor definition.
Draft Bank (Recovery and Resolution) (Jersey) Amendment Law 202-
Consultation: Transfer of the Jersey Bank Depositors Compensation Scheme – Amendment
Timeline
Whereas previously Government intended to transfer the DCS Board's functions by 1 January 2025, this timeline is no longer possible and has been extended to the 1 July 2025 to allow time for consultation on the
Draft Bank (Recovery and Resolution) (Jersey) Amendment Law 202- (Draft Law).
About the authorities
Should you wish to find out more about those authorities discussed within this consultation, please follow the links below.
Jersey Bank Depositors Compensation Scheme
Jersey Resolution Authority
How to submit comments to the consultation
Submit your responses to the following questions, which are set out in the
consultation paper:
-
Do you have any comments on the specific provisions for the Scheme in the new Part 7A in
the Draft Law?
- Do you have any other comments related to other Articles within
the Draft Law?
- Do you have any comments relating to new provisions for the Resolution Framework?
- Do you have any comments relating to these additional provisions or note other provisions which may be necessary to consider?
Responses to the questions above can be submitted:
- email to: Economy@gov.je with DCS in the subject line, and for the attention of Thomas Wright, or
- writing to:
FAO Thomas Wright
DCS Consultation
Department for the Economy
19-21 Broad Street
St Helier
Jersey
JE2 3RR
Data Protection
The information you provide will be processed in compliance with the Data Protection (Jersey) Law 2018.
Find more information in the Department for the Economy privacy notice.
The Government of Jersey may quote or publish responses to this consultation but will not publish the name and addresses of individuals without consent.
Types of publishing may include:
- sending to other interested parties on request
- sending to the Scrutiny Office
- quoting in a published report
- reporting in the media
- publishing on the Government website
- listing on a consultation summary
Confidential responses will still be included in any summary of statistical information received and views expressed.
Under the Freedom of Information (Jersey) Law 2011, information submitted to this consultation may be released if a Freedom of Information request requires it, but no personal data may be released.
gov.je