Money Laundering (Amendment No.2) (Jersey) Order 2008

Information about the publication of Ministerial Decisions

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision
providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made (31/10/2008) to make the Money Laundering (Amendment No.2) (Jersey) Order 2008 and that it should come into force on 7 November 2008

Decision Reference: MD-TR-2008- 0117
Decision Summary Title:	Draft Money Laundering (Amendment No. 2) (Jersey) Order 2008		Date of Decision Summary:	27 October 2008
Decision Summary Author:	Andrew Le Brun Director, International & Policy, Jersey Financial Services Commission		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	N/A		Person Giving Oral Report:	N/A
Written Report Title:	N/A		Date of Written Report:	N/A
Written Report Author:	N/A		Written Report : Public or Exempt?	N/A
Subject: Amendments to the Money Laundering (Jersey) Order 2008
Decision(s): The Minister made the Money Laundering (Amendment No. 2) (Jersey) Order 2008 and agreed that it should come into force on 7 November 2008 (7 days after it is made).
Reason(s) for Decision: § To set additional requirements that were dependent upon a change to Article 37 of the Proceeds of Crime (Jersey) Law 2008 (the “Proceeds of Crime Law”) – which has extended the scope of measures that may be provided for in an Order made by the Minister. § To promote a number of existing regulatory requirements to statutory requirements, so that such requirements apply to all persons that carry on a financial services business that is listed in Schedule 2 of the Proceeds of Crime Law. § To reflect changes to reporting obligations that are set in the Drug Trafficking Offences (Jersey) Law 1988, Proceeds of Crime Law, and Terrorism (Jersey) Law 2002. § To introduce a number of provisions that are now features of European legislation. § To address a number of matters that have been highlighted by industry and the Island’s ongoing preparation for its forthcoming assessment by the International Monetary Fund.
Resource Implications: None, though requirements to report to the Joint Financial Crimes Unit (the “JFCU”) using a standard template and to provide additional information that is related to such a report at the request of the JFCU will assist that Unit in the analysis and dissemination of intelligence that it receives.
Action required: To notify the Publications Editor, States Greffe, immediately the Order is made.
Signature:		Position: Senator T A Le Sueur, Minister for Treasury and Resources
Date Signed: 31 October 2008		Date of Decision: 31 October 2008