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Companies (Jersey) Law 1991: Amendments: Law drafting instructions

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.

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  • 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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 18 September 2024:

Decision Reference:  MD-ER-2024-674

Public

Subject: Instructions for amendments to the Companies (Jersey) Law 1991

 

Report Title: Instructions for amendments to the Companies (Jersey) Law 1991

Exempt (Article 35)

Decision(s):

The Minister for External Relations approved the report and authorised the Financial Services Unit, Department for the Economy, to instruct the Principal Legislative Drafter to draft legal instruments to amend the Companies (Jersey) Law 1991 (the Law) and amendments to other legislation relevant to companies in Jersey.

Reason for Decision(s):

Updating the Companies Law at this point will enable Jersey to maintain its position as a leading jurisdiction for corporate transactions. The proposed amendments are largely viewed as maintenance, clarification and modernisation and to maintain competitiveness rather than a wholesale restatement or significant policy changes

Resource Implications: There are new financial and/or manpower implications. Further detail is included in the detail section of the report.

 

Action Required: Principal Legislative Drafter to be requested to draft legislation.

Signature:

 

 

Signed By: Minister for External Relations

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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