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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Draft Companies (Annual Returns - Additional Charge (Jersey) Regulations 200-.

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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A decision made (01/08/2008) regarding: Draft Companies (Annual Returns - Additional Charge (Jersey) Regulations 200-.

Decision Reference:    MD-E-2008-0154 

Decision Summary Title :

Draft Companies (Annual Returns – Additional Charge (Jersey) Regulations 200-

Date of Decision Summary:

30 July 2008

Decision Summary Author:

James Mews

Finance Industry Development

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Draft Companies (Annual Returns – Additional Charge (Jersey) Regulations 200-

Date of Written Report:

30 July 2008

Written Report Author:

James Mews

Finance Industry Development

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject: 

Approval of the Draft Companies (Annual Returns – Additional Charge (Jersey) Regulations 200-   (“the Regulations”) for lodging.

Decision(s):

The Minister approved the draft Regulations, the attached report and for the documents to be lodged au Greffe by 4 August 2008 so as to be debated by the States on 16 September 2008.

Reason(s) for Decision:

The Regulations are required as a result of a change in the law in order to maintain existing income to the Treasurer of States from the Jersey Financial Services Commission. 

These Regulations specify the amount (£115) of the annual return fee that is to be paid by a company, collected by the Jersey Financial Services Commission and remitted to the Treasurer of the States.

 
Resource Implications:

It is not intended that there be any financial cost for the States. However because the method of collection is based on an estimation of the number of companies in existence in 2009 provided by the Financial Services Commission, the amount remitted will vary depending on the actual number of companies and may be positive or negative.  It is intended that this will be reviewed in 2009 once more knowledge about the impact of the 0/10 regime is known and the fees reviewed in consultation with industry. 

There are no manpower implications for the States.

Action required:

To approve the Regulations and the attached report and for the documents to be lodged au Greffe so as to be debated by the States on 16 September 2008.

Signature:  Senator P.F.C.Ozouf 

Position:  Minister

Date Signed: 

Date of Decision (If different from Date Signed): 

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