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Limited Liability Companies (Jersey) Law 2018: Amendments: Law Drafting request

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.

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A decision made on 07 November 2019

MINISTERIAL DECISION REFERENCE:    MD-ER-2019-0060

DECISION SUMMARY TITLE:  Law drafting request for amendments to the Limited Liability Companies (Jersey) Law 2018

DECISION SUMMARY AUTHOR:

Lead Policy Advisor, Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  Amendment to the Limited Liability Companies (Jersey) Law 2018

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

 

IS THE REPORT PUBLIC OR EXEMPT 

Exempt

DECISION AND REASON FOR THE DECISION:

The Minister for External Relations approved the report and authorised the Financial Services and Digital Economy department to instruct the principal legislative drafter to draft legal instruments to bring limited liability companies into operation in Jersey. These will include specifically:  

  1. Amendments to the Limited Liability Companies (Jersey) Law 2018 (the ‘LLC Law’); and
  2. Amendments to existing legislation required in order to bring into force the LLC Law.

The amendments to the LLC Law will address a number of clarifications in the Law, provide for consistency between existing provisions and provide clarity as to the treatment of LLCs. The amendments to existing legislation will ensure the functionality of the LLC Law.

RESOURCE IMPLICATIONS:

Law drafting time will be required. There are no other resource implications for the Government of Jersey.

ACTION REQUIRED:

That law drafting instructions be submitted by the Financial Services and Digital Economy Department.  

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

MINISTER FOR EXTERNAL RELATIONS

 

 

DATE SIGNED

EFFECTIVE IMMEDIATELY

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