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Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201-

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A decision made on 13 June 2014:

Decision Reference: MD-C-2014-0116

Decision Summary Title :

Draft Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201-

Date of Decision Summary:

11 June 2014

Decision Summary Author:

 

Officer, Financial Services

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 Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201-

Date of Written Report:

11 June 2014

Written Report Author:

Officer, Financial Services

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:

 

Approval of the draft Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201- for lodging.

 

Decision(s):

 

The Deputy Chief Minister approved the draft Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201- (the “Appointed Day Act”) for lodging and directed that the documents should be lodged au Greffe for debate by the States at the earliest opportunity. 

 

Reason(s) for Decision:

 

The Appointed Day Act will bring into force the Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 in whole on 4 August 2014. This date has been considered in relation to the upcoming assessment for AML/CFT compliance of Jersey by Moneyval commencing 1 September 2014 and consideration has also been given to an early appointed day act to hopefully allow a rapid extension of the Palermo and Strasbourg Conventions to Jersey.

 

Resource Implications:

 

There are no resource implications as a result of this decision.

 

Action required:

 

That the draft Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201- be lodged au Greffe for debate by the States at the earliest opportunity.

Signature:

 

 

 

Senator Ian Le Marquand

Position:

 

 

 

Deputy Chief Minister of Jersey

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201-

 

FINANCIAL SERVICES

Chief Minister’s Department

5TH Floor, Cyril Le Marquand House, The Parade

St Helier, Jersey, JE4 8UL

Tel: +44 (0)1534 440449

 

 

 

 

Written Report - Draft Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (Appointed Day) Act 201- (the “Appointed Day Act”)

 

  1. The Deputy Chief Minister will be aware that the Proceeds of Crime and Terrorism (Miscellaneous Provisions) (Jersey) Law 2014 (“the Law”) was adopted by the States on 18 February 2014, sanctioned by Order of Her Majesty in Council on 28 April 2014 and Registered in the Royal Court on 8 May 2014.

 

  1. The Deputy Chief Minister will also be aware of the draft Proceeds of Crime and Terrorism (Tipping Off-Exceptions) (Jersey) Regulations 201- (“the draft Regulations”) that were lodged au Greffe by the Chief Minister on 3 June 2014 and are scheduled for debate by the States at the meeting commenting 14 July 2014.

 

  1. The Financial Crime Strategy Group (who advises the Chief Minister on matters relating to Financial Crime) has considered the appropriate date for the Law to be brought into force and has recommended to the Chief Minister that 4 August 2014 is the appropriate date. This date has been considered in relation to the upcoming assessment of Jersey for Anti Money Laundering and Countering the Financing of Terrorism compliance by Moneyval commencing 1 September 2014. Consideration has also been given to an early appointed day act to hopefully allow a rapid extension of the Palermo and Strasbourg Conventions to Jersey.

 

  1. The Deputy Chief Minister is requested to lodge the Appointed Day Act in respect of the Law to be debated immediately after the draft Regulations, if they are adopted by the States, on 14 July 2014.

 

Financial Services

11 June 2014

 

 

 

1

 

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