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Collective Investment Funds (Certified Funds - Prospectuses) (Jersey) Order 2012

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 on 17 May 2012:

Decision Reference: MD-E-2012-0056

Decision Summary Title :

Collective Investment Funds (Certified Funds - Prospectuses) (Jersey) Order 2012 made pursuant to the provisions of the Collective Investment Funds (Jersey) Law 1988

Date of Decision Summary:

16 May 2012

Decision Summary Author:

Director, Finance Industry Development

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

Written Report

Title :

Collective Investment Funds (Certified Funds - Prospectuses) (Jersey) Order 2012

Date of Written Report:

16 May 2012

Written Report Author:

Director, Finance Industry Development

Written Report :

Public or Exempt?

Public

 

Subject:

 

Approval of the Order drawn pursuant to the Collective Investment Funds (Jersey) Law 1988.

 

Decision(s):

 

The Minister approved and made the following Order pursuant to the Collective Investment Funds (Jersey) Law 1988:

 

Collective Investment Funds (Certified Funds – Prospectuses) (Jersey) Order 2012 (“the Prospectuses Order”).

 

Reason(s) for Decision:

 

Articles 14 and 20 of the Collective Investment Funds (Jersey) Law 1988 gives the power to the Minister for Economic Development (on the recommendation of the Jersey Financial Services Commission) to prescribe matters relating to Collective Investment Funds by Order.

 

The Jersey Financial Services Commission has recommended that the Minister for Economic Development prescribe the fees as set out in the Prospectuses Order in order to match international standards relating to funds.

 

Resource Implications:

 

There are no financial or manpower implications arising as a result of this decision.

 

Action required:

 

The Minister to sign, date and seal the Prospectuses Order and for it to be returned to the States Greffe without delay and a request made to the Greffier of the States to arrange for the Order to be notified to the States.

 

Signature:

 

 

Senator AJH Maclean

Position:

 

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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