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Alternative Investment Funds (Amendment of Regulations No. 2) (Jersey) Order 2015

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.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • 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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 14 July 2015:

Ministerial decision reference    MD-C-2015-0083

Decision summary title  Alternative Investment Funds (Amendment of Regulations No. 2) (Jersey) Order 201-

Decision summary author

Financial Services Unit

Is the decision summary public or exempt?  

Public

Report title  Alternative Investment Funds (Amendment of Regulations No. 2) (Jersey) Order 201-

Report author or name of

person giving report

Financial Services Unit

Is the report public or exempt?

Public

Decision and reason for the decision

The Assistant Chief Minister made the Alternative Investment Funds (Amendment of Regulations No. 2) (Jersey) Order 201- (the draft Order).

The draft Order amends the definition of “AIF” in the Alternative Investment Funds (Jersey) Regulations 2012 (the Regulations) to bring within that definition a limited partnership that is registered in England or Scotland under the Limited Partnerships Act 1907 provided such limited partnership meets the criteria for an AIF in Regulation 3(1) of the Regulations, satisfies certain conditions set out in the draft Order, and has elected to be an AIF and the Jersey Financial Services Commission has approved that election.

Resource implications

There are no resource implications for the States of Jersey as a result of this decision.

Action required

That the Assistant Chief Minister sign and seal the draft Order and it be returned to the States Greffe for immediate publication, and that the Greffier of the States be requested to arrange for the making of the draft Order to be notified to the States.

SIGNATURE:

 

 

SENATOR PHILIP FRANCIS CYRIL OZOUF

POSITION:

 

 

ASSISTANT CHIEF MINISTER OF JERSEY

 

 

Date signed

Effective date of the decision

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