Approval of the Bankruptcy (Desastre) (Pensions) (Jersey) Regulations 2006.

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A decision made (05/10/2006) regarding Approval of the Bankruptcy (Desastre) (Pensions) (Jersey) Regulations 2006.

Subject:	Approval of the Bankruptcy (Désastre) (Pensions) (Jersey) Regulations 2006
Decision Reference:	MD-E-2006-0173		Exempt clause(s):
Type of Report: (oral or written)	Written		Person Giving Report (if oral):	n/a
Telephone or e-mail Meeting?	n/a		Report File ref:
Written report – Title	Approval of the Bankruptcy (Désastre) (Pensions) (Jersey) Regulations 2006
Written report – Author (name and job title)	Paul de Gruchy, Director Finance Industry Development
Decision(s): To approve the Regulations and have the Regulations lodged au greffe for debate at the earliest opportunity.
Reason(s) for decision: The Regulations will permit a bankrupt to retain certain benefits (provided they are not excessive) that he may have accrued under pension arrangements. This is in accordance with the public policy that people should be encouraged to make their own pension provisions, and that contributions that people make to pensions should not be viewed – by either debtors or creditors - as being available to meet day to day liabilities.
Action required: The Director, Finance Industry Development to advise the Publications Editor and the Greffier of the States to lodge the Regulations at the earliest opportunity.
Signature: Senator P.F.C.Ozouf (Minister)		Date of Decision: 5 October 2006