Draft Proceeds of Crime (Amendment of Schedule 2) (Jersey) Regulations 200-

Information about the publication of Ministerial Decisions

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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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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A decision made (25.07.08) to agree to lodge the draft Proceeds of Crime (Amendment of Schedule 2) (Jersey) Regulations 200-

Decision Reference: MD-TR-2008-0083
Decision Summary Title:	Draft Proceeds of Crime (Amendment of Schedule 2) (Jersey) Regulations 200-		Date of Decision Summary:	25 July 2008
Decision Summary Author:	Andrew Le Brun Director, International & Policy, Jersey Financial Services Commission		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Proposals to amend the list of business activities to which the Money Laundering (Jersey) Order 2008 applies		Date of Written Report:	23 July 2008
Written Report Author:	Andrew Le Brun Director, International & Policy, Jersey Financial Services Commission		Written Report : Public or Exempt?	Public
Subject: Amendments to Schedule 2 of the Proceeds of Crime (Jersey) Law 1999 (“Schedule 2”)
Decision(s): The Minister agreed to lodge the Draft Proceeds of Crime (Amendment of Schedule 2) (Jersey) Regulations 200- and instructed officers to make the necessary arrangements for the Regulations to be lodged au Greffe at the earliest opportunity with a request for debate on 8 September 2008.
Reason(s) for Decision: § To provide greater clarity on application of the Money Laundering (Jersey) Order 2008 (“Money Laundering Order”) to fund products. § To address recent changes made to the regulatory framework for fund products. § To recognise some additional activities that present a lower risk of money laundering and which may be excluded from Schedule 2. § To clearly set out the application of the Money Laundering Order to property transactions affected by share transfer. § To correct some anomalies in Schedule 2.
Resource Implications: None.
Action required: Attached proposition and report to be sent to the Publications Editor of the Greffe by Business Manager and request that it be lodged at the earliest opportunity with a request for debate on 8 September 2008
Signature:		Position: Senator T A Le Sueur, Minister for Treasury and Resources
Date Signed: 25th July		Date of Decision: 25th July