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Companies (Uncertificated Securities) (Amendment) (Jersey) Order 200-.

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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A decision made (02/03/2009) regarding: Companies (Uncertificated Securities) (Amendment) (Jersey) Order 200-.

Decision Reference:     MD-E-2009-0032 

Decision Summary Title :

Companies (Uncertificated Securities) (Amendment) (Jersey) Order 200-

Date of Decision Summary:

26 February 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title :

Companies (Uncertificated Securities) (Amendment) (Jersey) Order 200-

Date of Written Report:

26 February 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:    

Companies (Uncertificated Securities) (Amendment) (Jersey) Order 200-

Decision(s):  

The Minister made the Companies (Uncertificated Securities) (Amendment) (Jersey) Order 2009 (”the Order”)

Reason(s) for Decision: 

The Companies (Uncertificated Securities) (Jersey) Order 1999 (“the 1999 Order”) permits a Jersey company’s uncertificated shares to be traded on the computer system of operators recognised by the Jersey Financial Services Commission (“the Commission”) only where the operator has already been approved by a competent authority.  The Order widens the definition of a ‘competent authority’ to include bodies authorised under the laws of non-EU and non-British Isle countries (where that country is recognised by the Commission for this purpose).    

Resource Implications: 

There are no measurable financial or manpower costs for the States.

Action required: 

The Minister to sign, date and seal the Order and the Order to be returned to the States Greffe without delay.

Signature: Senator A.J.H.Maclean 

Position: Minister for Economic Development

Date Signed: 

Date of Decision (If different from Date Signed): 

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