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Orders to Prescribe Conditions for the Appointment of a Manager under Financial Services Regulatory Laws.

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

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A decision made (11/11/2008) regarding: Orders to Prescribe Conditions for the Appointment of a Manager under Financial Services Regulatory Laws.

Decision Reference:   MD-E-2008-0216 

Decision Summary Title:

Orders to Prescribe Conditions for the Appointment of a Manager Under Financial Services Regulatory Laws.

Date of Decision Summary:

11 November 2008

Decision Summary Author:

James Mews,

Finance Industry Development

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Orders to Prescribe Conditions for the Appointment of a Manager Under Financial Services Regulatory Laws.

Date of Written Report:

11 November 2008

Written Report Author:

James Mews,

Finance Industry Development

Written Report :

Public or Exempt?

Public

Subject:

Collective Investment Funds (Appointment of a Manager) (Jersey) Order 200-

Banking Business (Appointment of a Manager) (Jersey) Order 200-

Insurance Business (Appointment of a Manager) (Jersey) Order 200-

Financial Services (Appointment of a Manager) (Jersey) Order 200-

Decision(s):

The Minister made the following Orders –

(a) Collective Investment Funds (Appointment of a Manager) (Jersey) Order 2008;

(b) Banking Business (Appointment of a Manager) (Jersey) Order 2008;

(c) Insurance Business (Appointment of a Manager) (Jersey) Order 200-; and

(d) Financial Services (Appointment of a Manager) (Jersey) Order 200-.

Reason(s) for Decision:

  • To prescribe the circumstances in which the powers under the respective primary Laws may be exercised for a person to be appointed to manage the affairs of a person carrying on business that is subject to regulation under that Law; and by such prescription to give effect to those powers.
  • To enhance the ability of the Commission to exercise its function to supervise financial services provided in or from within Jersey.

Resource Implications: 

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

Action required: 

The Minister to sign, date and seal the Orders.

Department to return the sealed Orders to the States Greffe immediately.

Signature:  Senator P.F.C.Ozouf 

Position: Minister for Economic Development 
 

Date Signed: 

Date of Decision:       

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