Draft Security Interests (Jersey) Law 200- ("the draft Law"): Consultation White Paper.

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A decision made (11/06/2009) regarding: Draft Security Interests (Jersey) Law 200- ("the draft Law"): Consultation White Paper.

Decision Reference: MD-E-2009-0093
Decision Summary Title :	Consultation on the draft Security Interests (Jersey) Law 200-		Date of Decision Summary:	08 June 2009
Decision Summary Author:	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 :	Consultation on the draft Security Interests (Jersey) Law 200-		Date of Written Report:	08 June 2009
Written Report Author:	Finance Industry Development		Written Report : Public or Exempt?	Public
Subject: Draft Security Interests (Jersey) Law 200- (“the draft Law”): consultation.
Decision(s): The Minister for Economic Development approved the consultation white paper concerning the draft Law and determined that it should be published by the Department and presented to the States Assembly.
Reason(s) for Decision: The consultation white paper invites comments on the draft Law, which would replace the existing Security Interests (Jersey) Law 1983 to provide Jersey with a simplified, modern, efficient legal regime for the creation, perfection, priority, transfer and enforcement of consensual security interests in intangible movables and their proceeds. The draft Law is designed to give Jersey one of the most up-to-date legal regimes in this field and thereby to enhance Jersey’s attractiveness both to local and to foreign investors.
Resource Implications: No measurable cost or manpower implications arise.
Action required: The Minister approved the consultation white paper and the Greffier was requested to present it to the States Assembly. The Finance Industry Executive to take such steps as are necessary for it to be published by the Department, including uploading the document to the departmental website following presentation to the States.
Signature: Senator A.J.H.Maclean		Position: Minister for Economic Development
Date Signed:		Date of Decision (If different from Date Signed):