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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Financial Services Commission (Jersey) Law 1998: Law drafting instructions for an Order under Article 21G

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.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them 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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The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 9 April 2025:

Decision Reference:  MD-ER-2025-263

Public

Subject: Instructions to prepare an Order under Article 21G Financial Services Commission (Jersey) Law 1998

 

Report Title: Instructions to prepare an Order under Article 21G Financial Services Commission (Jersey) Law 1998

Exempt (Article 35)

Decision(s):

The Minister for External Relations authorised the Financial and Professional Services Directorate, Department for the Economy, to instruct the Principal Legislative Drafter to draft legal instruments to prepare an Order under Article 21G of the Financial Services Commission (Jersey) Law 1998.

Reason for Decision(s):

The Minister for External Relations approved the submission of law drafting instructions for the preparation for an Order under Article 21G (4) and (5) to enable monies levied by the Jersey Financial Services Commission (JFSC) as penalties to be paid to the States of Jersey.  It is intended for such monies to be dedicated to the Financial and Professional Services budget, to support the growth and competitiveness of the financial and professional services industry in Jersey.

Resource Implications: Legislative drafting resource is required.

 

Action Required: Principal Legislative Drafter to be requested to draft legislation.

Signature:

 

 

Signed By: Minister for External Relations

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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