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States of Jersey Law 2005: Delegation of Functions – Minister for External Relations and Financial Services – Delegation of Financial Services

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STATES OF JERSEY

STATES OF JERSEY LAW 2005: DELEGATION OF FUNCTIONS – MINISTER FOR EXTERNAL RELATIONS AND FINANCIAL SERVICES – DELEGATION OF FINANCIAL SERVICES

Presented to the States on 24th November 2022

by the Minister for External Relations and Financial Services

STATES GREFFE

2022  R.162

2

REPORT

On 18th November 2022, the Minister for External Relations and Financial Services made a Ministerial Decision delegating certain of his functions under Articles 28, 30 and 30A of the States of Jersey Law 2005 (see Decision reference MD-ER-2022-736., available at www.gov.je).

The Assistant Minister for External Relations and Financial Services, Deputy I.J. Gorst of St. Mary , St. Peter and St. Ouen , will be delegated the full range of functions and responsibilities relating to financial services by the Minister for External Relations and Financial Services.

This delegation will remain in effect until 31st January 2023 pending further  the ongoing reviews of the lines of accountability between Government Departments and Ministers who have political responsibility for specific areas.

As  set  out  in  the  Chief  Minister's  100  Day  Plan  and  in  P.52/2022  Ministerial Responsibilities, changes to internal Government structures are being considered in order to provide greater clarity and improved accountability across departments and the functions they discharge. In the meantime, Deputy Gorst will act as the Minister for Financial Services' in addition to Treasury and Resources Minister.

R.162/2022

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Legislation: (In alphabetical order)

Alternative Investment Funds (Jersey) Regulations 2012

Bank (Recovery and Resolution) (Jersey) Law 2017

Banking Business (Jersey) Law 1991

Bankruptcy (Désastre) (Jersey) Law 1990

Charities (Jersey) Law 2014

Collective Investment Funds (Jersey) Law 1988

Companies (Jersey) Law 1991

Companies (Takeovers and Mergers Panel) (Jersey) Law 2009 Control of Borrowing (Jersey) Law 1947

Dormant Bank Accounts (Jersey) Law 2017

EU Legislation (Payment Services - SEPA) (Jersey) Regulations 2015 Financial Services (Disclosure and Provision of Information) (Jersey) Law 2020

Financial Services Commission (Jersey) Law 1998

Financial Services (Jersey) Law 1998

Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 Incorporated Limited Partnerships (Jersey) Law 2011

Insurance Business (Jersey) Law 1996

Limited Liability Partnerships (Jersey) Law 2017

Limited Partnerships (Continuance) (Jersey) Regulations 2020 Limited Partnerships (Jersey) Law 1994

Non-Profit Organizations (Jersey) Law 2008

Proceeds of Crime (Amendment No. 6) (Jersey) Law 2022 (enacted but relevant provision not yet in force)

Proceeds of Crime (Jersey) Law 1999

Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 Registration of Business Names (Jersey) Law 1956

Security Interests (Jersey) Law 2012

Separate Limited Partnerships (Jersey) Law 2011

Delegate:

Deputy I.J. Gorst of St. Mary , St. Ouen and St. Peter

Functions delegated:

All Ministerial functions under the legislation listed above.

Scope of delegation:

Full delegation in line with the requirements of the appropriate legislation. To include signing of Ministerial Decisions and representing the Government externally in respect of financial services matters here necessary.

R.162/2022