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STATES OF JERSEY
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STATES BUSINESS PLAN 2006 – 2010 (P.151/2005): AMENDMENT (P.151/2005 AMD.) – COMMENTS
Presented to the States on 6th September 2005 by the Policy and Resources Committee
STATES GREFFE
COMMENTS
Whilst the Policy and Resources Committee opposes the amendment as drafted, it has sympathy for the intent to ensure that individual consumer should have an easy cost effective remedy to dispute resolution with financial situations.
The Committee believes that it would be inappropriate to commit scarce law drafting time until the States has considered and approved the most effective means of supporting consumers. It therefore suggests that the Economic Development Minister should be asked to bring a report to the States in early 2006 to allow the States to determine how they would wish to proceed. Once the States has decided the way forward, law drafting priorities could be reviewed or depending on the scale of the change, time could be made available as a priority in 2007.
The Committee believes that the Limited Partnership Law should be included in the 2006 legislation programme, as this will provide additional flexibility to the finance industry in an important area of business, and will thereby help to maintain the Island's competitiveness.