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Dear Sirs,
I understand that you are seeking views in connection with the above scheme which I believe is necessary for the Islands long term future.
One very important aspect of any scheme concerns the status of small corporate accounts which appear to lack any coverage in respect of any form of protection either under current or proposed legislation. Under current Pension legislation Jersey has enabled a large number of residents to set up private pension arrangements which are in Corporate names and all cash balances under these arrangements are therefore in Corporate designated accounts .As in essence this is the safest form of investment under the current pension legislation it is slightly incongruous that there is no security for these pension monies which are after all for Jersey resident pension funds under the proposed legislation. In my opinion therefore I would suggest that some consideration is given to extending the Scheme in whatever format is agreed to cover Pension arrangements.
Please let me know if my understanding of the situation is incorrect. Many thanks
John Conlon