Proceeds
of Crime (Provision of Information by Trustees) (Jersey) Order 2021
1 Interpretation and application
(1) In
this Order –
“beneficial ownership”, in relation to a trust,
means –
(a) a natural person who is a
beneficiary of the trust; or
(b) the ultimate owner or
controller of a beneficiary of the trust, if that beneficiary is not a natural
person;
“one-off transaction” has the meaning given to
it by Article 4 of the Money
Laundering (Jersey) Order 2008;
“relevant business” means –
(a) a financial services
business, as defined in Article 2 of the Financial
Services (Jersey) Law 1998; or
(b) a business of a type
listed in Part B of Schedule 2 to the Proceeds of
Crime (Jersey) Law 1999.
(2) This
Order applies to a trustee of an express trust, if –
(a) that express trust is a
Jersey trust; or
(b) that express trust is a
foreign trust, if –
(i) the trustee is resident
in Jersey,
(ii) any trust property of
that foreign trust is situated in Jersey, or
(iii) administration of any
trust property of that foreign trust is carried on in Jersey.
(3) In
paragraph (2) –
“express trust” has the meaning given to it by
Article 1(1) of the Financial
Services (Jersey) Law 1998;
“Jersey trust” has the
meaning given to it by Article 1(1) of the Trusts (Jersey) Law 1984; and
“foreign trust” has the meaning given to it by
Article 1(1) of the Trusts (Jersey)
Law 1984.
2 Trustee must declare status
A person who is acting as
a trustee of a trust must state that that person is acting in his or her
capacity as trustee of that trust (and not in that person’s personal capacity) –
(a) when forming a business
relationship with a relevant business; or
(b) when conducting a one-off
transaction with a relevant business.
3 Information provided by trustees
(1) Despite any provision of any trust
document, or any other enactment, a trustee of a trust –
(a) must provide to a competent
authority any information requested by that competent authority; and
(b) may provide to a relevant
business with which the trust has a business relationship, on request by that
business, information regarding –
(i) the beneficial ownership
of the trust,
(ii) the settlor, protector or enforcer of the trust, if any, or
(iii) the assets of the trust
that are to be held or managed by the relevant business under the terms of the
business relationship.
(2) A request for information by an external
competent authority must be made via a competent authority under an appropriate
international co-operation request.
(3) On receipt of a request for information
from an external competent authority under paragraph (2), a competent
authority may request all or any of that information from the trust.
(4) In this Article –
“competent authority” means –
(a) an inspector appointed
under Article 128 of the Companies (Jersey) Law 1991; or
(b) any person or body having
supervisory, regulatory or disciplinary functions in
relation to financial services, any profession or any area of commercial
activity in Jersey;
“external competent authority” means any person or body
having supervisory, regulatory or disciplinary
functions in relation to financial services, any profession or any area of
commercial activity outside Jersey.
4 Citation and commencement
This Order may be cited as the Proceeds of Crime (Provision of
Information by Trustees) (Jersey) Order 2021 and comes into force on the same
day as Article 2 of the Proceeds of
Crime (Amendment No. 4) (Jersey) Law 2021.