Dormant Bank Accounts
(Jersey) Law 2017
A LAW to provide for the transfer, to
a fund, of balances in dormant accounts, and for the distribution of money in
that fund for charitable and other purposes, subject to a right to reclaim
those balances from the fund; and for connected purposes.
Commencement [see endnotes]
(1) In this
“account” has the meaning given by Article 2;
“account holder” or “holder” means, in
respect of an account, a person (whether or not an individual) –
whose name the account is held by a bank;
is beneficially entitled to the account or has the power to operate it or
control it; or
is entitled to demand repayment of an amount on the account;
“balance” has the meaning given by Article 3;
“bank” has the meaning given by Article 4;
“bankruptcy” has the meaning given by paragraph (2);
“dormant” has the meaning given by Article 5;
“function” includes a power and a duty;
“Fund” means the Jersey Reclaim Fund;
“Jersey Reclaim Fund” means the fund established under
“liquidator” means the person (whether the Viscount or
some other person) for the time being charged with the administration of the
property of a bank by virtue of its bankruptcy;
“Minister” means the Minister for
External Relations and Financial Services;
“Order” means an Order made by the Minister;
“prescribed” means prescribed by Order;
“relevant year” means the 12 month period starting
on 1st July in any calendar year and ending on 30th June immediately
(2) In this Law, and
without limiting the operation of Article 8 of the Interpretation (Jersey)
Law 1954, references to bankruptcy include –
winding up of an insolvent company under Article 155 of the Companies (Jersey)
Law 1991; and
process or state equivalent or similar to such winding up, or to bankruptcy
(within the meaning of the Interpretation (Jersey)
Law 1954), under the law of a jurisdiction outside Jersey.
(3) For the purposes of
this Law a person is still to be treated as the holder of an account despite
the fact that the whole or any part of the balance on the account has been
transferred to the Fund in accordance with this Law, and whether or not the
account is closed.
(1) For the purposes of
this Law, “account” means –
account held by a bank in Jersey as part of its activity of accepting deposits;
one or more of the following held by a bank in Jersey in its activity of
accepting safe custody –
(i) precious metal
(which includes bullion and coins but excludes jewellery),
stones (but not jewellery),
other things as may be prescribed;
prescribed account; or
other prescribed thing, facility or arrangement (whether or not in prescribed
(2) For the purposes of
this Law, an account referred to in paragraph (1)(a) includes a current
account and a deposit account.
(1) For the purposes of
this Law, the balance of an account at any particular time is the amount, or
value, owing to the holder of the account in respect of the account at that
time, after adjustments have been made for sums due to the bank in respect of
the account (such as any interest due or any fees or charges payable at that
time, including those payable under Article 14(1)).
(2) For clarity, a
reference to sums due to the bank is a reference to sums due according to the
terms and conditions of the account as in force from time to time and up to the
time referred to in paragraph (1).
(3) However, the balance of
an account at any particular time does not include such amount, or value, in
that account as is subject to a security interest to which the Security Interests (Jersey)
Law 1983 or the Security Interests (Jersey)
Law 2012 applies.
For the purposes of this Law, “bank” means –
(a) a person who is
registered under the Banking Business (Jersey)
Law 1991 and carries on deposit taking business within the meaning of that
(b) a person who, as part
of a business, takes safe custody (but not ownership) of anything referred to
in Article 2(1)(b); or
(c) a person prescribed for
the purposes of this Article.
(1) Subject to the
following provisions of this Article, an account is dormant at any time for the
purposes of this Law if –
account has been open throughout the period of 15 years ending at that
that period –
(i) no transactions
carried out in relation to the account were initiated by a holder of the
is no evidence held by the bank of the account holder’s having made any
contact with the bank in relation to that account by any means of
(2) An account referred to
in Article 2(1)(a) is dormant for the purposes of this Law even if the
period during which no transactions have been carried out or no contact has
been made under paragraph (1)(b) in relation to the account is less than
15 years if –
application is made to the Minister by the bank holding the account; and
Minister agrees to treat the account as dormant.
(3) An account is not to be
treated as dormant if at any time during the period mentioned in paragraph (1)(a) –
transaction initiated by a holder of the account was carried out or there is
evidence held by the bank of contact having been made under paragraph (1)(b)
in relation to another account in the name of the same person as that
first-mentioned account at the same bank; or
the terms and conditions of the account –
(i) withdrawals from
the account were not permitted, or
was a financial penalty or other disincentive for making a withdrawal from the
account and the financial penalty or other disincentive applied in all
(4) Where either of the
restrictions mentioned in paragraph (3)(b)(i) or (ii) applied to an
account but the account then continues without such a restriction, the account
is treated as having been opened only at the date on which the restriction
ceased to apply.
(5) For the purposes of paragraph (1)
an account that is closed before the time referred to in that paragraph is
treated as remaining open at that time if it has been closed otherwise than by,
or on the instructions of, a holder of the account.
(6) For the purposes of paragraph (3)(b)(ii),
“financial penalty or other disincentive” does not include a
reasonable fee for keeping the account or for carrying out a transaction on the
account, or a requirement to give a reasonable period of notice of a withdrawal
from the account.
The States may by Regulations amend any provision in this Part.
NOTICES, TRANSFERS AND CLAIMS
and transfer of dormant accounts
(1) Within 3 months of
the start of each relevant year a bank must, in relation to every account it
holds that falls dormant during the preceding relevant year –
the case of every account referred to in Article 2(1)(a) –
(i) give notice to
the Minister setting out the number of, and balances of, each dormant account,
notice of the balance of every dormant account to the person in whose name the
account is held at the person’s last address known to the bank, unless
the bank believes that writing to that address may lead to a risk of fraud; and
the case of every other account, where the bank has not renewed its
registration under the Banking Business (Jersey)
Law 1991 and consequently its registration has expired or will expire, give
notice to the Minister describing each account.
a description under paragraph (1)(b) includes a valuation the valuation
may be based on an estimate of the current value of the assets or the
requirements have been prescribed in relation to the form or contents of, or
information to be included in, a notice under paragraph (1), the notice
must comply with those requirements.
(4) When so requested in
writing by the Minister a bank must provide the Minister with further
information about dormant accounts held with the bank within 1 month of being
notified of that request.
(5) The bank must not make
a transfer of a dormant account under this Article if at any time prior to
30th November in the relevant year –
(a) a holder
of the account has notified the bank that the account is not dormant;
bank otherwise realises that the account is not dormant; or
Minister refuses to accept the transfer.
(6) The Minister may refuse
to accept the transfer under paragraph (5) if it appears to the Minister
reasonable to do so.
(7) Subject to Article 8
and to any Order made under Article 23(2)(f), by the end of December in
the relevant year a bank –
transfer to the Fund such part of the balance of a dormant account as is an
account referred to in Article 2(1)(a);
transfer to the Fund such part of the balance of a dormant account as is not an
account referred to in Article 2(1)(a) but is prescribed for the purposes
of this sub-paragraph; and
(c) may transfer
to the Fund such part of the balance of a dormant account as is a part to which
sub-paragraph (a) or (b) does not apply.
(8) In the case of accounts
that are dormant when this Article comes into force –
notice period in paragraph (1) runs from 3 months of the end of the relevant
year in which this Article comes into force;
(b) if a
bank so wishes and the Minister agrees, the bank may make a transfer of a
dormant account at any time up to the beginning of the period mentioned in
sub-paragraph (a) and this Law applies to the transfer as if the foregoing
provisions of this Article had been complied with.
(9) A bank must ensure that
a transfer is accompanied by such information as the Minister may prescribe.
(10) If for whatever reason a
transfer does not take place by the date mentioned in paragraph (7) it
must take place during the next period of 12 months following that date
without any further notice being given.
(11) If a bank fails, without
reasonable excuse, to comply with this Article, it is guilty of an offence and
liable to a fine of level 3 on the standard scale.
(12) The Minister may, by Order,
notice requirements in paragraph (1);
(b) paragraph (2)
to make the provision of valuations in respect of accounts mandatory.
metals, precious stones and foreign currencies
(1) If a dormant account
consists partly or wholly of things referred to in or prescribed under Article 2(1)(b)
those things must be sold at reasonable market value as at the time of the sale
and their value treated as, respectively, part or the whole of the balance of
the account (after subtracting the reasonable costs of the sale) before any
part of the balance of the account is transferred under Article 7.
(2) If a dormant account
consists in part or in whole of money in a currency other than the currency of
Jersey, that money must be converted to the currency of Jersey at the market
mid-rate on the day of the conversion (or at such other rate as is prescribed) immediately
before any part of the balance of the account is transferred under Article 7.
(3) Any payment out on a
claim as referred to in Article 11 must be made in the currency of Jersey.
further right against bank after transfer of balance to Fund
(1) After a transfer of any
part of the balance of a dormant account under Article 7, a holder of the
longer has any right against the bank to payment of the part of the balance;
against the Minister in respect of the Fund whatever right to payment of the
part of the balance as he or she would have had against the bank if the
transfer had not occurred.
(2) However, the Minister
may pay the account holder out of the Fund a sum greater than that which he or
she would be entitled to under paragraph (1)(b) if the Minister considers
it appropriate to do so, having regard to the amount of money held in the Fund
in the light of that additional payment out, other possible claims against the
Minister in respect of the Fund and any other matter that the Minister
(3) A part of a balance,
being a part transferred under Article 7, is no longer a debt owed, or
value due, by the bank.
(4) An account holder is
not entitled to interest on the part of the balance in respect of any period
during which the part is held in the Fund, except to the extent that the
Minister otherwise prescribes (though the bank remains liable in respect of any
interest that accrued before the transfer but was not in fact transferred).
(5) In relation to things
referred to in or prescribed under Article 2(1)(b) that have been sold under
Article 8(1) –
in paragraph (1)(b) or (7) entitles the holder of the account in which
those things were held to recover those things in specie;
in paragraph (7) entitles that holder to compensation over and above the
value of those things because they are no longer held in specie, or because they were so sold; and
reference in paragraph (1)(b) to the part of the balance (in so far as it
relates to the value of those things) means the sum realized by the sale
referred to in Article 8(1) after deduction of the reasonable costs of the
(6) Nothing in paragraph (1)(b)
or (7) entitles the holder of an account that consisted (before the part of the
balance of the account was transferred under Article 7) in whole or in
part of money in a currency other than the currency of Jersey to recover any
part of the balance –
that other currency; or
(b) at a
value calculated in terms of that currency as at any time other than the time
of the conversion of that other currency under Article 8(2).
(7) For the avoidance of
doubt, nothing in paragraph (1) or (3) affects –
liability of the bank to the account holder in respect of an amount, or value,
other than the part of the balance referred to in whichever paragraph; or
operation of Article 11.
(8) Subject to paragraph (4)
and to the extent that an Order prescribes otherwise, the terms on which a
balance was held by a bank apply to any part of it that is held in the Fund.
and duties of Minister in relation to Fund
(1) The Minister’s
responsibilities in relation to the Fund are limited to –
out of the Fund to meet claims in accordance with this Part;
management of the Fund in such a way as to enable the meeting of such of those
claims as it is prudent to expect;
management of the Fund in accordance with any requirement with regard to its
financial resources that is imposed on it by or under any enactment and to
defray the expenses of the administration of this Law;
distribution of money under Article 20, subject to sub-paragraphs (b)
and (c); and
that are incidental or conducive to, or otherwise connected with, any of the
above (including in particular the prudent investment of money held in the
(2) The Minister must prepare
an annual report on the operation of this Law in the preceding year and publish
it on a website that the Minister considers appropriate.
(3) Nothing in paragraph (1)
affects a bank’s duties referred to in Article 11.
11 Duties of bank in
relation to Fund
(1) Except as otherwise
provided by Order, a bank must do the following in relation to any part of a
balance, being a part that the bank has transferred to the Fund under this
the records that the bank has created or acquired relating to the relevant
dormant account and to any holder of that account;
any claim for payment of that part;
the amount that should be paid in respect of the claim;
who is entitled to that amount;
out the amount to the person so entitled;
with any written directions of the Minister given to the bank for the purposes
of this Part.
(2) Nothing in this Law
affects any duty of a bank to comply, in respect of the account and the claim,
with any law that imposes obligations on the bank in relation to taxation,
anti-money laundering or terrorist financing, or with any other obligation
imposed by law.
(3) The Minister may give
written directions to a bank for the purposes of this Part, which bank must
comply with such a direction.
(4) The Minister may by
Order make provision for the purposes of this Part by –
paragraph (1); and
or modifying the duties, liabilities, and rights, under this Part, of a
liquidator or other person who acts in relation to a bank in a case where the
bank has become bankrupt, has transferred any part of its deposit-taking
business or has ceased to trade.
(5) A reference in this
Article to payment of part of a balance includes payment of any amount of
interest that becomes due to the account holder, in relation to the part, as prescribed
under Article 9(4).
(6) If a bank fails,
without reasonable excuse, to comply with this Article, the bank is guilty of
an offence and liable to a fine of level 3 on the standard scale.
12 Bank to make
annual statements of repayments
(1) A bank must give to the
Minister, during the 3 months following the end of each relevant year,
written notice of the amounts that it has during that year –
out in accordance with Article 11(1)(f);
from the Minister under Article 13(1); and
(2) If a bank fails to
comply with this Article, it is guilty of an offence and liable to a fine of
level 3 on the standard scale.
13 Bank may recover
payment from Fund
(1) A bank may, by
application in writing to the Minister, claim quarterly from the Fund an amount
equal to the amount that the bank, in accordance with Article 11 and this
Article, has paid out on claims made to the bank.
(2) However, such an
application by a bank for payment from the Fund is not in accordance with this
Article in relation to any amount to the extent that –
amount paid out has been paid out by the bank on the claim by the account
holder more than 3 years before the application is made;
amount was paid out in error; or
application is not made in relation to the amount by such time as the Minister
may allow in particular circumstances.
(3) Such an application is
not in accordance with this Article unless it meets any prescribed
requirements, and those requirements may stipulate that the application –
made in respect of aggregates of amounts instead of individual amounts;
made at or in respect of any specified time or times; and
out the prescribed information.
(4) The Minister must pay
from the Fund any amount that the Minister is satisfied has been the subject of
an application made in accordance with this Article.
14 Fees and expenses
(1) A bank may deduct from
an account reasonable fees and expenses incurred in respect of carrying out its
functions under this Law to the extent provided for in terms and conditions
that are binding on the account holder.
(2) However, except as
provided for in paragraph (1), a bank is not entitled to deduct from any amount
transferred to, recovered from or to be paid from, the Fund, any amount in
respect of the bank’s costs or expenses in the performance of its
functions under this Law unless expressly provided for elsewhere under this Law.
15 Actions in cases
of default by bank
(1) Subject to the
following provisions of this Article, the operation of this Part is not
affected by the fact that a bank has become bankrupt, has transferred any part
of its deposit-taking business or has ceased to trade.
(2) If the Minister
believes that any function referred to in Article 11(1)(a) to (f) is
not being performed by or in respect of a bank, the Minister may perform the
(3) If the Minister
performs a function as referred to in paragraph (2), the Minister may
deduct from the Fund the Minister’s costs and expenses in the performance
of the function or may reduce payments out of the Fund by an amount not
exceeding those expenses.
(4) Where a
(a) is to
transfer any part of its deposit-taking business to another entity or move it
to another branch of the same bank, the person to whom that business is
transferred or moved must comply with paragraph (5);
(b) is to
cease to trade in Jersey, the bank must make arrangements to ensure compliance
with paragraph (5); or
become bankrupt, the liquidator must comply with the requirements of paragraph (5).
(5) The requirements
ensure that Article 11(1)(b) to (g) is complied with;
hold the records of the deposit-taking business of the bank and to make them
accessible from within Jersey,
for a period of 10 years beginning with the date of whichever
is the relevant event mentioned in paragraph (4).
(6) Any expenses of a
liquidator, whenever incurred, in complying with paragraph (5) have the
same priority –
the monies chargeable by the Viscount under Article 32(1)(a) of the Bankruptcy (Désastre)
(Jersey) Law 1990; and
the costs, charges and expenses payable under Article 165 of the Companies (Jersey)
Law 1991 in relation to a creditors’ winding up.
(7) In this Article
“liquidator” means the person (whether the Viscount, or some other
person) for the time being charged with the administration of the property of a
bank by virtue of its bankruptcy, including a person to whom the administration
has been delegated.
holder’s rights preserved on insolvency etc. of bank
If an account holder has a right to payment under this Part in
respect of any part of a balance, being a part transferred by a bank under this
Law, and –
(a) the bank becomes
bankrupt, has transferred any part of its deposit-taking business or has ceased
to trade; or
(b) for any reason the
liability that the bank would have to the account holder (but for the operation
of this Part) is extinguished or reduced,
the bankruptcy, transfer, cessation, extinction or reduction is, for
the purposes of this Part, to be disregarded in relation to the account holder’s
17 Disclosure of
(1) A bank (or any other
person who holds any records of a bank that relate to dormant accounts held or
formerly held with the bank) must allow the Minister (or another person
authorized in writing by the Minister for the purposes of this Article) to have
access to any records of the bank where that access is necessary for the
performance of the Minister’s functions under this Law.
(2) No obligation as to
secrecy or other restriction on disclosure (however imposed) prevents a bank or
other person from disclosing those records to the Minister or other person
under paragraph (1).
(3) If a bank fails to
comply with paragraph (1), the bank is guilty of an offence and liable to
a fine of level 3 on the standard scale.
JERSEY RECLAIM FUND AND DISTRIBUTION OF MONEY
There is established the Jersey Reclaim Fund.
19 Bank to act as
agent of Fund
(1) A bank acts as the
agent of the Minister in respect of the following matters –
claims from and repayments out of the Fund;
fulfilment of any legal or regulatory obligations arising out of client
(2) The Minister may by
Order prescribe the terms on which a bank so acts as agent.
(3) Despite paragraph (2)
the Minister may agree with a bank such additional terms as the Minister
(4) The bank with which the
Minister makes an agreement under paragraph (3) must meet the
Minister’s reasonable costs in reaching the agreement.
(5) Unless and until it is
terminated with the consent of the Minister on behalf of the Fund the
arrangement by which a bank acts as agent under this Article is binding on any
liquidator, any trustee in bankruptcy and any successor of the bank.
(6) A bank’s role as
agent under this Article may not be assigned or transferred by contract except
as approved by the Minister on behalf of the Fund.
20 Distribution of Fund
(1) The Minister must by
Order, having consulted the Minister for Treasury and Resources, set out
policies and procedures for determining whether to make any distribution from
the Fund and, if so, the amounts that must be distributed for the purposes of
(2) The purposes for which
the monies may be distributed are –
defray the cost of the remuneration or other payment for the services of the
Commissioner due under the terms of his or her appointment and the cost of
providing staff, accommodation or equipment that are required for the proper and
effective discharge of the Commissioner’s functions; and
purposes in accordance with paragraph (4).
(3) The Minister must by
Order appoint an organization independent of the Minister to determine the
persons or bodies for whose charitable purposes money from the Fund must be
distributed, and to distribute that money to those persons or bodies.
(4) The independent
organization must distribute such money as has been determined in accordance
with an Order made under paragraph (1) for the following charitable
purposes in such proportions as may be prescribed –
advancement of the arts in Jersey;
advancement of public participation in sport in Jersey;
advancement of the heritage of Jersey;
advancement of health, education, and environmental protection or improvement,
other charitable purpose carried on by a registered charity in Jersey.
(5) A distribution under
paragraph (4) may be in the form of either a grant or loan and may be
subject to conditions (which may, in particular, include conditions as to
repayment with interest).
(6) For the purposes of
this Part, distributing money for a purpose includes distributing money to
establish, or contribute to, endowments (including permanent endowments) in
connection with the purpose.
(7) The independent
organization must report annually to the Minister on its activities under this
Article over the previous 12 months and such report, together with audited
accounts relating to those activities, must be laid before the States as soon
(8) The States may amend
this Article by Regulations.
(9) In this
“charitable purpose” and “registered charity” have the
same meaning as in Article 1 of the Charities (Jersey)
organization” means the organization appointed under paragraph (3).
21 Functions under
Law not deposit-taking or financial service business
If the Minister or another person performs any function that the
Minister may perform under this Law, he or she does not, by so doing, carry on
deposit-taking business within the meaning of the Banking Business (Jersey)
Law 1991 or financial service business within the meaning of the Financial Services (Jersey)
22 Limitation of
(1) Despite Article 19(1)
the Minister, his or her servants or agents (excluding the bank where the bank
acts as an agent of the Minister) are not liable for the actions of the bank,
its servants or agents in respect of any of the bank’s obligations under
this Law, other than in respect of its obligation under Article 11(1)(f).
(2) The Minister, his or
her servants or agents are not liable to a bank or any of its account holders
as a result of any action taken in relation to the Fund that would otherwise
arise outside of any obligation imposed by or under this Law.
(3) Without limiting
paragraphs (1) and (2), the Minister, his or her servants or agents are
not liable in damages for anything done or omitted in the discharge or
purported discharge of any function under, or authorized by or under, this Law
unless it is shown that the act or omission was in bad faith.
(4) For clarity, this
Article applies to any person to whom the Minister has delegated any function
under Article 28 of this Law or under Article 28 of the States of Jersey
Law 2005 in relation to any of his or her functions under this Law.
(1) The Minister may make
Orders relating to any matter required or permitted by this Law to be
prescribed or necessary or convenient to be prescribed for carrying out or
giving effect to this Law.
(2) In particular the
Orders may make provision for or with respect to any of the following –
any expression of time (whether numerical or otherwise) in this Law;
to be given under this Law;
requirements, and other matters, that relate to such notices, including how
notice is to be given, the matters in respect of which notices are required and
the form or contents of, or information to be included in, the notices;
in general for the purposes of this Law;
and reports, to be furnished by banks to the Minister for the purposes of this
circumstances in which a bank is not to transfer, to the Fund, part or all of a
balance on a dormant account;
fees to be charged in prescribed circumstances for the benefit of the Fund for
processing a claim for repayment to a former account holder whose dormant
account has been transferred to the Fund;
administration of this Law;
requirements, and other matters, in respect of the operation of this Law.
(3) The States may by
Regulations make provision for the following matters –
performance of the functions of a bank under this Law in the case where the
bank has become bankrupt, has transferred any part of its deposit-taking
business or has ceased to trade;
rights and priorities of holders of dormant accounts, and of other persons with
interests in those accounts, in the case where the bank has become bankrupt,
has transferred any part of its deposit-taking business or has ceased to trade;
appointment or constitution, and functions under this Law, of a person who may
perform the functions of the relevant bank under this Law in a case referred to
in sub-paragraph (g) or (h);
remuneration or funding of such a person in such a case, including remuneration
or funding from the bankrupt estate of the bank or from the bank’s assets
or former assets or from the Fund;
provision for priority in such a case as between such a person and creditors of
the relevant bank;
to the Public Finances (Jersey)
Law 2019 and any enactment made under that Law, the structure and operation
of the Fund.
(4) Orders and Regulations
may create an offence punishable by a fine of level 3 on the standard
(5) Orders and Regulations may
contain such transitional, consequential, incidental or supplementary
provisions, or such savings, as appear to the Minister to be necessary or
expedient for the purposes of the Order.
(6) A reference in this
Article to procedures does not include the procedure of any court.
false information etc.
person is guilty of an offence and liable to imprisonment for a term of 2 years
and to a fine if –
person provides information to the Minister, or to any other person entitled to
information under this Law –
(i) in connection
with an application or claim,
purported compliance with a requirement imposed under this Law or any enactment
made under this Law, or
than as mentioned in sub-paragraphs (i) and (ii) but in circumstances in
which the person providing the information intends, or could reasonably be
expected to know, that the information would be used by the Minister or other
person for the purpose of exercising his or her functions under this Law;
information is false or misleading in a material particular; and
person knows that, or is reckless as to whether, the information is false or
misleading in a material particular.
person is guilty of an offence and liable to a fine of level 3 on the
standard scale if the person fails, without reasonable excuse, to comply with a
requirement, imposed under this Law or any enactment made under this Law, to
provide information in connection with an application or claim to the Minister,
or to any other person entitled to the information, under this Law or under or
any enactment made under this Law.
responsibility of partners and officers
(1) Where an offence under
this Law committed by any form of partnership that is a legal person or by a
body corporate is proved to have been committed with the consent or connivance
of, or to be attributable to any neglect on the part of –
person who is a general partner of the partnership or other partner
participating in the management of the partnership, or director, manager,
secretary or other similar officer of the body corporate; or
person purporting to act in any such capacity,
the person is also guilty of the offence and liable in the same
manner as the partnership or body corporate to the penalty provided for that
(2) Where the affairs of a
body corporate are managed by its members, paragraph (1) applies in
relation to acts and defaults of a member in connection with the member’s
functions of management as if the member were a director of the body corporate.
26 Bona vacantia
(1) Nothing in this Law
affects the operation of the rule of law regarding bona
vacantia or any claim that the Receiver-General may have in respect of bona vacantia.
(2) Accordingly, the
Receiver-General may claim, and be paid, from the Fund any amount of a balance
paid to the Fund where the amount corresponds to the value of property that is bona vacantia.
27 Recovery of
The Minister may recover from the Fund his or her expenses in the
performance of any of his or her functions under this Law.
28 Power of Minister
to delegate functions
(1) The Minister may, in
writing, delegate, wholly or partly, the functions conferred upon or vested in
the Minister by or under any provision of this Law (except Article 20) to
any person (other than a person to whom the Minister may make such a delegation
under Article 28 of the States of Jersey
(2) A Minister must not so
power to make an enactment;
power to decide an appeal under an enactment;
function the delegation of which is prohibited by an enactment.
(3) The delegation of
functions by a Minister under this Article does not prevent the Minister
exercising those functions personally.
(1) This Article applies
where a bank has, before the coming into force of this Article –
system in place that identifies accounts held by the bank that are dormant for
a shorter period than 15 years; or
system is in place for identifying dormant bank accounts.
(2) Where this Article
applies no offence is committed under Article 7 –
paragraph 1(a) applies, until a period of time has elapsed that is
equivalent to the time difference between the length of time after which the
system identifies accounts as dormant and 15 years;
paragraph 1(b) applies, until 5 years after the coming into force of
(3) However, paragraph (2)
does not apply if the bank were able by reasonable means to discover whether or
not any accounts held by it are dormant (within the meaning of Article 5)
other than by a manual check of each account it holds (for example by means of
a computerized search using its existing systems).
This Law may be cited as the Dormant Bank Accounts (Jersey)