Banking and
Financial Dealings (Jersey) Law 1973
Official
Consolidated Version
This is an official
version of consolidated legislation compiled and issued under the authority of
the Legislation (Jersey) Law 2021.
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from 11 January 2024 to Current
Banking and
Financial Dealings (Jersey) Law 1973
A LAW to give effect in Jersey to certain orders made by His
Majesty’s Treasury under the Banking and Financial Dealings Act 1971
of the United Kingdom[1]
Commencement [see
endnotes]
1 Treasury
orders
(1) Subject to the
provisions of this Article, any order made by the Treasury under the provisions
of subsection (1) of section 2 of the Banking and Financial Dealings
Act 1971 of the United Kingdom giving all or any of the directions set out
in sub-paragraphs (a), (b), (c), (d) and (e) of the said subsection shall
have effect in Jersey by virtue of this Law for so long and no longer as it has
effect in the United Kingdom and any such order is hereafter in this Law
referred to as a “Treasury order”.
(2) An obligation on a person
to do a thing on a day on which the person is prevented from doing it by a
Treasury order or is unable to do it by reason of any such order shall be
deemed to be fulfilled if the person does it as soon as practicable thereafter.
2 Offences
(1) Any person who
knowingly or recklessly contravenes a direction given by a Treasury order shall
be guilty of an offence and liable, on conviction, to imprisonment for not more
than 2 years or to a fine or to both.
(2) Where an offence under
this Article which has been committed 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, a director, manager, secretary or other similar officer
of the body corporate, or any person purporting to act in any such capacity the
person, as well as the body corporate, shall be guilty of that offence and
shall be liable to be proceeded against accordingly.
(3) Where the affairs of a
body corporate are managed by its members, the provisions of paragraph (2)
shall apply in relation to the 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.
3 Citation
This Law may be cited as the Banking and Financial Dealings (Jersey)
Law 1973.