Postal Services (Transfer) (Jersey) Regulations 2006

Official Consolidated Version

This is an official version of consolidated legislation compiled and issued under the authority of the Legislation (Jersey) Law 2021.

Showing the law from 1 January 2019 to 21 August 2019

Postal Services (Transfer) (Jersey) Regulations 2006

Regulation

1             Interpretation. 4

2             Companies: Articles 27, 34, 35. 4

3             Securities in companies: Article 28. 5

4             Transfer date: Article 32. 5

5             Transfer of Committee movables to Jersey Post Limited: Article 34. 5

6             Transfer of Committee immovables: Articles 35, 37. 6

7             Postal Pension Fund: Article 36. 6

8             Treatment of trading fund in transfers: Article 38. 7

9             Treatment of Committee assets and liabilities in transfers: Article 38. 8

10           Value of JPIL: Article 38. 8

11           Committee assets, rights and liabilities: values relevant for Companies (Jersey) Law 1991: Article 38  8

12           JPI (Parishes) Limited, JPI (Rue des Pres) Limited and JPI (Broad Street) Limited: values relevant for Companies (Jersey) Law 1991: Article 38. 9

13           Jersey Post Limited: values relevant for Companies (Jersey) Law 1991: Article 38. 9

14           Jersey Post International Limited: values relevant for Companies (Jersey) Law 1991: Article 38  9

15           Transfer of staff: Article 40. 9

16           Restriction on exercise of powers by Minister for Treasury and Resources. 9

17           Citation. 10

POSTAL HEADQUARTERS, RUE DES PRES  11

BROAD STREET POST OFFICE  14

Unit 1 at 4-6 L’Avenue Le Bas, Rue des Pres Trading Estate  15

Bays 3 and 4, Rue des Pres Trading Estate  16

Table of Legislation History. 17

Table of Renumbered Provisions. 17

Table of Endnote References. 17

Postal Services (Transfer) (Jersey) Regulations 2006

1        Interpretation

In these Regulations –

“Law” means the Postal Services (Jersey) Law 2004;

“Postal Pension Fund” means the special fund (within the meaning of the Public Finances (Jersey) Law 2005) in respect of the retirement scheme referred to in Article 42(2)(b) of the Law;

“registered” in relation to a company means registered under the Companies (Jersey) Law 1991.

2        Companies: Articles 27, 34, 35

(1)     Jersey Post International Limited, registered on 22nd September 2005, allocated the registered number 91247 and having its registered office at the Postal Headquarters, La Rue Grellier, Rue des Pres Trading Estate, St. Saviour JE2 7QS, is prescribed as the principal company for the purposes of the Law.

(2)     The following subsidiaries of the principal company are prescribed for the purposes of the Law –

(a)     Jersey Post Limited, registered on 21st October 2004, allocated the registered number 88764 and having its registered office at the Postal Headquarters, La Rue Grellier, Rue des Pres Trading Estate, St. Saviour JE2 7QS;

(b)     JPI (Parishes) Limited, registered on 22nd September 2005, allocated the registered number 91245 and having its registered office at the Postal Headquarters, La Rue Grellier, Rue des Pres Trading Estate, St. Saviour JE2 7QS;

(c)     JPI (Rue des Pres) Limited, registered on 22nd September 2005, allocated the registered number 91246 and having its registered office at the Postal Headquarters, La Rue Grellier, Rue des Pres Trading Estate, St. Saviour JE2 7QS;

(d)     JPI (Broad Street) Limited, registered on 22nd September 2005, allocated the registered number 91242 and having its registered office at the Postal Headquarters, La Rue Grellier, Rue des Pres Trading Estate, St. Saviour JE2 7QS.

3        [1]

4        [2]

5        [3]

6        [4]

7        [5]

8        Treatment of trading fund in transfers: Article 38

(1)     The accounts in the books of the Treasurer of the States recording the position as at midnight on 30th June 2006 (and transactions up to that time) of the trading fund (within the meaning of the Public Finances (Jersey) Law 2005) that is the Minister for Economic Development’s trading fund that corresponds to and is a continuation of the trading fund of the Committee for Postal Administration (as constituted under Article 4 of the Post Office (Jersey) Law 1969), shall be aggregated.

(2)     The balance of those accounts after that aggregation shall be reduced to zero by payment, on demand, from Jersey Post Limited to the States, or from the States to Jersey Post Limited, as the case requires.

(3)     That demand is one made, on or after the transfer date, by the Treasurer of the States or Jersey Post Limited, respectively.

9        [6]

10      [7]

11      [8]

12      [9]

13      [10]

14      [11]

15      [12]

16      Restriction on exercise of powers by Minister for Treasury and Resources

The following powers are prescribed for the purposes of Article 27(5)(d) of the Law –

(a)     the power to vote on a resolution of Jersey Post International Limited for, or otherwise authorize, the disposal of its shares or share rights in Jersey Post Limited, or the creation or disposal of security interests over those shares or share rights or the creation of any other charge over those shares or share rights;

(b)     the power to vote on a resolution of Jersey Post International Limited for, or otherwise authorize, the exercise of that company’s powers and rights, as the holder of securities in Jersey Post Limited, to vote on a resolution for, or otherwise authorize –

(i)      the issue of shares or share rights in Jersey Post Limited to any person other than Jersey Post International Limited, or

(ii)     the winding up of Jersey Post Limited.

17      Citation

These Regulations may be cited as the Postal Services (Transfer) (Jersey) Regulations 2006.

 SCHEDULE 1[13]

SCHEDULE 2[14]

SCHEDULE 3[15]

SCHEDULE 4[16]

Endnotes

Table of Legislation History

◦Projets available at www.statesassembly.gov.je

Table of Renumbered Provisions

Table of Endnote References