Proceeds
of Crime (Supervisory Bodies) (Transitional Provisions) (Jersey) Order 2023
1 Interpretation
In this Order –
“Amendment Law” means the Proceeds of Crime (Amendment No. 6) (Jersey) Law 2022;
“Consequential and
Miscellaneous Regulations” means the Proceeds of Crime (Consequential and Miscellaneous) (Jersey)
Regulations 2023;
“Law” means the Proceeds
of Crime (Supervisory Bodies) (Jersey) Law 2008.
2 Schedule 2
business carried on by registered person
(1) Subject
to paragraph (2), until 1st July 2023, a registered person who immediately
before the commencement of the Consequential and Miscellaneous Regulations was
carrying on a Schedule 2 business in respect of which the registered
person does not hold a registration certificate under Article 14 of the Law –
(a) may continue to carry on
that Schedule 2 business; and
(b) is treated as being
registered under Part 3 of the Law in respect of that Schedule 2
business.
(2) A
registered person referred to in paragraph (1) must make an application
for registration under Article 13 of the Law before 1st July 2023.
(3) If
a registered person makes an application under paragraph (2) before 1st
July 2023, until the application and any appeal against the decision of the
Commission in respect of the application are determined, the registered person –
(a) may continue to carry on
the Schedule 2 business stated in the application; and
(b) is treated as being
registered under Part 3 of the Law for the Schedule 2 business stated
in the application.
(4) An
application under paragraph (2) must be accompanied by the fee under Article 13(1)(c)
of the Law.
3 Schedule 2
business carried on by regulated person
(1) Subject
to paragraph (2), until 1st July 2023, a regulated person who immediately
before the commencement of the Consequential and Miscellaneous Regulations was
carrying on a Schedule 2 business that is a regulated business or in respect
of which the regulated person was deemed registered under Article 14 of
the Law –
(a) may continue to carry on
that Schedule 2 business; and
(b) is treated as being
registered under Part 3 of the Law in respect of that Schedule 2
business.
(2) A
regulated person referred to in paragraph (1) must, before 1st July 2023,
notify the Commission under Article 11(3) of the Law that the regulated person intends
to continue to carry on the Schedule 2 business.
(3) Despite
Article 11(4) of the Law, the Commission shall determine the form and content
of a notification under paragraph (2).
(4) Despite
Article 11(5) of the Law, no fee is payable for a notification under
paragraph (2).
4 Schedule 2
business carried on by a person who was a regulated person
(1) Subject
to paragraph (2), until 1st July 2023, a person may continue to carry on a
Schedule 2 business and is treated as being registered under Part 3
of the Law in respect of that Schedule 2 business if –
(a) the person is not a regulated person; and
(b) immediately before the commencement of the Consequential and
Miscellaneous Regulations, the person was, subject to paragraph (5), a former regulated
person and was carrying on a Schedule 2 business.
(2) A
person referred to in paragraph (1) must make an application for
registration under Article 13 of the Law before 1st July 2023.
(3) If
a person makes an application under paragraph (2) before 1st July 2023, until
the application and any appeal against the decision of the Commission in
respect of the application are determined, the person –
(a) may continue to carry on
the Schedule 2 business stated in the application; and
(b) is treated as being
registered under Part 3 of the Law for the Schedule 2 business stated
in the application.
(4) An
application under paragraph (2) must be accompanied by the fee under
Article 13(1)(c) of the Law.
(5) In
paragraph (1)(b), “former regulated person” has the meaning assigned in paragraphs
(b), (c) and (d) of the definition “regulated person” in Article 1(1) of the
Law before the commencement of the Amendment Law.
5 Business that became Schedule 2
business on commencement of Consequential and Miscellaneous Regulations
(1) Subject
to paragraph (2), until 1st July 2023, a person, other than a registered
person or regulated person, who immediately before the commencement
of the Consequential and Miscellaneous Regulations was carrying on a business
that became a Schedule 2 business on the commencement of the Amendment Law –
(a) may continue to carry on
that Schedule 2 business; and
(b) is treated as being
registered under Part 3 of the Law in respect of that Schedule 2
business.
(2) A
person referred to in paragraph (1) must make an application for
registration under Article 13 of the Law before 1st July 2023.
(3) If
a person makes an application under paragraph (2) before 1st July 2023, until
the application and any appeal against the decision of the Commission in
respect of the application are determined, the person –
(a) may continue to carry on
the Schedule 2 business stated in the application; and
(b) is treated as being
registered under Part 3 of the Law for the Schedule 2 business stated
in the application.
(4) An
application under paragraph (2) must be accompanied by the fee under
Article 13(1)(c) of the Law.
5A Modification of Article 5
for qualifying persons[1]
(1) In
the application of Article 5 to a qualifying person, the references in
paragraphs (1), (2) and (3) to 1st July 2023 are to be read as 1st October
2023.
(2) A
“qualifying person” means any of the following persons to whom
Article 5(1) applies –
(a) a person acting as a
director of a company where that role became a Schedule 2 business (within
paragraph 23(2) of Schedule 2) on commencement of the Amendment Law;
(b) a trustee carrying on
lending activity in relation to one or more trusts where that activity became a
Schedule 2 business (within paragraph 3 of Schedule 2) on
commencement of the Amendment Law;
(c) a person carrying on
family office business that became a Schedule 2 business (within one or
more paragraphs of Schedule 2) on commencement of the Amendment Law;
(d) a person providing a
gambling service by means only of giving people the opportunity to participate
in the game known as Crown and Anchor that became a Schedule 2 business
(within paragraph 18 of Schedule 2) on commencement of the Amendment
Law.
(3) For
the purposes of paragraph (2)(c), “family office business” does not
include a business that uses a private trust company administered by a person
registered to carry on trust company business in Jersey; and in determining
whether a person is carrying on family office business, regard must be had to
any relevant guidance issued by the Commission.
(4) In
this Article, “Schedule 2” means Schedule 2 to the Proceeds of Crime
(Jersey) Law 1999.
6 Citation and
commencement
This Order may be cited as the Proceeds of Crime (Supervisory
Bodies) (Transitional Provisions) (Jersey) Order 2023 and comes into force
immediately after the commencement of the Consequential and Miscellaneous
Regulations.