European Union
(Financial Services – Miscellaneous Amendments) (Jersey)
Regulations 2019
Made 12th March 2019
Coming into force in
accordance with Regulation 6
THE STATES, in pursuance of Articles 2 and 5A of the European Union
Legislation (Implementation) (Jersey) Law 2014[1], have made the following
Regulations –
1 Banking
Business (Jersey) Law 1991 amended
In the Banking Business (Jersey) Law 1991[2] –
(a) in Article 8(2),
after sub-paragraph (a), there is inserted –
“(aa) the Bank of England;”;
(b) in Article 38(1)
and (2), for “the States, the central bank of a member State of the
European Union or” there is substituted “the States, the Bank of
England, the central bank of a member State of the European Union or”;
(c) in Article 43(3),
after sub-paragraph (b) there is inserted –
“(ba) the Bank of England;
(bb) the Prudential Regulation Authority or Financial
Conduct Authority of the United Kingdom; or”.
2 Companies
(Jersey) Law 1991 amended
In the Companies (Jersey) Law 1991[3], in Article 102(1) –
(a) for
the definition “Directive” there is substituted –
“ “Directive”
means Directive 2014/65/EU of the European Parliament and of the Council of
15 May 2014 (OJ L 173, 12.6.2014. p. 349) on markets in
financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU,
as amended from time to time;”;
(b) for
the definition “regulated market” there is substituted –
“ “regulated
market” means –
(a) a UK regulated market, within the meaning
given, in the United Kingdom, by Article 2.1(13A) of Regulation (EU)
No 600/2014 of the European Parliament and of the Council of 15 May 2014
as substituted by regulation 26(2)(a) of the Markets in Financial
Instruments (Amendment) (EU Exit) Regulations 2018 of the United Kingdom
(S.I. 2018/1403); or
(b) a regulated market within the meaning given
by Article 4.1(21) of the Directive;”;
(c) in
the definition “transferable securities”, for “(see Article 4.1(18)
of the Directive)” there is substituted “(see Article 4.1(44)
of the Directive)”.
3 Companies
(Takeovers and Mergers Panel) (Jersey) Law 2009 amended
In the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009[4] –
(a) in Article 1(1),
for the definitions “takeover bid” and “Takeovers Directive”
there is substituted –
“ “takeover
bid” includes a public offer made to the holders of the securities of a
company to acquire some or all of those securities, whether mandatory or
voluntary, which follows or has as its objective the acquisition of control of
that company, but does not include cases where the offer is made by the company
itself.”;
(b) Article 1(2)
is deleted;
(c) for
Article 3(1) there is substituted –
“(1) The
Panel may make rules giving effect to the general principles in Part 1 of
Schedule 1C to the Companies Act 2006.”;
(d) in Article 8(6)(a),
for “an authority within paragraph (7)” there is substituted
“the Commission”;
(e) Article 8(7)
is deleted;
(f) Article 10(1)(b)
is deleted.
4 Financial
Services (Jersey) Law 1998 amended
In the Financial Services (Jersey) Law 1998[5], in Article 39A(1), in the
definition “public sector body” in paragraph (c), for “include
Jersey or a member state of the EU” there is substituted “include
Jersey, the United Kingdom, or a member state of the EU”.
5 EU
Legislation (Payment Services – SEPA) (Jersey) Regulations 2015
amended
In Regulation 1(1) of
the EU Legislation (Payment Services – SEPA) (Jersey) Regulations
2015 –
(a) the
definition “SEPA” is deleted;
(b) for
the definition “SEP statutory area” there is substituted the
following definition –
“ “SEP
statutory area” means the countries and territories listed in the
document (as in force from time to time) that is published by the EPC as the
“List of SEPA Scheme Countries” or otherwise as a list of countries
and territories which are part of the geographical scope of the schemes managed
by the EPC;”.
6 Citation
and commencement
These Regulations may be
cited as the European Union (Financial Services – Miscellaneous
Amendments) (Jersey) Regulations 2019 and come into force on such day or
days, and time or times, as the Minister for External Relations may by Order
appoint.
l.-m. hart
Deputy Greffier of the States