Companies (GAAP)
(Jersey) Order 2010
Made 24th March 2010
Coming into force 5th
April 2010
THE MINISTER FOR ECONOMIC DEVELOPMENT, in pursuance of Articles 105(2)(a) and 219
of the Companies (Jersey) Law 1991[1] and after consultation with the Jersey Financial Services
Commission, orders as
follows –
1 Interpretation
In this Order, “the Law” means the Companies (Jersey)
Law 1991[2].
2 Prescribed
GAAP under Article 105(2)(a) of the Law
For the purposes of Article 105(2)(a) of
the Law, the generally accepted accounting principles prescribed for the
preparation of any one set of accounts for a financial period starting on or
after the date this Order comes into force are any one of the following sets of
principles and standards –
the Canadian Generally Accepted Accounting Principles (Canadian
GAAP);
the Chinese Generally Accepted Accounting Principles (Chinese GAAP);
the Indian Generally Accepted Accounting Principles (Indian GAAP);
the International Financial Reporting Standards adopted by
Regulation of the Commission of the European Communities, as that Regulation is
in force from time to time;
the International Financial Reporting Standards issued by the
International Accounting Standards Board;
the Japanese Generally Accepted Accounting Principles (Japanese
GAAP);
the South Korean Generally Accepted Accounting Principles (South
Korean GAAP);
the United Kingdom Generally Accepted Accounting Principles (UK
GAAP);
the United States Generally Accepted Accounting Principles (US
GAAP).
3 Citation
This Order may be cited as the Companies (GAAP) (Jersey) Order 2010.
4 Commencement
This Order shall come into force on the same day as
Regulation 4 of the Companies (Amendment No. 4) (Jersey) Regulations
2009.
senator a.j.h. maclean
Minister for Economic Development