Control of Borrowing (Amendment No. 14) (Jersey) Order 2011

Control of Borrowing (Amendment No. 14) (Jersey) Order 2011

Made                                                                        3rd October 2011

Coming into force                                                   10th October 2011

THE MINISTER FOR ECONOMIC DEVELOPMENT, in pursuance of Article 2 of the Control of Borrowing (Jersey) Law 1947[1], and on the recommendation of the Jersey Financial Services Commission, orders as follows –

1        Article 10 replaced

For Article 10 of the Control of Borrowing (Jersey) Order 1958[2] there shall be substituted the following Article –

“10    Partnerships with limited partners

(1)     A person shall not, without the consent of the Commission –

(a)     raise money in Jersey for the purposes of a limited partnership by the creation of any partnership interest;

(b)     for any purpose create any interests under a limited partnership if either that limited partnership is governed by the law of Jersey or the interests are or are to be registered in Jersey; or

(c)     circulate in Jersey any offer for subscription, sale or exchange of any partnership interest created under any limited partnership other than one to which paragraph (2) refers.

(2)     The limited partnerships to which this paragraph refers are –

(a)     a limited partnership formed under the Limited Partnerships (Jersey) Law 1994[3];

(b)     a separate limited partnership formed under the Separate Limited Partnerships (Jersey) Law 2011[4]; and

(c)     an incorporated limited partnership formed under the Incorporated Limited Partnerships (Jersey) Law 2011[5].

(3)     For the purposes of this Article, a person raises money in Jersey only if the money is made available in Jersey.

(4)     In this Article, ‘partnership interest’ means a partner’s share of the profits and losses of a limited partnership and the right to receive distribution of partnership assets and other benefits conferred by the partnership agreement.”.

2        Citation and commencement

(1)     This Order may be cited as the Control of Borrowing (Amendment No. 14) (Jersey) Order 2011.

(2)     This Order shall come into force 7 days after it is made.


Minister for Economic Development








[1]                                    chapter 24.150

[2]                                    chapter 24.150.50

[3]                                    chapter 13.500

[4]                                    L.6/2011

[5]                                    L.5/2011

Page Last Updated: 25 Apr 2016