Financial Services (Amendment of Law) (No. 4) (Jersey) Regulations 2012

Financial Services (Amendment of Law) (No. 4) (Jersey) Regulations 2012

Made                                                                     6th December 2012

Coming into force                                                         2nd April 2013

THE STATES, in pursuance of Articles 4(2) and 42 of the Financial Services (Jersey) Law 1998[1], have made the following Regulations –

1        Article 1 of Law amended

In Article 1(1) of the Financial Services (Jersey) Law 1998[2] the following definitions are inserted, each according to its alphabetical order –

“ ‘AIF’ means a scheme or arrangement that is an AIF for the purposes of Directive 2011/61/EU and in relation to which an AIFM (as defined in that Directive) is an AIFM to which the provisions of that Directive apply;

‘AIF services business’ has, subject to any Order under Article 4, the meaning given to that expression by Article 2;

‘Directive 2011/61/EU’ means Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No. 1060/2009 and (EU) No. 1095/2010 (O.J. No. L174 1.7.2011, p.1), as in force on 1st January 2013;”.

2        Article 2 of Law amended

In Article 2 of the Financial Services (Jersey) Law 1998[3] –

(a)     in paragraph (1) for the words “or fund services business.” there are substituted the words “, fund services business or AIF services business.”;

(b)     after paragraph (10) there is added the following paragraph –

“(11)  A person carries on AIF services business if the person is a legal person whose regular business is managing one or more AIFs (where managing AIFs has the same meaning as in Directive 2011/61/EU).”.

3        Citation and commencement

(1)     These Regulations may be cited as the Financial Services (Amendment of Law) (No. 4) (Jersey) Regulations 2012.

(2)     These Regulations shall come into force on 2nd April 2013.

a.h. harris

Deputy Greffier of the States



[1]                                    chapter 13.225

[2]                                    chapter 13.225

[3]                                    chapter 13.225

Page Last Updated: 16 Jun 2015