Thursday 31st October 2024
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Comsure operates in:the UK, Jersey, Guernsey

JFSC FEEDBACK ON CONSULTATION PAPER NO. 2 2014 CIVIL FINANCIAL PENALTIES: DRAFT PRIMARY LEGISLATION

Feedback to a consultation on primary legislation to provide the Commission with the power to impose civil financial penalties for contraventions of Codes of Practice.

In the CONSULTATION PAPER [CP] the Commission sought views on draft legislation – the Amendment Law – which would amend the Commission Law to introduce statutory provisions to enable the Commission to impose civil financial penalties on registered persons for contraventions of the Codes of Practice.

The purpose of this paper is to feedback on the responses received to the CP. Whilst no fundamental changes to the Amendment Law have been considered necessary as a result of the responses received, some ‘fine-tuning’ of the draft legislation has been done, as described in chapters 2 and 3.

On 22 September 2014 the Chief Minister lodged the draft Amendment Law (in the form shown in Appendix B of the CP) for debate by the States on 25 November 2014.

If adopted by the States the Amendment Law will come into force one month after it has been registered in the Royal Court, which can only take place once the Privy Council has sanctioned it.

It usually takes around three months for the sanction of the Privy Council to be granted.

Separately, a draft Order that would be made under Article 21B (of an amended Commission Law) to set the financial penalty ‘tariff’ is being prepared and will be consulted on shortly.

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