Jersey Planning to Improve Companies Law

Jersey Planning to Improve Companies Law

The Jersey government approved a comprehensive review of the island's Companies Law 1991 to strengthen the competitiveness of Jersey companies.

In particular, Jersey plans to implement a number of legislative amendments in order to make rules on the movement of funds between accounts more flexible; remove vestigial rules on commissions and discounts; introduce an out-of-court alternative for businesses seeking to reduce their capital; introduce new regulations to establish a formal demerger procedure for companies.

The first amendments package to the Companies Law is expected to be brought before the island's legislative assembly later this year.

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