Economic Development Minister Philip Ozouf has this week lodged a proposition to name the day when Amendment 8 to the Companies Law will come into force.
The Protected Cell Company structure is seen by the finance industry as an important step forward which will enable Jersey firms to compete with other jurisdictions where such legislation is already in place, including Guernsey, the Isle of Man, Mauritius, Bahamas, Cayman and Nevada.
Clients stand to benefit from the new structure because it enables a company to be set up as one legal entity but including ‘cells’ with separate assets and liabilities.
Senator Ozouf also proposes that those areas of the amendments relating to insolvency be postponed and brought into force at the same time to amendments to the Bankruptcy Law later this year.
