Government measures in key jurisdictions 5th edition - Flipbook - Page 90
Jersey
Company
law matters
•
Have any measures
been put in place
•
to accommodate
social distancing
(such as remote
general meetings)?
•
90
The Jersey Companies Registry is fully operational and continues to provide a full
service. It is demonstrating flexibility in its approach by accepting electronic
signatures and the submission of information electronically to assist users during the
current situation.
The Jersey Financial Services Commission has similarly demonstrated a flexible
approach in accepting electronic or scanned signatures with applications and filings
to help overcome the challenges caused by the travel and social distancing
restrictions imposed by the coronavirus pandemic.
Jersey’s Comptroller of Revenue issued guidance to confirm that where
companies’ operating practices have to be adjusted to compensate for the Covid19 pandemic, the Comptroller will not determine under Article 6 of the Taxation
(Companies – Economic Substance) (Jersey) Law 2019 that a company has failed
the economic substance test. Due to the ongoing nature of Covid-19, further
guidance was issued in relation to the concession granted in relation to the
economic substance test clarifying its application and scope. The further
guidance also stated that the concession was temporary in nature and would be
withdrawn as soon as circumstances permit.
•
Mourant has produced a briefing regarding regulatory considerations for licensed
financial services businesses in the Channel Islands when responding to the Covid-19
outbreak.
•
Mourant has also considered the ways companies can overcome barriers to
completing transactions during the Covid-19 pandemic. All the most recent Mourant
updates relating to Covid-19 are available at Mourant Covid-19 Updates.
Government measures in key jurisdictions
