Financial Services Commission (Bailiwick of Guernsey) (Amendment) Law, 2012

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PROJET DE LOI

ENTITLED

The Financial Services Commission (Bailiwick of Guernsey) (Amendment) Law, 2012

THE STATES, in pursuance of their Resolution of the 23^rd November, 2010[a], have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in the Bailiwick of Guernsey.

Amendment of 1987 Law.

1. The Financial Services Commission (Bailiwick of Guernsey) Law, 1987, as amended[b], is further amended as follows.

2. After section 2(2A)[c] insert the following subsection -

"(2AB) Notwithstanding the repeal on the 28^th October, 2008 by the Financial Services Commission (Amendment) (Bailiwick of Guernsey) Law, 2008 of subparagraphs (i) and (ii) of subsection (2A)(a), the Commission shall be deemed, between that date and the 23^rd November, 2010 (when the States resolved pursuant to section 2(2)(f) that the general functions of the Commission shall include the taking of such steps as the Commission considers necessary or expedient for participating in the ownership and governance of the GTA University Centre, including (without limitation) to act as protector of the charitable trust declared on the 6^th June, 1996 by which the Finance Training Agency Trust was constituted, and to fund and support the GTA University Centre) to have had power to perform those functions in all respects as if the said subparagraphs (i) and (ii) had not been repealed.".

Citation.

3. This Law may be cited as the Financial Services Commission (Bailiwick of Guernsey) (Amendment) Law, 2012.

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[a]	Adjourned from the 27^th October, 2010; Article IV of Billet d'État No. XXI of 2010.
[b]	Ordres en Conseil Vol. XXX, p. 243; amended by Vol. XXXIII, p. 471; Vol. XXXV(1), p. 271; Vol. XXXVII, p. 24; Vol. XXXVIII, p. 79; No's. XVII and XXI of 2002; No's. III and XXII of 2003; No's. XIX, XXIII and XXIV of 2008; No. XIX of 2010; Recueil d'Ordonnances Tome XXIX, p. 406; Tome XXX, p. 722; and the Financial Services Commission (Bailiwick of Guernsey) (Amendment) Regulations, 2009 (G.S.I. 2009/29).
[c]	Subsection (2A) was inserted by Order in Council No. XVII of 2002 (Vol. XLII (I), p. 644).