REPORT
The Draft Companies (Annual Returns – Additional Charge) (Jersey) Regulations 200- (“the Regulations”) are only intended to apply to future annual returns, as annual returns for 2008 are covered by the previous system for setting fees, under which a single fee was levied including both an element to cover the Registrar of Companies’ costs and an element which was passed to the States’ Treasurer.
However, in their original form, the Regulations would apply to companies in relation to 2008 returns if the return was made late so as to fall after the date the Regulations come into force. The company would therefore have to pay an additional fee and would effectively be paying the States’ element of the fee twice, which would be unfair. This Amendment avoids this by disapplying the Regulations in relation to annual returns for 2008 or earlier.
Financial/manpower implications
There are no measurable
cost or manpower implications arising for the Commission, the States or
industry from this amendment.