Draft Companies (Annual returns – additional charge) (Jersey) Regulations 200-
REPORT
Previously the Registrar of Companies received company annual return fees, kept part for the costs of running the registry and remitted a sum of money to the Treasury of the States. Now as a result of a change in the law the annual return fee payable to the Treasury of the States and the fee payable to the Registrar are to be set separately by the States and the Financial Services Commission.
These Regulations specify the amount (£115) of the annual return fee that is to be paid by a company, collected by the Jersey Financial Services Commission and remitted to the Treasurer of the States.
Financial and manpower
statement
There will be no manpower implications for the States.
It is also envisaged that there will be no financial impact on the States as the aim is that the fee set in the proposed Regulations will maintain a level playing field in terms of the monies to be paid to the States in 2009 by the Commission. However because the fee is levied on each company that submits an annual return the total amount raised in 2009 may be slightly higher or lower than in 2008.
Explanatory
Note
The fee payable to the registrar of companies for the filing of a company’s annual return is now set and retained by the Jersey Financial Services Commission. These Regulations specify an additional amount (£115) that is to be paid by a company on filing a return. The additional amount will be collected by the Jersey Financial Services Commission and remitted to the Treasurer of the States.
