Businesses and companies in Jersey will have today received many new consents issued under the Control of Borrowing (Jersey) Order 1958 ("COBO").  These consents replace existing COBO consents issued to Jersey companies with immediate effect.

Changes have been made to the COBO consents in order to ensure disclosure of changes in the beneficial ownership of such companies within 21 days of any change.  In addition, with some exceptions for companies administered by Jersey trust companies or those holding certificates as Jersey investment funds, companies will need to file details of beneficial ownership on or before 30 June 2017.  Pinel Advocates is able to help with this process.

These changes stem from the recently issued Policy Document from issued by the Chief Minister's Department on 2 November, a copy of which may be found by clicking here.

Pinel Advocates issued an earlier briefing on this and further changes in a news release of 15 November 2016, which may be found by clicking here.

For more information, please contact David Yetman.