The aim of the proposals is to make sure that non-profit-making organisations such as Jersey Hospice Care and Durrell Wildlife are not being used to finance terrorists.
The legislation will bring Jersey into line with recent changes in the UK and internationally, as required by the Financial Action Task Force.
The legal requirements are considered particularly crucial at present because the Island’s financial regulation is to be assessed by the International Monetary Fund (IMF) in October. That assessment will provide the basis on which other countries will regard Jersey in the future, particularly in relation to financial services business.
The proposals announced today will affect not only charities, but also church organisations, cultural organisations like the Jersey Arts Centre and the Jersey Eisteddfod.
