Jersey has passed an amendment to introduce an explicit statutory exemption from any liability to tax in Jersey for investment funds and certain capital markets issuers. The Income Tax (Amendment No 36) (Jersey) Law 2010 provides clarity in relation to the tax treatment of investment funds, their investment holding companies and certain categories of capital markets issuer in Jersey.
The Channel Islands Stock Exchange, LBG offers a fast document turnaround time, competitive pricing, international standards of issuer regulation and a pragmatic approach to disclosure requirements. This update highlights the principal requirements and key issues to be considered when considering the listing of structured debt securities on the exchange.
Companies in the United Kingdom are facing needs to recapitalize their balance sheets and raise money from their assets. Convertible and exchangeable bonds offer a way of meeting these various requirements. Structuring a convertible or exchangeable bond issue using a Jersey cash-box structure can make it easier to implement the bond issue and may also offer other benefits.
Structuring a rights issue for a UK listed company using a Jersey cash box vehicle can make it easier to implement and add to the benefits therefrom. The advantages that a cash box structure offers are flexibility in relation to making the offer and, in relation to the proceeds of the issue of the shares, the availability of merger relief under the UK Companies Act.
The new Jersey Listed Fund Guide has been launched. The guide introduces a streamlined process for authorizing and establishing closed-ended collective investment funds that are listed on a stock exchange recognized by the commission, reducing the authorization period from four to six weeks to three working days, provided that the requirements of the guide are complied with.