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Press Release - 10 April 2006

Commission launches new online filing system

The Jersey Financial Services Commission today announces the launch of the first phase of the Companies Registry’s e-business initiative.

Phase one is to provide an online filing system. This system will allow Registry users to file documents electronically. Initially three type of process will be accessible through the system, which are:

· reserving a company name;
· changing a company’s registered office; and
· submitting an annual return.

Submissions previously requiring a hand written signature will now be possible using an electronic signature based on a PIN and a pass code.

The service is available for immediate use including those companies that have yet to file an annual return for 2006.

The system uses the same leading edge technology as used by the Irish and Norwegian companies registries and has therefore been tried and tested. The Jersey Registry is embarking on a programme of e-business development, which will include online searching and online incorporation for reserved companies. Today’s launch is only the start of a process that will unfold over the next few years. To make the system realise its full potential the Registry is seeking help from its users and is encouraging feedback.

The Commission’s Director General, David Carse, said:

“This is the first phase of the Companies Registry e-business initiative which provides for online filing. Further forms and functionality will be added during the year and thereafter. The aim is to bring the administration of a Jersey incorporated company into the electronic age, which will increase the value and accessibility of the services provided by the Companies Registry and make Jersey an even more attractive location for company incorporations.“

Online filing is accessible from the Commission’s website www.jerseyfsc.org or directly from www.easycompanyregistry.je .

- Ends -

For further information please contact: -

Julian Lamb, Deputy Registrar
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822067
Fax:+ 44 (0) 1534 822003
Email: j.lamb@jerseyfsc.org

Notes to Editors.

A “reserved company” is a company incorporated by a regulated person for transfer to a client at a future date.

The Registry processed 29,721 annual returns manually in 2005.

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