Financial Services Commission (Limitation of Liability) Ordinance, 1990

Summary

This is a short 1990 Ordinance of the States of Guernsey that limits the legal liability of the Guernsey Financial Services Commission and the States of Guernsey itself. It protects them from being sued for things done, or not done, while carrying out functions under the Financial Services Commission (Bailiwick of Guernsey) Law, 1987.

• Scope of protection: No liability attaches to the Commission or the States of Guernsey for acts or omissions after the Ordinance came into operation, done in discharge or purported discharge of functions under the 1987 Law.
• Exception: The protection does not apply if the act or omission was done in bad faith.
• Citation: The Ordinance may be cited as the Financial Services Commission (Limitation of Liability) Ordinance, 1990.

The Ordinance does not impose any requirements, filings, or compliance duties on banks, funds, insurers, trust companies or other regulated entities. It is purely an internal immunity provision protecting the regulator and the States of Guernsey, and remains in force unchanged.

Related documents

• This document is made under Financial Services Commission (Bailiwick of Guernsey) Law, 1987 (Consolidated text)