Guernsey's new company legislation has been praised
by a leading London lawyer.
More than 230 company directors, managers and administrators
attended Carey Olsen's seminar on 30 June entitled,
'A Practical Guide to the Guernsey Companies Law
Jonathan Baird, Partner at leading Magic Circle law firm
Freshfields Bruckhaus Deringer, gave a UK perspective on the
new legislation, which went live on 1 July.
"Guernsey is already a very popular location for listed
investment funds and the new Companies Law should help
consolidate this position, as well as potentially adding to
Guernsey's attractiveness for holding companies and
other corporate vehicles," said Mr Baird.
"Guernsey already has a reputation as a well regulated
jurisdiction with a pool of impressive local talent providing a
high quality and responsive service. Competition among offshore
jurisdictions can be strong so it is important to stay
up-to-date. The new Companies Law and the services of the new
Guernsey Company Registry should add to Guernsey's
"That said Guernsey cannot afford to take its eyes off
the competition so the option to add to the legislation should
not be discounted."
On the panel of speakers at the Carey Olsen seminar was John
Ogier, Deputy Company Registrar at the Guernsey Company
"The Company Registry and the new law go hand in hand,
and are very much intertwined. The Registry brings a new
culture of compliance that places Guernsey among the world
leaders of online company registry. However things are always
changing and we need to keep up with our competitors in terms
of accessibility, speed and cost effectiveness," said Mr
Chairing the seminar was Graham Hall, partner and head of
Carey Olsen's corporate and finance group.
"The Guernsey Companies Law is the result of three
years of work for the Commerce and Employment
Department's Registry Steering Group, and is the
biggest change to company law in more than 100 years. The
importance of the new law was reflected by the number and range
of people who attended the seminar," said Mr Hall.
Also on the panel of speakers at the seminar were two of
Carey Olsen's corporate and finance partners - Tom
Carey, who presented on the practical impact on company
administrators, and Andrew Boyce, who considered the practical
effects of the new law on the role and responsibilities of
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).