Some COBO consents are conditional on there being a fund permit under the CIF. Do such consents remain valid?
Some COBO consents contain the following wording: “On the basis of the information provided to the Jersey Financial Services Commission (the “Commission”), and for as long as a permit pursuant to the Collective Investment Funds (Jersey) Law, 1988, as amended to a functionary in respect of the Fund is in force, CONSENT IS HEREBY GRANTED pursuant to the Control of Borrowing (Jersey) Order 1958, as amended (the “Order”) in relation to the Fund”. Although certain fund service providers to unclassified funds are no longer required to hold a CIF permit, this will not invalidate their COBO consent. In time all COBO consents containing this wording will be replaced. If an amended COBO consent is required sooner, please contact the Commission. Please also refer to the guidance provided at point 6 above.
