CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Red Ensign Conference Yields Positive Results For Jersey Registry

Red Ensign Conference Yields Positive Results For Jersey Registry

by Jason Gorringe, Tax-News.com, London

06 July 2012


The Jersey government has welcomed a number of positive developments emerging from the Red Ensign Conference, held in the Isle of Man in May, which provided a platform for Jersey to promote and agree upon areas of expansion for the island's shipping register.

The conference brought together thirteen crown dependencies and UK overseas territories entitled to register vessels under the British flag. Government delegates from as far afield as the Falkland Islands, Montserrat and the British Virgin Islands attended the conference together with representatives from the UK’s Department for Transport (DfT), Foreign and Commonwealth Office and the Maritime and Coastguard Agency.

This year, up to 60 delegates attended the conference and their discussions focused on safety, legislation, regulation, technical compliance and constitutional matters common to the various territories. Lawyers, surveyors and those associated with the maritime world were invited to networking events within the framework of the conference.

From Jersey's perspective, key points agreed at the conference included:

  • Endorsement of a new categorization order from the UK's DfT so that smaller registries will be able to take on all ship types up to 400 gross tons and not only pleasure craft. This will replace the present limit of 150 gross tons for commercial ships. It will allow the Jersey registry to administer larger craft, which the market now demands, and it is hoped the new categorization will be effective from January 2013;
  • Confirmation that the new 'large yacht code' (to be known as LY3) is to be published and launched at the 2012 Monaco Yacht Show in September. The code provides essential certification for large commercial yachts and has now been updated and recognized as a Red Ensign standard;
  • Obtaining agreement in principal to a new streamlined process for maritime conventions, which will speed up ratification for Red Ensign jurisdictions without compromising quality;
  • FCO acceptance of a reduced legislative framework for the Maritime Labour Convention for Registries which does not register vessels of more than 500 gross tons; and
  • A reminder to British Consuls overseas of their duties to support the interests of British and not just UK shipping worldwide.

Commenting, Minister for Economic Development, Alan Maclean, stated: “We can be very pleased with this progress. We took a strong delegation to the conference and came back with very positive results. I think the whole shipping industry in Jersey will benefit especially from the opportunity to register commercial super yachts.”

TAGS: tax | business | marine | law | international financial centres (IFC) | Jersey | United Kingdom | offshore | legislation

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »