Six Directorships Registration Proposals

Following the States of Guernsey's Policy & Resources Committee’s recent publication of its Consultation Paper on proposed revisions to the supervisory framework surrounding the six directorship exemption, the Commission will be hosting two meetings for interested persons at its offices on Glategny Esplanade on the following dates: 

Wednesday 21 December 2022 from 8.30am to 10am and on Monday 9 January 2023 from 8.30am to 10am.

At the start of each meeting, we will give a presentation on the proposals followed by discussion and questions over a coffee. These meetings will also be an opportunity for attendees to ask us for clarification on any aspect of the proposals.  We will also cover the Commission’s parallel consultation on Exemption of Directorships connected to Authorised and Registered Collective Investment Schemes issued today.

The Policy & Resources Committee’s proposals impact those individual Bailiwick residents who use an exemption in the Fiduciaries Law[1] which allows them to hold directorships of six or fewer companies without having to hold a fiduciary licence.  These proposals do not affect other exemptions from licensing in that law such as directorships of local trading companies based in Guernsey, or of a company quoted on a recognised stock exchange; or when the company is supervised by the Commission; or when an individual holds directorships in the course of their duties as an employee of a licensed trust and corporate services provider.

We would ask those wishing to attend to contact the Commission by Friday 16 December for the first meeting and by Thursday 5 January 2023 for the second meeting. Please send reservation requests to [email protected]. 

We would encourage anyone who is unsure whether their  directorship falls under the six directorships exemption and therefore the proposed registration regime, to attend.

The consultation on the proposed revisions to the supervisory framework surrounding the six directorship exemption closes on 16 January 2023 and the consultation on the Exemption of Directorships connected to Authorised and Registered Collective Investment Schemes closes on 23 January 2023.