Thursday, February 27th, 2025
Reporting, regulatory and governance considerations for Jersey Real Estate
Royal Yacht Hotel Weighbridge JE2 3NF Saint Helier
Details
Our upcoming JFA event will focus on real estate corporate governance and will underscore the critical importance of navigating the intricate regulations within the living sector. The first session will be Real Estate Focus – Bridging the Channel: Effective corporate governance of Jersey real estate structures.
As a leading IFC and jurisdiction of choice for holding UK and international real estate, Jersey’s corporate service providers must ensure effective and accountable governance. James Le Bailly and Kolade Areo from KPMG’s Real Estate Group will discuss this topic with a focus on financial reporting, giving consideration to the roles and responsibilities of accountants, administrators and TCWG at Jersey service providers. They will share insights as to where they have seen issues arise and where focus should be given to avoid these pitfalls.
Next, the focus will turn to the Building Safety Act 2022, which has introduced comprehensive legal reforms to building regulation, aiming for profound and sweeping changes in the industry. These reforms have already and will continue to significantly impact those responsible for properties in the living sector. Numerous regulations have been enacted under the Act, all of which carry substantial implications for directors in this field. The Act, along with its secondary legislation, creates a complex network of obligations and regulatory requirements concerning the safety and integrity of building structures, imposing new legal duties and liabilities with criminal penalties for non-compliance.
Nicholas Bartlett and Heather Tomlinson from Eversheds Sutherland, both experts in this domain, will guide you through the new landscape, offering clarity and insights on:
The key provisions of the Building Safety Act and their impact on directors' roles and responsibilities, including scenarios where the corporate veil may be pierced.
The allocation of responsibility and consequences for non-compliance.
Best practices for ensuring adherence to the Act's requirements and mitigating associated -risks
The broader effects of the Act on corporate governance, risk management, and strategic decision-making
Retrospective liability for defects and the risk of “contagion” across a corporate group
Current market observations, practical steps, and potential solutions.
The session will be taking place on Thursday 27 February at the Royal Yacht Hotel in St Helier with registration commencing at 8am.