A new multi-stakeholder trade organisation, the Cannabis Services Advisory Board, has been established for the Island of Jersey that will help shape the next phase of the regulated cannabis sector on the British Isles.
In a landmark development for the cannabis industry, the new cannabis trade organisation, the Cannabis Services Advisory Board, has been established in Jersey to act as an official conduit between industry and government. The board has already been involved in providing counsel on an update to the Proceeds of Crime (Jersey) Law 1999 which will allow directors to be involved in legal cannabis sectors overseas for the first time.
The organisation will bring together businesses, legislators and other stakeholders in monthly meetings and will provide input to the Government on commercial industry development issues, with a view to further regulation within the Isles.
Promoting Jersey worldwide
The board has been established with support from the Government to represent all interested parties in the sector, including growers and financial services, and will promote Jersey across the globe as a centre of finance for the cannabis industry with the appropriate legislation and regulations.
Board members include medical cannabis cultivation company Northern Leaf, cannabis production company Cicada and cannabinoids group Tenacious Labs, and is open to additional members.
Cannabis Services Advisory Board chairperson, and CEO of Tenacious Labs, Nick Morland says: “The Board provides an essential trade body for cannabis organisations on Jersey. Not only does it take on an ambassadorial role for the industry attracting new investment from across the globe, it also provides a vital communication channel between those organisations and the Government of Jersey.
“Tenacious Labs is delighted to play a part in helping Jersey in its development of a strong and well-managed island industry for the long term, while also providing a benchmark for what an expertly represented cannabis sector can look like.”
Proceeds of Crime Law update
So far, the board has been engaged with the Government’s initiative to update legislation, having provided input and counsel around the Government’s update regarding the Proceeds of Crime (Jersey) Law 1999.
On 30 June, the States Assembly passed an amendment that allows businesses on the island to have direct or indirect involvement with legal cannabis sectors overseas for the first time. The amendment means that directors will not fall foul of the Proceeds of Crime legislation – which is currently not the case elsewhere, including the UK or USA.
Jersey Deputy Chief Minister and Minister for Economic Development, Tourism, Sport and Culture Senator Lyndon Farnham welcomed the establishment of the Cannabis Services Advisory Board.
He said: “We support the Cannabis Services Advisory Board’s work ensuring quality and safety for Jersey cannabis services and products. We are building a world-leading industry on the island and this kind of voluntary self-regulatory underpinning by those actively engaged with this emergent sector will ensure our products are first class.”
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