What is the definition of a Professional Client for investment business (as defined in the Financial Services (Jersey) Law 1998, as amended [FSJL]) in Jersey?  Please note the definition will change for different activities for example the following jersey private placement fund guide differs from

1. per se Professional Client means either a Large Undertaking or Professional Investor.

2. Professional Investor means,

• a government, local authority, public authority or supra-national body (wherever established); or
• a person, partnership, unincorporated association or body corporate whose ordinary business or professional activity includes or it is reasonable to expect that it includes

i. acquiring, underwriting, managing, holding or disposing of investments whether as principal or agent or

ii. the giving of advice on investments.

3.Large Undertaking – means a client in relation to which at least two of the following three criteria are satisfied:

• balance sheet total assets of not less than £13,000,000
• net turnover of £26,000,000 or greater; or
• net assets of £1,300,000 or greater.

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