A cannabis trade organisation for Jersey – the Cannabis Services Advisory Board – has been launched to help shape the next phase of the regulated cannabis sector in the British Isles.
The new board brings together businesses, legislators and other stakeholders in monthly meetings to act as an official conduit between the industry and government.
It provides input to government on commercial industry development issues, with a view to further regulation in the British Isles.
Board members so far include medical cannabis cultivation business Northern Leaf, cannabis production company Cicada and cannabinoids group Tenacious Labs.
Northern Leaf and Cicada hold newly approved commercial medical cannabis licences, allowing the cultivation and manufacturing of high-THC medical cannabis for the export market.
The board has been set up with support from the government to represent all interested parties in the emerging cannabis sector, ranging from growers to financial services.
It will promote Jersey worldwide as a financial centre for the sector with the appropriate legislation and regulation.
Legislative input
The Cannabis Services Advisory Board has already engaged with the Government of Jersey to update legislation, providing critical input and counsel around recent updates to the Proceeds of Crime (Jersey) Law 1999.
On 30 June, the States Assembly passed an amendment which, for the first time, allows businesses on the island to have direct or indirect involvement with legal cannabis sectors overseas without it or its directors falling foul of the Proceeds of Crime legislation – unlike elsewhere in the UK or US.
Tenacious Labs CEO Nick Morland (pictured), who chairs the new organisation, said: “The board provides an essential trade body for cannabis organisations in 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.”
Jersey's Deputy Chief Minister, Senator Lyndon Farnham, added: “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."