Jersey has implemented a series of legal and regulatory changes aimed at making itself a more attractive jurisdiction for incorporating companies. These changes bring additional flexibility and a wider range of options for setting up companies in the island. The measures are aimed at those establishing special purpose companies, group holding companies or joint venture vehicles. Some changes took effect in January 2008, including the introduction of treasury shares, the abolition of the financial assistance provision, increased flexibility to the format of cell companies incorporated in Jersey and a change in the law so that a regulated financial services business can now act as a corporate director of another Jersey company. In the second quarter of 2008 further law changes will come into force which simplify procedures when certain types of companies wish to reduce capital or make distributions to shareholders. There will also be a relaxation of the rules on share buy-backs. The later legal amendments will also include new provisions designed to make Jersey a more attractive jurisdiction for public limited companies including the ability for public companies to use the suffix "plc" as an alternative to "limited".