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Financial Services Ombudsman (Jersey) Law 2014: Law drafting instructions

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

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  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

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A decision made on 2 November 2020

Decision Reference: MD-E-2020-0051

Decision Summary Title

Financial ombudsman law drafting instructions

Date of Decision Summary

24 October 2020

Decision Summary author

Lead Policy Advisor, Financial Services

Decision Summary:

Public or exempt?

Public

Written Report

title

Financial ombudsman law drafting instructions

Date of Written Report

24 September 2020

Written Report author

Lead Policy Advisor, Financial Services

Written Report:

Public or exempt?

Public

Subject: Drafting instructions to amend the Financial Services Ombudsman (Jersey) Law 2014

Decision: The Minister approved drafting instructions to amend the Financial Services Ombudsman (Jersey) Law 2014.

Reasons for Decision: The drafting instructions are required for a change in the law that will provide greater flexibility for the future in the timing of the recruitment of board members of the Office of the Financial Services Ombudsman. It  follows a request from the Chair of the Board of to extend the terms of existing board members by one year. This is required because the planned recruitment process for current members was disrupted by the Covid-19 pandemic and has not taken place.

 

Resource Implications:  The decision will require to allocation of a Law Drafter’s time to draft minor amendments to the Financial Services Ombudsman (Jersey) Law 2014.

 

Action required: The Lead Policy Advisor, Financial Services is to inform the Principal Legislative Drafter of the decision.

Signature:

 

 

 

 

 

 

Senator Lyndon Farnham

Position:

 

Minister for Economic Development, Tourism, Sport and Culture

Date signed:

Date of Decision (If different)

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