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States of Jersey Development Company Limited: Annual General Meeting 2021 Voting 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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The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made on 21 May 2021

Decision Reference: MD-TR-2021-0064

Decision Summary Title:

SoJDC - 2021 Annual General Meeting voting instructions

Date of Decision Summary:

10 May 2021

Decision Summary Author:

Advisor - Shareholder Relations

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

SoJDC - 2021 Annual General Meeting voting instructions

Date of Written Report:

10 May 2021

Written Report Author:

Advisor - Shareholder Relations

Written Report:

Public or Exempt?

Exempt

Articles 26 and 33

Subject:

States of Jersey Development Company Limited (“SoJDC”) - 2021 Annual General Meeting voting instructions.

Decision(s): 

 

The Assistant Minister instructed the Treasurer and the Greffier of the States to vote in favour of the proposed resolutions on behalf of States of Jersey Investments Limited:-

 

  • as Nominee and Trustee for the Minister for Treasury and Resources in accordance with the Declarations of Trusts, to exercise his voting power in favour of the proposed resolutions

 

The ordinary resolutions are:

 

  1. To receive the minutes of the previous Annual General Meeting and approve the content by ordinary resolution.
  2. To reappoint the auditors of the Company, Ernst & Young LLP by ordinary resolution to hold office until the next Annual General Meeting at which accounts are laid before the Company and that their remuneration be determined by the directors.
  3. To receive the annual remuneration report of the Remuneration & Nominations Committee for 2020 and approve by ordinary resolution the remuneration that was agreed by that Committee.
  4. To receive the reports to the financial statements and the audited financial statements for the year ended 31 December 2020 and approve by ordinary resolution.

 

Reason(s) for Decision:

To fulfil the States’ role as shareholder of SoJDC by exercising voting rights at the 2021 Annual General Meeting.

 

Resource Implications: 

There are no additional resource implications as a result of this decision.

Action required:

The Head of Financial Governance to inform the Head of Shareholder Relations that this decision has been approved. The Treasurer of the States and the Greffier of the States are instructed to vote in respect of their nominee shareholdings in favour of each of the resolutions.

Signature:

 

 

Position:  Deputy L Ash, Assistant Minister for Treasury and Resources

Date Signed:

 

Date of Decision:

 

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