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Jersey Bank Depositors Compensation Board: Annual Report and Accounts for year ending 31 January 2016

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.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • 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

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 28 July 2016:

MINISTERIAL DECISION REFERENCE: MD-C-2016-0089

DECISION SUMMARY TITLE:  Decision to lay annual report before the States of Jersey

DECISION SUMMARY AUTHOR:

Director, Finance Industry Development, Financial Services Unit

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  The Jersey Bank Depositors Compensation Board Annual Report and Audited Financial Statements for the year ended 31 January 2016

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Jersey Bank Depositors Compensation Board

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The annual report and accounts for the year ending 31 January 2016 of the Jersey Bank Depositors Compensation Board (the “Board”) have been prepared and audited, approved by the Board and laid before the Chief Minister in accordance with the Regulation 14 of the Banking Business (Deposit Compensation) (Jersey) Regulations 2009 (the “Depositors Compensation Regulations”). 

 

Acting under delegated powers from the Chief Minister who is carrying out the functions of the Jersey Bank Deposit Compensation (the “Board”), the Assistant Chief Minister approved the laying of the annual report and accounts before the States of Jersey as required under Regulation 14(6) of the Depositors Compensation Regulations.

 

RESOURCE IMPLICATIONS:

There are no resource implications.

ACTION REQUIRED:

The Assistant Chief Minister requests officers to ask the Greffier of the States to arrange for the annual report and accounts to be presented to the States for their information at the earliest possibility.

SIGNATURE:

 

 

 

POSITION:

 

SENATOR P.F.C. OZOUF

ASSISTANT CHIEF MINISTER OF JERSEY

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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