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Jersey Bank Depositors Compensation Board Annual Report and Audited Financial Statements for the year ended 31 January 2019

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 3 July 2019

MINISTERIAL DECISION REFERENCE

MD-ER-2019-0041

DECISION SUMMARY TITLE

Jersey Bank Depositors Compensation Board Annual Report and Audited Financial Statements for the Year Ended 31 January 2019

DECISION SUMMARY AUTHOR

Lead Policy Advisor, Financial Services

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 2019

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT

Lead Policy Advisor, Financial Services

IS THE REPORT PUBLIC OR EXEMPT?

Public

DECISION AND REASON FOR THE DECISION

Regulation 14(6) of the Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (Regulations) requires the Minister to lay the Annual Report and Audited Financial Statements (Accounts) of the Jersey Bank Depositors Compensation Board (Board) before the States.

 

Having received the Accounts for the year ended 31 January 2019 from the Board, the Minister for External Relations approved the laying before the States of the Accounts in accordance with Regulation 14(6).

 

The Accounts will be presented to the States as part of the “R” series of official reports.

 

RESOURCE IMPLICATIONS

There are no resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED

The Greffier of the States to be requested to take the necessary steps for the Accounts to be laid before the States at the earliest opportunity.

SIGNATURE

 

 

SENATOR IAN GORST

POSITION

 

MINISTER FOR EXTERNAL RELATIONS

 

EFFECTIVE IMMEDIATELY

DATE SIGNED

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