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P.86/2009 Amd. (2) and (3). - Comments on Depositor Compensation Scheme

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.

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A decision made 30 October 2009 regarding: P.86/2009 Amd. (2) and (3). - Comments on Depositor Compensation Scheme.

Decision Reference:  MD-E-2009-0195 

Decision Summary Title :

Comments on P86/2009/Amd.(2) and P86/2009/Amd.(3)

Date of Decision Summary:

2 November 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Oral

Person Giving

Oral Report:

Finance Industry Development Executive

Written Report

Title :

n/a

Date of Written Report:

n/a

Written Report Author:

n/a

Written Report :

Public or Exempt?

n/a

Subject:    

Comments on P86/2009/Amd.(2) and P86/2009/Amd.(3)

Decision(s):  

The Minister approved the Comments on the following Amendments and requested that these be presented to the States Assembly forthwith: 

  1. P86/2009/Amd.(2) - draft Banking Business (Depositors Compensation) (Jersey) Regulations 200- (P.86/2009): second amendment; and
  2. P86/2009/Amd.(3) - draft Banking Business (Depositors Compensation) (Jersey) Regulations 200- (P.86/2009): third amendment;

 

Reason(s) for Decision: 

The draft Banking Business (Depositors Compensation) (Jersey) Regulations 200- (“the DCS Regulations”) will establish a Depositor Compensation Scheme in Jersey.  The Economic Affairs Scrutiny Panel has lodged two Amendments to the DCS Regulations.  The Economic Development Minister opposes the substantive Amendments and wishes to set out his reasoning for doing so to States Members.   

Resource Implications: 

There are no financial and manpower implications for the States.

Action required: 

The Greffier of the States to be requested to present the comments to the States.

Signature:  Senator A.J.H.Maclean 

Position: Economic Development Minister

Date Signed: 

Date of Decision (If different from Date Signed): 
 

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