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Approval of the Bankruptcy (Desastre) (Pensions) (Jersey) Regulations 2006.

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 (05/10/2006) regarding Approval of the Bankruptcy (Desastre) (Pensions) (Jersey) Regulations 2006.

Subject:

Approval of the Bankruptcy (Désastre) (Pensions) (Jersey) Regulations 2006

Decision Reference:

MD-E-2006-0173

Exempt clause(s):

 

Type of Report:

(oral or written)

Written

Person Giving Report (if oral):

n/a

Telephone or

e-mail Meeting?

n/a

Report

File ref:

 

Written report – Title

Approval of the Bankruptcy (Désastre) (Pensions) (Jersey) Regulations 2006

Written report – Author

(name and job title)

Paul de Gruchy, Director Finance Industry Development

Decision(s):

To approve the Regulations and have the Regulations lodged au greffe for debate at the earliest opportunity.

Reason(s) for decision:

The Regulations will permit a bankrupt to retain certain benefits (provided they are not excessive) that he may have accrued under pension arrangements. This is in accordance with the public policy that people should be encouraged to make their own pension provisions, and that contributions that people make to pensions should not be viewed – by either debtors or creditors - as being available to meet day to day liabilities.

Action required:

The Director, Finance Industry Development to advise the Publications Editor and the Greffier of the States to lodge the Regulations at the earliest opportunity.

Signature:

Senator P.F.C.Ozouf

(Minister)

Date of Decision:

5 October 2006

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