Novation of Development Agreement

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A decision made (03.08.06) to allow the Novation of Development Agreement - site of Catherine Quirke House.

Subject:	Novation of Development Agreement : Sandringham Investments Limited, Cool Waters Limited and Dandara (Sandringham) Limited- Site of Catherine Quirke House, St Helier
Decision Reference:	MD-PH-2006-0060	Exempt clause(s):		None
Type of Report: (oral or written)	Written	Person Giving Report (if oral):		N/A
Telephone or e-mail Meeting?	N/A	Report File ref:		NS 16/23/1-4
Written Report – Title	Novation of Development Agreement : Sandringham Investments Limited Cool Waters Limited and Dandara (Sandringham) Limited- Site of Catherine Quirke House, St Helier	Written report - author		Neil Sproston
Decision(s): 1. That further to the Ministerial Approval dated 17 July 2006 in respect of the existing development agreement dated 2 February 2005, the Public’s consent be issued, to allow the novation agreement to be entered into that provides for the substitution of Sandringham Investments Limited and Cool Waters Limited for Dandara (Sandringham) Limited with the Public’s reasonable professional fees incurred being met. 2. Under Standing Order 168 (1) (a) and 168 (3) the Minister for Treasury and Resources hereby notifies the States that he has accepted the recommendation of Property Holdings to agree to the above land transaction. The Minister hereby authorises the Attorney General and the Greffier of the States to pass any contracts on behalf of the Public of Jersey that may be necessary. After the expiry of 15 days following presentation to the States the transaction may be concluded.
Reason(s) for decision: Since the terms of the existing development agreement are otherwise unaffected by the novation agreement and transfer of contractual rights and responsibilities from Sandringham Investments Limited and Cool Waters Limited to Dandara (Sandringham) Limited, the Public’s position is not considered to be prejudiced by this proposal.
Action required: In accordance with Standing Order 168(3) of the Standing Orders of the States of Jersey, this decision must be presented to the States at least 15 working days before the contract is passed before the Royal Court. The Director of Property Holdings is to instruct the Law Officers’ Department and the States Greffe to pass the necessary contract, and to copy this decision to the Minister.
Signature: (Assistant Minister) John le Fondre			Date of Decision: 03 August 2006