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Jersey Post - Amendment of Articles of Association.

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.

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A decision made (18/02/2008) regarding: Jersey Post - Amendment of Articles of Association.

Decision Reference: MD-TR-2008-0019

Decision Summary Title:

Jersey Post – Amendment of Articles of Association

Date of Decision Summary:

11 February 2008

Decision Summary Author:

George Butler – Strategic Investments Manger

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

George Butler – Strategic Investments Manger

Written Report

Title:

Jersey Post – Amendment of Articles of Association

Date of Written Report:

11 February 2008

Written Report Author:

George Butler – Strategic Investments Manger

Written Report :

Public or Exempt?

Public

Subject: 

Amendment of the Articles of Association of Jersey Post International Limited in respect of the appointment of Non-executive Directors.

Decision(s):

The Minister agreed to amend the Articles of Association of Jersey Post International Limited so that theyrequire the appointment and re-election of Non-executive Directors on a rotational basis.

Reason(s) for Decision:

The existing Articles of Association contain no requirement for Non-executive Directors to retire on a rotational basis. Best practice, the Combined Code on Corporate Governance – Issued by the UK Financial Reporting Council, recommends that all Non-executive Directors be required to retire and be re-elected or replaced on a rotational basis.

Resource Implications:

This decision has no resource implications.

Action required:

The Treasurer and Strategic Investments Manager are directed to sign the attached special resolution authorising the amendment of the Jersey Post International Limited Articles of Association.

Signature: 
 

Position: Senator T A Le Sueur, Minister for Treasury and Resources 

                 

Date Signed: 18th February 2008

Date of Decision: 18th February 2008

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