Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

  • Choose the service you want to log in to:

  • gov.je

    Update your notification preferences

  • one.gov.je

    Access government services

  • CAESAR

    Clear goods through customs or claim relief

  • Talentlink

    View or update your States of Jersey job application

Former Clearview Street School (Scott Gibaut Trust): Letter of Comfort

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 (01.06.2009) to approve the issuing of a letter of comfort in relation to sale of the former Clearview Street School.

Decision Reference: MD-TR-2009-0078

 

Decision Summary Title :

Former Clearview Street School (Scott Gibaut Trust): Letter of Comfort

Date of Decision Summary:

27 May 2009

Decision Summary Author:

 

Assistant Director - Finance & Investment

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

N/A

Person Giving

Oral Report:

N/A

Written Report

Title :

N/A

Date of Written Report:

N/A

Written Report Author:

N/A

Written Report :

Public or Exempt?

 

N/A

Subject: Former Clearview Street School (Scott Gibaut Trust): Letter of Comfort

Decision(s):

1. The Minister approved the issuing of a letter of comfort to HSBC bank to support borrowing by the Scott Gibaut Trust in the sum of a maximum of £671,600 for the development of 7 No. one bed flats on the site of the former Clearview Street School.

2. The States will provide financial support to the Trust in respect of the repayments of the loan and will account for all interest charged over 6% to the Trust by the Bank in respect of this advance.

Reason(s) for Decision:

The States, in supporting Projet P65/2007 on 3/7/2007, approved the sale of the property at a nominal sum of £10. The accompanying report included reference to the issuing of a letter of comfort to limit the Trust’s interest rate exposure to a level of 6%.

Resource Implications:

The cost of providing for any interest charges above the 6% limit, from time to time, will be met from the Housing Development Fund.

Action required:

Treasurer of the States to issue a letter of comfort to HSBC Bank to reflect the above decision.

Signature:

 

 

Position: Senator  P F C Ozouf, Minister for Treasury and Resources

        

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

Back to top
rating button