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Designation of Recognized Enitities under Foundations (Mergers) (Jersey) Regulations 2009.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 30 November 2009 regarding: Designation of Recognized Enitities under Foundations (Mergers) (Jersey) Regulations 2009.

Decision Reference:   MD-E-2009-0214 

Decision Summary Title :

Designation of Recognized Entities under Foundations (Mergers) (Jersey) Regulations 2009

Date of Decision Summary:

27 November 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Designation of Recognized Entities under Foundations (Mergers) (Jersey) Regulations 2009

Date of Written Report:

27 November 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:    

Designation of Recognized Entities under Foundations (Mergers) (Jersey) Regulations 2009

(“the Regulations”).

Decision(s):  

The Minister designated Recognized Entities as per the attached Notice and directed the Notice to be published on the States web-site and Jersey Evening Post Gazette.

Reason(s) for Decision: 

The Regulations provide for recognized entities, as designated by the Minister for Economic Development, to merge with Jersey foundations.  The bodies listed in the Notice are considered to be similar in nature to Jersey foundations and therefore appropriate vehicles for merger.

This list has been subject to consultation with industry through Jersey Finance Limited, which supports the designation.

Resource Implications: 

There are no measurable financial or manpower costs for the States.  The Jersey Financial Services Commission and the Registrar will have costs associated with considering proposed mergers for approval but these costs will be passed on to those seeking the merger.  Overall, the measures will be revenue positive.

Action required: 

The Notice to be published on the States web-site and Jersey Evening Post Gazette

Signature:  Senator A.J.H.Maclean  
 

Position:  Minister for Economic Development

Date Signed: 
 

Date of Decision (If different from Date Signed): 

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