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Companies (Takeovers and Mergers Panel) (Jersey) Law 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

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A decision made (20/02/2009) regarding: Companies (Takeovers and Mergers Panel) (Jersey) Law 2009.

Decision Reference:  MD-E-2009-0029 

Decision Summary Title :

Appointed Day Act for the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009

Date of Decision Summary:

20 February 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Appointed Day Act for the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009

Date of Written Report:

20 February 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

Public

Subject:  

Companies (Takeovers and Mergers Panel) (Jersey) Law 2009 - Approval of the Appointed Day Act

Decision(s):

The Minister approved the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009 (Appointed Day) Act 200- and requested that it be lodged ‘au Greffe’ forthwith and with a view to securing a date for debate compatible with the intention to bring the Law into force on 1st June 2009.

Reason(s) for Decision:

The Appointed Day Act is required to bring into force the Companies (Takeovers and Mergers Panel) (Jersey) Law 2009 (“the Law”), which puts the existing informal arrangements for Jersey takeovers and mergers on a statutory basis.  Takeovers and mergers in Jersey have for some time been regulated by the Panel for Takeover and Mergers (“the Panel”), a body based in the UK.  The Law closely mirrors the equivalent UK legislation and will ensure that the Panel continues to act and has consistent functions and powers across all the jurisdictions regulated by them.   

The Law was adopted by the States on 16 July 2008, sanctioned by the Privy Council on 10 December 2008 and registered in the Royal Court on 2 January 2009.

Resource Implications:

There are no measurable financial or manpower costs for the States.

Action required:

The Appointed Day Act to be lodged au Greffe for debate by the States at the earliest opportunity. 

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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