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Sunshine Hotel Site - sale of: Use of proceeds for replacement asset

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

[THIS DECISION PARTLY RESCINDS MD-TR-2008-0087] A decision made 11 March 2011:

Decision Reference:  MD-TR-2011-0027

Decision Summary Title:

Application of capital receipts – Sunshine Hotel

Date of Decision Summary:

3rd March 2011

Decision Summary Author:

Treasurer of the States

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Application of capital receipts – Sunshine Hotel

Date of Written Report:

3rd March 2011

Written Report Author:

Head of Decision Support

Written Report :

Public or Exempt?

Exempt

3.2.1(a)(x)

Subject:  Application of capital receipts – Sunshine Hotel

Decision(s):  The Minister agreed, in accordance with Article 15(3) of the Public Finances (Jersey) Law 2005, that proceeds from the sale of the Sunshine Hotel site should be reapplied to purchase a replacement or other asset. As an interim measure these proceeds will be held in the Treasury and Resources contingency capital head of expenditure pending identification of specific use.

 

The Minister further agreed to rescind elements of decision MD-TR-2008-0087 of the previous Minister for Treasury and Resources in relation to the transfer value of assets from the Housing Development Fund to Jersey Property Holdings (JPH) which will have the effect that those assets will be transferred at nil value rather than carrying value.

Reason(s) for Decision:  Article 15(3) of the Public Finances (Jersey) Law 2005 states that the Minister may authorise a States funded body that has disposed of an asset to use all or any part of the proceeds of the sale to acquire a replacement or other asset.

 

MD-TR-2008-0087 contained provisions which were not capable of implementation. The Minister now wishes to rescind those parts of that decision that are no longer appropriate.

Resource Implications:  Detailed financial resource implications are set out in the accompanying report. No additional States spending is approved as a result of this decision. There are no manpower implications as a result of this decision.

Action required:  Head of Decision Support to inform the Director of Treasury Operations, Head of Financial Performance Reporting and Head of Financial Accounting that this Decision has been approved.

Signature:

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

               

Date Signed:

Date of Decision:

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