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Dormant Bank Accounts (Notices, Fees and Terms of Agency) (Jersey) Order 2017

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 13 July 2017:

MINISTERIAL DECISION REFERENCE:    MD-C-2017

DECISION SUMMARY TITLE:  Dormant Bank Accounts (Notices, Fees and Terms of Agency) (Jersey) Order 2017

DECISION SUMMARY AUTHOR:

Lead Policy Adviser, Financial Crime and Private Wealth

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  Dormant Bank Accounts (Notices, Fees and Terms of Agency) (Jersey) Order 2017

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Lead Policy Adviser, Financial Crime and Private Wealth

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Dormant Bank Accounts (Notices, Fees and Terms of Agency) (Jersey) Order 2017 (the “Order”) makes provision for the purposes of the Dormant Bank Accounts (Jersey) Law 2017.

 

An Appointed Day Act for the Dormant Accounts (Jersey) Law 2017 (the “Law”) was debated in the States Assembly on 4 July 2017 and the Law will come into force on 17 July 2017.

 

The Order particularly makes provision for Notices, Fees and Terms of Agency under the Dorman Accounts Regime. Notices are required to be submitted to the Chief Ministers concerning the dormant accounts held by a bank in Jersey and the intended transfers of the balances of those accounts. Equally the Order deals with matters of exchange rates, fees and terms of any agency agreement between the Chief Minister on behalf of the Fund and a bank in which a dormant account was held.

 

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED:

That the Chief Minister sign and seal the Order and it be returned to the States Greffe for immediate publication and for notification to the States Assembly.

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

CHIEF MINISTER OF JERSEY

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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