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Bank (Recovery and Resolution) (Amendment - Composition of Authority) (Jersey) Order 2022

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 21 January 2022

MINISTERIAL DECISION REFERENCE: MD-ER-2022-0005

DECISION SUMMARY TITLE:   Bank (Recovery and Resolution) (Amendment – Composition of Authority (Jersey) Order 2022

 

DECISION SUMMARY AUTHOR:

Associate Director, Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:   Bank (Recovery and Resolution) (Amendment – Composition of Authority (Jersey) Order 2022

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT: 

Associate Director, Financial Services

IS THE REPORT PUBLIC OR EXEMPT

Public

DECISION AND REASON FOR THE DECISION:

The Minister for External Relations and Financial Services signed the Bank (Recovery and Resolution) (Amendment – Composition of Authority (Jersey) Order 2022.  The Order amends Article 5 of the Bank (Recovery and Resolution) (Jersey) Law 2017 to remove the requirement that one of the members of the Jersey Resolution Authority should be a representative of the Minister for External Relations and Financial Services. The Order will come into force at the same time as the Law that it amends.

RESOURCE IMPLICATIONS: 

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

ACTION REQUIRED: 

The Associate Director, Financial Services is to:

  1. notify the Greffier of the States that the Minister made the Order; and
  2. forward the signed and sealed Amendment to the Order to the Publications Editor, States Greffe.

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

MINISTER FOR EXTERNAL RELATIONS AND FINANCIAL SERVICES

 

 

DATE SIGNED:     

EFFECTIVE DATE OF THE DECISION (if different)

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