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AXA Sun Life PLC - Transfer Scheme.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 (31/08/2006) regarding Invitation for Minister to comment upon an amendment to the AXA Sun Life PLC Transfer Scheme.

Subject:

Invitation for Minister to comment upon an amendment to the AXA Sun Life Plc Transfer Scheme

Decision Reference:

MD-E-2006-0144

Exempt clause(s):

 

Type of Report:

(oral or written)

Written

Person Giving Report (if oral):

 

Telephone or

e-mail Meeting?

 

Report

File ref:

 

Written report – Title

AXA Sun Life – Amendment to Transfer Scheme

Written report – Author

(name and job title)

Paul de Gruchy, Director, Finance Industry Development

Decision(s):

To notify the Jersey Financial Services Commission that the Minister has no comments to make in respect of the amendment to the transfer scheme.

Reason(s) for decision:

The Minister relies on the conclusions of the Commission, based upon an actuarial report, to the effect that policyholders will not be prejudiced by the amendment to the transfer scheme.

Action required:

PDG to notify Commission that the Minister has no comment to make and that the Royal Court be informed that he has no objections or comments to make in respect of the amendment to the transfer scheme.

Signature:

Connetable G.W.Fisher

(Assistant Minister)

Date of Decision:

31 August 2006

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