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States of Jersey: Investment Strategies: Amendment

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.

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  • 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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 3 November 2023:

Decision Reference:  MD-TR-2023-713

Public

Subject: ‘States Investment Strategies’ document amendment

 

Report Title: Amendment to the ‘States Investment Strategies’ document.

Public

Decision(s):

The Minister for Treasury and Resources decided to approve the amended ‘States Investment Strategies’ document and to present the updated document to the States Assembly.

Reason for Decision(s):

The Public Finances (Jersey) Law 2019 (the Law), part 4, Article 25, section (3) and (4), requires that any amendments to the investment strategy are presented to the States Assembly, and that the Minister must consult a person suitably qualified to provide investment advice, in preparation of such amendments. A comprehensive description of the amendments is outlined in the accompanying Written Report.  In accordance with the Law, investment strategies are maintained for States investments and approved by the Minister. Under advice from the Treasury Advisory Panel adoption of the updated Investment Strategy Document is recommended.

Resource Implications: There are no resource implications from this decision. Any costs stemming from strategy changes will be met from sale proceeds and are expected to be minimal. The changes to strategy will be administered as part of the ongoing responsibilities within the Treasury & Investment Management Team.

 

Action Required: The Minister’s Private Secretary to advise the Head of Treasury and Investment Management when the decision has been signed. The Greffier of the States is requested to arrange for the Investment Strategy Document to be presented to the States. The Treasury and Investment Management Team will ensure changes are implemented.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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