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Economic Development: Memorandum of Understanding with Jersey Financial Services Commission

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 19 January 2012:

Decision Reference:  MD-E-2011-0133 

 

Decision Summary Title :

MOU with the Jersey Financial Services Commission

 

Date of Decision Summary:

19th January 2012

Decision Summary Author:

 

Director, Finance Industry Development

 

Decision Summary:

Public or Exempt?

 

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

 

n/a

 

Written Report

Title :

MOU with the Jersey Financial Services Commission

 

 

Date of Written Report:

19th January 2012

Written Report Author:

Director, Finance Industry Development

 

Written Report:

Public or Exempt?

 

Public

 

Subject:  

 

Memorandum of Understanding (MOU) with the Jersey Financial Services Commission.

 

Decision(s):

 

The Minister signed the appended MOU.

 

Reason(s) for Decision:

 

The MOU is an updated version of the original MOU between Economic Development and the Jersey Financial Services Commission dated March 2005, amended to reflect the change to Ministerial Government and changes to the Financial Services Commission (Jersey) Law 1998 made by L.33/2007.

 

Resource Implications:

 

There are no financial or manpower consideration for the States of Jersey.  

 

Action required:

 

The Minister to sign the MOU and direct that it be sent to the Jersey Financial Services Commission for signing.

 

Signature:

 

Senator AJH Maclean

Position:

 

Minister for Economic Development

 

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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