Jersey Harbours: Reduction of estimated contribution in 2012 Annual Business Plan

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A decision made 23 March 2012

Decision Reference: MD-TR-2012-0033
Decision Summary Title:	Reduced Contribution from Jersey Harbours for 2012 and Report to the States		Date of Decision Summary:	20 March 2011
Decision Summary Author:	Head of Decision Support		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Reduced Contribution from Jersey Harbours for 2012 and Report to the States		Date of Written Report:	20 March 2011
Written Report Author:	Head of Shareholder Relations		Written Report : Public or Exempt?	Public
Subject: Jersey Harbours reduction in estimated contribution in the 2012 Annual Business Plan and Report to the States
Decision(s): The Minister agreed to waive part of the contribution estimated by Jersey Harbours in 2012 to the sum of £81,317 and to present a Report to the States in compliance with Article 27(4) of the Public Finances (Jersey) Law 2005.
Reason(s) for Decision: Article 27 of the Public Finances (Jersey) Law 2005 states: “(4) If during that financial year the Minister with responsibility to the States for the States trading operation satisfies the Minister that the trading situation of the trading operation makes it impossible or difficult for the trading operation to contribute the minimum contribution agreed in accordance with paragraph (2)(b), the Minister may waive or delay payment of all or any part of the contribution. (5) The Minister shall at the first practicable opportunity advise the States of any action taken under paragraph (4), and the reason for taking the action, together with details of any revised estimates of the States trading operation.”
Resource Implications: The reduced contribution in 2012 of £81,317 from Jersey Harbours will be paid to the States of Jersey by SoJDC. There are therefore no financial implications for the States arising from this decision.
Action required: Head of Shareholder Relations to notify the Jersey Harbours’ Finance & Business Resource Director and the Head of Financial Performance Reporting that this decision has been approved. Greffier of the States to be requested to present the attached report to the States at the earliest available opportunity
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: