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States of Jersey Development Company (SoJDC): Articles of Association: Approval

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A decision made 26 April 2024:

Decision Reference:  MD-TR-2024-324

Public

Subject: Approval of new Articles of Association for The States of Jersey Development Company Limited

 

Report Title: WR - Approval of new Articles of Association for The States of Jersey Development Company Limited

Public

Decision(s):

The Minister for Treasury and Resources decided to lodge 'au Greffe' a Proposition for consideration by the States Assembly which recommended the approval of the new Articles of Association for the States of Jersey Development Company Limited (SoJDC).

Reason for Decision(s):

Priority number 13 of the former Minister’s 2023 Ministerial Plan involved the development of the governance arrangements for arm’s length bodies, which included the States-owned entities (SOEs).  Following the adoption of new Memoranda of Understanding with the wholly owned SOEs in May 2022, the Shareholder team commenced a project to review the Memorandum and Articles of Association for these same entities.  A new Memorandum and Articles of Association for the SoJDC have been drafted and agreed with the SoJDC Board.  The proposed new Memorandum and Articles of Association have been subject to legal review.

Resource Implications: There are no financial or manpower implications arising from this decision.

 

Action Required: The Minister’s Private Secretary to notify the Head of Shareholder Relations that the decision has been approved.   The Greffier of the States to be requested to arrange for the Proposition to be lodged 'au Greffe' and debated at the earliest possible date.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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