Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Rayner Fund - HSBC Rights Issue.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 (01/04/2009) regarding: Rayner Fund - HSBC Rights Issue.

Decision Reference:  MD-TR-2009-0046

Decision Summary Title:

Rayner Fund

Date of Decision Summary:

1st April 2009

Decision Summary Author:

Jason Turner

Deputy Treasurer

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Rayner Fund – HSBC Rights Issue

Date of Written Report:

1st April 2009

Written Report Author:

Jason Turner

Deputy Treasurer

Written Report :

Public or Exempt?

Public

Subject: 

Rayner Fund – HSBC Rights Issue

Decision(s):

The Minister approved exercising an option to purchase 8491 HSBC shares under a rights issue.

Reason(s) for Decision:

The Ann Alice Rayner Fund administered in trust by the States has a holding in HSBC Bank Plc.  The bank has a rights issue in which existing shareholders are able to participate.

Resource Implications: 

Other than those detailed in the report there are no further financial or manpower Implications.

Action required:

Treasury Investment Officer to inform Northern Trust of the decision.

Signature: 
 

Position: Senator PFC Ozouf, Minister for Treasury and Resources

Date Signed: 1st April 2009

Date of Decision: 1st April 2009

Back to top
rating button