Ports of Jersey Limited: Trading Fund Balance: Cash transfer as at 1 October 2015

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A decision made 1 October 2015:

Decision Reference: MD-TR-2015-0105
Decision Summary Title:	Ports of Jersey Limited: Trading Fund Balance – Cash Transfer as at 1st October 2015.		Date of Decision Summary:	1st October 2015
Decision Summary Author:	Head of Shareholder Relations		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Ports of Jersey Limited: Trading Fund Balance – Cash Transfer as at 1st October 2015.		Date of Written Report:	1st October 2015
Written Report Author:	Head of Shareholder Relations		Written Report : Public or Exempt?	Public
Subject: Ports of Jersey Limited: Trading Fund Balance – Cash Transfer as at 1st October 2015.
Decision(s): The Minister for Treasury and Resources approved the transfer of £17,571,427 from the Consolidated Fund to Ports of Jersey Limited, in accordance with the principles of the Air and Sea Ports(Incorporation) (Jersey) Law 2015 and the Air and Sea Ports Incorporation (Transfer) (Jersey) Regulations 2015.
Reason(s) for decision: In accordance with the principles of the Air and Sea Ports (Incorporation) (Jersey) Law 2015 and the Air and Sea Ports Incorporation (Transfer) (Jersey) Regulations 2015.
Resource Implications: The sum of £17,571,427 will be transferred from the Consolidated Fund to the bank account of Ports of Jersey Limited. This represents 95% of the total estimated sum due to Ports of Jersey Limited as at the close of business on 30th September 2015. This sum is subject to further adjustments and final verification. This final verification will take place as part of the year end procedures and production of the States Accounts as at 31st December 2015. At this point any residual sum due to Ports of Jersey Limited will be transferred to them.
Action required: The Treasurer of the States to authorise the transfer of the funds to Ports of Jersey Limited. Head of Shareholder Relations to advise the Finance Director of Ports of Jersey Limited of this decision and to confirm the date on which funds will be transferred.
Signature:		Position: Senator A J H Maclean, Minister for Treasury and Resources
Date Signed:		Date of Decision: