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Jersey Bank Depositors Compensation Board: Interim Chair: Re-appointment

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A decision made 6 December 2024:

Decision Reference:  MD-ER-2024-960

Public

Subject: ​​Jersey Bank Depositors Compensation Board: Re-appointment of Interim Chairman​

 

Report Title: ​​Jersey Bank Depositors Compensation Board: Re-appointment of Interim Chairman​

Public

Decision(s):

The Minister decided to approve the re-appointment of Mr. M. Mitchell as the Interim Chairman of the Jersey Bank Depositors Compensation Board (the “Board”).

Reason for Decision(s):

Mr M. Mitchell was appointed as the Interim Chairman of the Board in March 2023 for a period ending the 31st December 2024. This shortened period was in anticipation of the transfer of the Board’s functions to the Jersey Resolution Authority (“JRA”) by the end of 2024. Since his appointment and the initiation of the work to transfer the functions to the JRA, the anticipated timeline for transfer has shifted to the 31st December 2025 to allow sufficient time to consult on technical legislative changes made. Further to this, it has been acknowledged that following the transfer of functions, the Board will need to remain in place to discharge residuary functions including giving effect to the transfer of final assets and completion of audited accounts. As such it is proposed that Mr. Mitchell be re-appointed as Interim Chair of the Board until March 2026.

Resource Implications: ​​There are no new financial and/or staffing implications.​

 

Action Required: ​​Officers to request the Greffier of the States to arrange for the item to be presented as a report to the States Assembly.​

Signature:

 

 

Signed By: Minister for External Relations

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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