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Andium Homes Limited: New Memorandum and Articles of Association

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A decision made 23 February 2024:

Decision Reference:  MD-TR-2023-714

Public

Subject: New Memorandum and Articles of Association for Andium Homes Limited

 

Report Title: WR - Approval of new Memorandum and Articles of Association for Andium Homes Limited

Public

Decision(s):

The Minister for Treasury and Resources decided:   • to approve the new Memorandum of Association for Andium Homes Limited (Andium); and  • to lodge a report and proposition for consideration by the States Assembly recommending the approval of the Articles of Association for Andium.

Reason for Decision(s):

Priority number 13 of the former Minister’s 2023 Ministerial Plan involves developing the governance arrangements for arm’s length bodies, which includes 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 has been drafted for Andium and has been agreed with the Andium Board.  The proposed new Memorandum and Articles of Association has been subject to legal review.  Article 90 of the existing Andium Articles of Association provide that the Articles 'shall not be amended other than by Report and Proposition lodged by the Guarantor (the States of Jersey) having consulted the Minister for Housing and Communities and passed by the States Assembly'.  The former Minister for Housing and Communities was consulted through this process.

Resource Implications: There are no financial or manpower implications for the States 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 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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