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Jersey Bank Depositors Compensation Board: 2025/26 Budget: Approval

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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 11 December 2024:

Decision Reference:  MD-ER-2024-981

Public

Subject: Approval of Jersey Bank Depositors Compensation Board 2025/26 Budget

 

Report Title: Approval of Jersey Bank Depositors Compensation Board 2025/26 Budget

Public

Decision(s):

The Minister decided to approve the proposed budget for the Jersey Bank Depositors Compensation Board for 2025/26.

Reason for Decision(s):

Subject to a Memorandum of Understanding, the Jersey Bank Depositors Compensation Scheme Board (the Board) submit their annual budget and levy, per banking group, for ministerial approval. Upon the Minister's approval for publishing the notice, the Minister will formally respond to the Board to confirm approval of the submitted budget.

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

 

Action Required: Department to take necessary action.

Signature:

 

 

Signed By: Minister for External Relations

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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