Sunstone Holdings Ltd and De Lec Ltd (P.90/2013): Budget transfer from Central Contingency to Chief Minister's Department to fund Inquiry

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A decision made 26 September 2014:

Decision Reference: MD-TR-2014-0111
Decision Summary Title :	Sunstone Holdings Ltd and De Lec Ltd Inquiry – Central Contingency Funding Approval		Date of Decision Summary:	22 September 2014
Decision Summary Author:	Finance Manager, Corporate Group		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Sunstone Holdings Ltd and De Lec Ltd Inquiry – Central Contingency Funding Request		Date of Written Report:	22 September 2014
Written Report Author:	Finance Manager, Corporate Group		Written Report : Public or Exempt?	Public
Subject: Approval of Central Contingency allocation to fund the Sunstone Holdings Ltd and De Lec Ltd inquiry.
Decision(s): The Minister for Treasury and Resources approved a non-recurring budget transfer in 2014 of up to £57,800 from Central Contingency (one-off) to the Chief Minister’s Department (CMD) revenue head of expenditure to fund the Sunstone Holdings Ltd and De Lec inquiry.
Reason(s) for Decision: As part of the debate P90/2013 – “Sunstone Holdings Ltd and De Lec Ltd – ex Gratia Payments to Investors” the Chief Minister requested an independent expert be instructed to complete an independent review to clarify various points raised in the debate.
Resource Implications: The CMD revenue head of expenditure to increase by up to £57,800 in 2014 and Central Contingency (one-off) to reduce by an identical amount. This decision does not change the total amount of expenditure approved by the States for the period of the current MTFP 2013 to 2015.
Action required: Business Manager to notify the Finance Manager – Corporate Group and the Financial Performance Reporting Manager that the decision has been approved.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision (If different from Date Signed):