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Starter Home Deposit Loan Scheme - Pilot: Dwelling Houses Loans Fund transfer to Consolidated Fund

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.

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  • 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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 9 July 2013:

Decision Reference: MD-TR-2013-0057

Decision Summary Title:

Transfer from Dwelling Houses Loans Fund  to the Consolidated Fund

Date of Decision Summary:

27th June 2013

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:

Transfer from Dwelling Housing Loan Fund  to the Consolidated Fund

Date of Written Report:

27th June 2013

Written Report Author:

Head of Shareholder Relations

Written Report :

Public or Exempt?

Public

Subject: Dwelling Houses Loans Fund transfer of funds to the Consolidated Fund (cash balances) to provide cash balances for the pilot Starter Home Deposit Loan Scheme

 

Decision(s): The Minister approved the transfer of £3,000,000 from Dwelling Houses Loan Fund to Consolidated Fund (cash balances) to be used for the pilot Starter Home Deposit Loan Scheme.

 

Reason(s) for Decision:  The proposal for the transfer of £3,000,000 to be used for a pilot Starter Home Deposit Scheme was approved by the States on 16th April 2013 (P.131-2012).

 

Resource Implications:  This will reduce the Dwelling Houses Loan Fund by £3,000,000 and temporarily increase the Consolidated Fund (cash balances) until the funds are drawn down for the pilot Starter Home Deposit Loan Scheme.

 

Action required: The Head of Shareholder Relations to arrange the transfers of monies, which will continue to be invested in the short term in the Common Investment Fund until these monies are required.

 

Signature:

 

 

 

 

Position: Senator  P F C Ozouf, Minister for Treasury and Resources

 

                 

 

Date Signed:

 

Date of Decision:

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