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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Financial Services Commission (Amendment of Law No. 2) (Jersey) Regulations 201-

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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 7 March 2014:

Decision Reference:       MD-C-2014-0036

Decision Summary Title :

Draft Financial Services Commission (Amendment of Law No. 2) (Jersey) Regulations 201-

Date of Decision Summary:

7 March 2014

Decision Summary Author:

 

Director of Financial Services

Decision Summary:

Public or Exempt?

(If exempt, state clauses from Code of Practice booklet)

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title :

Draft Financial Services Commission (Amendment of Law No. 2) (Jersey) Regulations 201-

Date of Written Report:

7 March 2014

Written Report Author:

Director of Financial Services

Written Report :

Public or Exempt?

(If exempt, state clauses from Code of Practice booklet)

Public

 

Subject:  Approval of the Financial Services Commission (Amendment of Law No. 2) (Jersey) Regulations 201- (the “Draft Regulations”) for lodging.

 

Decision(s): The Chief Minister approved the Draft Regulations and the attached report and directed that the documents be lodged au Greffe for debate by the States at the earliest opportunity.

 

Reason(s) for Decision:  The Draft Regulations make a minor change to Schedule 1 of the Financial Services Commission (Jersey) Law 1998 (the “Law”) to remove what is currently a provision obliging a Commissioner to retire on reaching the age of 72 years.  A policy decision has been made that there should not be an age limit stated in the Law by which a Commissioner is required to retire.

 

Resource Implications:  There are no financial or manpower implications for the States of Jersey arising as a result of this decision.

 

Action required:  The Draft Regulations and attached report are to be lodged au Greffe for debate by the States at the earliest opportunity.

 

Signature:

  

 

Senator I.J. Gorst

Position:

 

 

Chief Minister of Jersey

Date Signed:

 

Date of Decision (If different from Date Signed):

 

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