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Jersey Innovation Fund - Advisory Board Remuneration

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A decision made 23 July 2014:

Decision Reference: MD-E-2014-0065

Decision Summary Title :

Jersey Innovation Fund – Advisory Board Remuneration

Date of Decision Summary:

23 July 2014

Decision Summary Author:

 

Project & Research Officer

Decision Summary:

Public or 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 :

Jersey Innovation Fund – Advisory Board Remuneration

Date of Written Report:

23 July 2014

Written Report Author:

Project & Research Officer

Written Report :

Public or Exempt?

(State clauses from Code of Practice booklet)

Public

Subject:

Jersey Innovation Fund – Advisory Board Remuneration.

Decision(s):

The Minister approved a report and proposition seeking to amend the policy in the Operational Terms of Reference so that the Jersey Innovation Fund Advisory Board members can be remunerated.

Reason(s) for Decision:

During the operation of the Jersey Innovation Fund it has become evident that the time commitment required of the non-executive Advisory Board members is far in excess of that originally envisaged. In order to retain and attract the right calibre of members, with the skills and expertise for these vital roles, some level of remuneration to reflect the level of commitment will be necessary. 

Resource Implications:

There are no manpower implications for the States.

 

The total remuneration for the Advisory Board (Chair and private sector members) will not exceed £50,000 per annum in total and this will be recharged to the Fund on an annual basis.

Action required:

The Greffier of the States to be requested to arrange for the Report and Proposition to be lodged ‘au Greffe’ for consideration by the States Assembly.

Signature:

 

Position:

Minister for Economic Development

Date Signed:

 

Date of Decision (If different from Date Signed):

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