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Information and public services for the Island of Jersey

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

Jersey Bank Depositors Compensation Scheme: Banks and Bank Groups

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

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 on 5 June 2019

MINISTERIAL DECISION REFERENCE  

MD-ER-2019-0022 

DECISION SUMMARY TITLE   Approval of notice designating banks and bank groups for the Depositors Compensation Scheme

DECISION SUMMARY AUTHOR

Lead Policy Advisor, Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT? 

Public

REPORT TITLE   Notice of Banks and Bank Groups for the Purposes of the Jersey Bank Depositors Compensation Scheme

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT

Lead Policy Advisor, Financial Services

IS THE REPORT PUBLIC OR EXEMPT?

Public

DECISION AND REASON FOR THE DECISION

Following changes in the number and identity of deposit-taking licensees in Jersey, in accordance with Regulation 6 of the Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (DCS Regulations), the Minister for External Relations gave notice that the banks listed in the attached report are grouped for the purposes of the annual administration levy, the compensation levy and compensation (each as defined in the DCS Regulations).

This notice supersedes all previous notices given under Regulation 6 of the DCS Regulations.

RESOURCE IMPLICATIONS

There are no resource implications.

ACTION REQUIRED

The Lead Policy Advisor, Financial Services to arrange for the notice to be published on the gov.je and DCS websites.

 

 

 

 

SIGNATURE

 

SENATOR IAN GORST

MINISTER FOR EXTERNAL RELATIONS

 

POSITION

 

 

EFFECTIVE IMMEDIATELY

DATE SIGNED

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