Le Seelleur Trust Property Assets: Investment Strategy

Information about the publication of Ministerial Decisions

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 8 May 2014:

Decision Reference: MD-HSS-2014-0015
Decision Summary Title :	Management of Trust Property Assets		Date of Decision Summary:	1 May 2014
Decision Summary Author:	Capital and Control Account Manager		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:
Written Report Title :	Management of Trust Property Assets		Date of Written Report:	1 May 2014
Written Report Author:	Capital and Control Account Manager		Written Report : Public or Exempt?	Exempt – 3.2.1 (a) (x)
Subject: Management of Trust Assets.
Decision(s): The Minister accepted the investment strategy and recommendations for the Le Seelleur Trust Property Assets as detailed in the report provided by Jersey Property Holdings (JPH). The Minister authorised JPH to implement the property recommendations which include the sale of the Oxford Road workshop and 9 Chevalier Road properties in the first instance. The Minister requested that the Treasurer invest the non-property (cash) assets of the fund in the Common Investment Fund. The Minister further authorised the appointment of JPH as property manager and delegated authority to the Director of Finance for Health and Social Services to conclude a detailed agreement with JPH stipulating how rental income will be collected, property expenses will be settled, and how records on the properties will be maintained.
Reason(s) for Decision: To ensure sufficient and appropriate management and maintenance of the assets of the trust.
Resource Implications: Costs for work done will be charged to the trust as described above. There are no resource implications for the Health and Social Services Department.
Action required: JPH to liaise with Health and Social Services to facilitate the actions authorised above.
Signature:		Position: Minister for Health and Social Services
Date Signed:		Date of Decision: