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Homes Deposit Loan Scheme - Pilot: Delegation of Functions

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there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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

Decision Reference: MD-TR-2013-0056

Decision Summary Title:

Delegated Powers for authorisation of loans for the Starter Homes Deposit Loan Scheme

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:

Delegated Powers for authorisation of loans for the Starter Homes Deposit Loan Scheme

Date of Written Report:

27th June 2013

Written Report Author:

Head of Shareholder Relations

Written Report :

Public or Exempt?

Public

Subject: Pilot Starter Homes Deposit Loan Scheme – temporary delegation of functions.

 

Decision(s):The Minister agreed, in accordance with Regulation 14 of the Public Finances (Transitional Provisions) (No. 2) (Jersey) Regulations 2005, to the delegation of powers vested in him as follows:-

 

To authorise the Treasurer of the States to approve each loan for the pilot Starter Home Deposit Scheme under his delegated authority.

 

Reason(s) for Decision:

It is estimated there could be up to 100 loans approved under this pilot scheme and they will need to be approved in a timely manner. 

 

Resource Implications: There are no manpower or resource implications in respect of this decision.

 

Action required: In accordance with Regulation 13 of the Public Finances (Transitional Provisions) (No. 2) (Jersey) Regulations 2005, the Minister for Treasury and Resources will report to the States, at periods of no longer than 6 months details of loans issued.

 

The Greffier of the States was requested to present the temporary delegation of functions to the States Assembly as a Report.

 

Signature:

 

 

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

 

                 

Date Signed:

 

Date of Decision:

Homes Deposit Loan Scheme - Pilot: Delegation of Functions

Treasury and Resources

Ministerial Decision Report

 

 

 

 

delegated powers for  Approving Loans under THE starter homes deposit loan scheme

 

  1. Purpose of Report

To delegate the powers of the Minister for Treasury and Resources to the Treasurer of the States, for the purpose of approving loans to be made under the pilot Starter Homes Deposit Loan Scheme.  

 

  1. Background

Under Regulation 14 of the Public Finances (Transitional Provisions) (No: 2) (Jersey) Regulations 2005 the Minister for Treasury and Resources may delegate to the Treasurer, wholly or partly, a function vested in the Minister by Regulation 13. Regulation 13 relates to the Ministers authority to lend money in the name and on behalf of the States.

The Starter Home Deposit Scheme was approved by the States on 16th April 2013 under P.131/2012.

This Pilot Scheme is intended to commence during July 2013 and last for approximately 6 months or until the £3 million funding approved has been allocated.

It is estimated that up to 100 loans could be approved under this Pilot Scheme.

 

  1. Recommendation

The Minister is recommended to agree to delegate his authority and authorise the Treasurer of the States to approve each loan agreement for the pilot Starter Home Deposit Scheme.

 

  1. Reason for Decision

There could be up to 100 loans approved under this pilot scheme and they will need to be approved in a timely manner. 

 

  1. Resource Implications

There are no manpower or resource implications in respect of this decision.

 

Report author : Head of Shareholder Relations

Document date : 27th June 2013

Quality Assurance / Review : Project Director

File name and path: L:\Treasury\Sections\Corporate Finance\Ministerial Decisions\DSs, WRs and SDs\2013-0056 - Starter Homes Deposit Scheme - Delegated Powers for Signing Contracts\WR - Delegated powers for signing contracts - SHDS.docx

MD sponsor : Head of Shareholder Relations

 

 

 

 

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