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Dormant Bank Accounts (Jersey) Law 2017 (Appointed Day) Act 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.

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

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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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 2 June 2017:

MINISTERIAL DECISION REFERENCE:    MD-C-2017-0074

DECISION SUMMARY TITLE:  Dormant Bank Accounts (Jersey) Law 2017 (Appointed Day) Act 201-

DECISION SUMMARY AUTHOR:

Officer, Financial Services

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

 

REPORT TITLE:  Report to be added to the projet for draft Dormant Bank Accounts (Jersey) Law 2017 (Appointed Day Act) 2017

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT: 

Officer, Financial Services

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Deputy Chief Minister approved the draft Dormant Bank Accounts (Jersey) Law 2017 (Appointed Day) Act 201- (the Appointed Day Act) for lodging and directed that the documents should be lodged au Greffe for debate by the States at the earliest opportunity.

The Dormant Bank Accounts (Jersey) Law 2017 establishes a fund to be known as the Jersey Reclaim Fund and introduces a regime for the transfer, to the Jersey Reclaim Fund, of funds in accounts held in Jersey banks (as defined in the Law) which have been dormant for at least 15 years.  Eventually moneys transferred under the regime will be used for charitable and other related causes.

 

The Dormant Bank Accounts (Jersey) Law was adopted by the States on 28 June 2016, was sanctioned by Order of Her Majesty in Council on 15 February 2017 and was registered by the Royal Court on 24 February 2017.

The effect of the Appointed Day Act is to bring into force the Dormant Bank Accounts (Jersey) Law 2017 on 17 July 2017 with the exception of Article 20 (distribution of Fund money) and other provisions that rely on Article 20 being in force namely Articles 10(1)(d) and 30(3).  It is intended that Article 20 (and the connected provisions) will be brought into force by a further appointed day act in the Autumn of 2017 once initial reports from the banks enable the likely size of the Jersey Reclaim Fund to be ascertained.  It is only then that the policies and procedures required by Article 20 in respect of distributions can be settled and a corresponding Order made.

 

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED:

The Greffier of the States to be requested to arrange for the Draft Dormant Bank Accounts (Jersey) Law 2017 (Appointed Day) Act 201- be lodged au Greffe for debate by the States at the earliest opportunity.

SIGNATURE:

 

 

 

POSITION:

 

Senator Andrew Green M.B.E.

Deputy Chief Minister

 

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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