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Ports of Jersey Limited: Articles of Association - New: Approval

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A decision made 12 June 2023:

Decision Reference:  MD-TR-2023-342

Public

Subject: Approval of new Articles of Association for Ports of Jersey Limited

 

Report Title: Approval of new Articles of Association for Ports of Jersey Limited

Public

Decision(s):

The Minister for Treasury and Resources decided to approve the new Articles of Association for Ports of Jersey, and to instruct States of Jersey Investments Limited as Nominee and Trustee for the Minister, in accordance with the Declaration of Trust, to approve any resolution or similar documentation to approve and adopt the new Articles of Association, as needed.

Reason for Decision(s):

Priority number 13 of the Minister’s 2023 Ministerial Plan involves developing the governance arrangements for arm’s length bodies, which includes the States-owned entities (“SOEs”).  Following the adoption of new Memoranda of Understanding with the wholly owned SOEs in May 2022, the Shareholder team commenced a project to review the Memorandum and Articles of Association for these same entities.  New Articles of Association for Ports have been drafted which align with modern corporate governance standards and have been agreed with the Ports Board.  The proposed new Articles of Association have been subject to legal review.

Resource Implications: There are no financial or manpower implications arising from this decision.

 

Action Required: The Minister’s Private Secretary to notify the Head of Shareholder Relations that the decision has been approved.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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