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Instruction of solicitors - Depositors Compensation Scheme Loan Agreement

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A decision made 22 December 2009 regarding: Instruction of solicitors - Depositors Compensation Scheme Loan Agreement.

Decision Reference:  MD-E-2009-0226

Decision Summary Title :

Instruction of Solicitors with regard to Depositors Compensation Scheme Loan Agreement

Date of Decision Summary:

16 December 2009

Decision Summary Author:

Finance Industry Development Executive

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

n/a

Written Report

Title :

Instruction of Solicitors with regard to Depositors Compensation Scheme Loan Agreement

Date of Written Report:

16 December 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

Exempt under paras. 3.2.1(a)(xi) and (b)

Subject:    

Instruction of Solicitors with regard to Depositors Compensation Scheme Loan Agreement

Decision(s):  

Having carried out a tender process, the Minister decided to instruct Carey Olsen to draft a required loan agreement between the Jersey Bank Depositors Compensation Board and the States of Jersey advise him accordingly.

Reason(s) for Decision: 

The Economic Development Department approached three law firms to tender for the drafting of a required loan agreement between the Minister for Treasury & Resources and the Jersey Bank Depositors Compensation Board and for subsequent legal advice.  Carey Olsen submitted the most competitive bid.

Resource Implications: 

Financial implications are set out in the attached report.  There are no manpower implications for the States.

Action required: 

Instructions to be forwarded to Carey Olsen.

Signature:  Senator A.J.H.Maclean  
 

Position: Economic Development Minister

Date Signed: 

Date of Decision (If different from Date Signed): 

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