Andium Homes Limited: Memorandum of Understanding and Transfer Agreement

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A decision made on 15 July 2014:

Decision Reference: MD-TR-2014-0068
Decision Summary Title:	Andium Homes Limited – Memorandum of Understanding and Transfer Agreement		Date of Decision Summary:	2nd July 2014
Decision Summary Author:	Projects Director		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	Andium Homes Limited – Memorandum of Understanding and Transfer Agreement		Date of Written Report:	2nd July 2014
Written Report Author:	Projects Director		Written Report : Public or Exempt?	Public
Subject: Andium Homes Limited – Memorandum of Understanding and Transfer agreement.
Decision(s): The Minister for Treasury and Resources, acting as the Guarantor of Andium Homes Ltd on behalf of the States of Jersey, decided to approve and sign the Memorandum of Understanding and Transfer Agreement with Andium Homes Limited.
Reason(s) for decision: The purpose of the Memorandum of Understanding is to ensure the appropriate conduct of Andium Homes Ltd and to put in place an accountability framework appropriate to Andium Homes Limited as a business wholly owned by the States. The Transfer Agreement sets out the respective contractual commitments of the Guarantor and Andium Homes Ltd. In particular it sets out the basis by which Andium Homes Ltd shall pay the Guarantor an Annual Return, in return for the transfer of the property.
Resource Implications: There is no additional manpower or financial resources required as a result of this decision.
Action required: Projects Director to inform Finance Director, Andium Homes Ltd and to arrange for the documents to be countersigned by the Chairman of Andium Homes Limited.
Signature:		Position: Senator P.F.C. Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: