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Lodging of the draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200-

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A decision made 22 December 2009 regarding: Lodging of the draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200-.

Decision Reference:   MD-E-2009-0227 

Decision Summary Title :

Draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200-

Date of Decision Summary:

21 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 :

Draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200-

Date of Written Report:

21 December 2009

Written Report Author:

Finance Industry Development Executive

Written Report :

Public or Exempt?

Public

Subject:    

Lodging of the draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200- (“the draft Law”)

Decision(s):  

The Minister approved the draft Law, signed the declaration of Human Rights compatibility and instructed that the documents be lodged au Greffe for debate by the States at the earliest opportunity.   

Reason(s) for Decision: 

The Jersey Mutual Insurance Society Incorporated (“the Society”) was incorporated by Act of the States on 13 February 1908 and its Fundamental Rules (“the Rules”) continue to be embodied by statute.  The draft Law gives effect to the minor changes requested by the Society to the Rules. 

 

Resource Implications: 

There are no financial or manpower implications for the States

Action required: 

The draft Law to be lodged au Greffe for debate by the States at the earliest opportunity. 

Signature:  Senator A.J.H.Maclean  

Position: Minister for Economic Development  
 

Date Signed: 

Date of Decision (If different from Date Signed): 

Lodging of the draft Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200-

THE MINISTER FOR ECONOMIC DEVELOPMENT (“THE MINISTER”)  

Jersey Mutual Insurance Society, Incorporated (Alteration of Rules) (No. 6) (Jersey) Law 200- (“the draft Law”)  
 

1. Issue and Recommendation  

  1. The draft Law gives effect to the minor changes requested by the Jersey Mutual Insurance Society Incorporated to its Fundamental Rules.

 

  1. The Law Officers’ Department has confirmed that the draft Law raised no Human Rights issues.  The Jersey Financial Services Commission has confirmed that it has no objections to the amendments being made by the draft Law.

 

  1. It is recommended that the Minister approves the draft Law and signs the declaration of Human Rights compatibility and that the documents be lodged au Greffe for debate by the States at the earliest opportunity. 

 

2. Background 

2.1 The Jersey Mutual Insurance Society Incorporated (“the Society”) was incorporated by Act of the States passed on 13 February 1908.  Legal effect was given to the Fundamental Rules of the Society (“the Rules"), which continue to be embodied by statute. The Society is Jersey's only insurance society, operates solely in Jersey and is Jersey's main provider of household insurance. 

  1. At the Annual General Meeting of the Society held on 5 December 2008, it was resolved by special resolution of the members of the Society that the following three changes be made in order to update and modernise the Rules:

 

  1. The first amendment is to grant the Society the power to carry on social or benevolent activities, including the making of donations, the raising of funds, the giving of sponsorship and any other activities carried on for a charitable or benevolent purpose.

 

  1. The second amendment is to change the title of the Secretary of the Society to General Manager.  The Society has determined that the title "General Manager" better describes the nature of the role and the duties undertaken and functions performed by the bearer of this position.

 

  1. The final amendment will enable the Society to communicate with its members by way of electronic communication.  This amendment will result in an increase in the administrative efficiencies of the Society and also result in significant cost savings for the Society with respect to printing, publishing and postage.

 

2.3. A petition to give effect to the desired changes was lodged au Greffe on behalf of the Society on 19 May 2009 and approved by the States on 1 July 2009 as P71/2009. 

3. Recommendation 

3.1. It is recommended that the Minister approves the draft Law and signs the declaration of Human Rights compatibility and that the documents be lodged au Greffe for debate by the States at the earliest opportunity.   
 
 

FINANCE INDUSTRY DEVELOPMENT EXECUTIVE

21 December 2009

 

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