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Jersey Homes Trust: Approval of Borrowing

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

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 15 September 2017:

MINISTERIAL DECISION REFERENCE: MD-H-2017-0009

DECISION SUMMARY TITLE: Jersey Homes Trust – Approval of Borrowing

DECISION SUMMARY AUTHOR:

Policy Principal

Strategic Housing Unit

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  (if exempt state the relevant article/paragraph of the Freedom of Information Law/Regulations)

Public

REPORT TITLE: Jersey Homes Trust – Approval of Borrowing (oral report)

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Policy Principal

Strategic Housing Unit

IS THE REPORT PUBLIC OR EXEMPT  (if exempt state the relevant article/paragraph of the Freedom of Information Law/Regulations)

Public

DECISION AND REASON FOR THE DECISION:

 

The Minister for Housing approved the request of the Jersey Homes Trust to access private borrowing for the purpose of funding affordable housing developments.

 

Article 4(c) of the Jersey Homes Trust’s Constitution requires the Trust to obtain the prior approval of the Minister for Housing and the Minister for Treasury and Resources when it is seeking to borrow money. The condition applies while the Trust is receiving subsidies or has loans guaranteed by the States of Jersey.

 

RESOURCE IMPLICATIONS:

 

There are no resource implications for the States arising from this decision.

 

ACTION REQUIRED:

 

The Minister for Housing will write to the Jersey Homes Trust providing confirmation of the Minister’s approval.

 

SIGNATURE:

 

 

 

POSITION:

 

Deputy Anne Pryke

Minister for Housing

 

DATE SIGNED:

EFFECTIVE DATE OF THE DECISION:

 

 

 

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