27 July 2012
The States Assembly will be asked to approve in principle the incorporation of Jersey Airport and Jersey Harbours into 1 single limited company.
In a proposition lodged today, Friday 27 July 2012, the Minister for Economic Development is seeking approval to take the necessary steps, including the preparation of necessary legislation, by 1 January 2015.
The proposed structure would see the combined Jersey Airport and Jersey Harbours, now commonly known as ‘Ports of Jersey’, remain a 100% States owned company governed by a Board of Directors and regulated as such.
Incorporating the businesses would enable a more commercial and responsive business and also bring financial returns to the States through taxes, parish rates and dividends.
The Minister first announced to the States Assembly in September 2011 that he intended to look at incorporating the 2 businesses. At the same time, he also announced the integration of the 2 States trading entities into 1 combined organisation, which was successfully completed in March 2012.
Incorporating the businesses provides a balance between delivering customer and commercial benefits, and protecting the Island’s strategic assets. Establishing contemporary regulatory oversight of these 100% States of Jersey owned businesses, combined with a robust Shareholders Memorandum of Understanding, will ensure the businesses continue to operate for the benefit of the Island, the community and the economy.
The proposition is due for debate by the States Assembly in September 2012.
The report and proposition, which presents the business case, including the purposes for incorporation as well as timeframes, is available online.
Download Incorporation of Ports of Jersey proposition (size 1.36mb)
gov.je