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Economic Affairs - Approved Panel Minutes - 14 September 2009

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Economic Affairs Scrutiny Panel

PUBLIC MEETING Record of Meeting

Date: 14th September 2009 Meeting 30

Present Deputy M.R. Higgins, Chairman

Deputy C.F. Labey , Vice-Chairman

Deputy S. Pitman

Deputy D.J.A. Wimberley

Apologies Deputy G.P. Southern (Depositor Compensation Scheme Review only)

Deputy J.M. Maçon

Absent

In attendance Mr T. Oldham , Scrutiny Officer

Miss K. Boydens , Scrutiny Officer

Mrs K. Tremellen-Frost, Scrutiny Manager (Item 3 and Item 4)

 

Ref Back

Agenda matter

Action

 

1. Minutes

The Panel deferred consideration of all outstanding Minutes to a subsequent meeting.

 

11/09/09 Item 1

515/17(8)

2. Depositor Compensation Scheme

The Panel agreed that the Panel's adviser Mr J. R. Labrosse of Patterson  and  Labrosse  Financial  Consultants  Ltd,  Canada, should be present to attend the scheduled meetings with the Jersey  Bankers  Association,  OXERA  and  the  Minister  for Economic Development. It was proposed that the adviser should

be present for one week from the 23rd September 2009 to the 30th September 2009 subject to his availability.

The Panel noted and agreed the following Heads of Report:-

  • Consultation
  • Coverage
  • Funding
  • Structure
  • Mechanics

The Panel considered the best means by which to progress the above review and agreed the following action points:-

  1. to begin drafting the report;
  2. to  draft  a  letter  to  the  Jersey  Bankers  Association requesting their attendance for a Public Hearing in the lunchtime slot of the States sitting on the 24th September

2009;

3.

to confirm attendance with OXERA for a Public Hearing

on the 25th September 2009, in a lunchtime session or possible evening slot;

KB

TO KB

4. to  confirm  attendance  with the Minister for  Economic KB Development for a Public Hearing on the 28th September

2009; 5. the Panel's Adviser should be invited to the Island for the KB Hearings with the Jersey Bankers Association, scheduled

foSrepthteem2b4ethr Se2p0t0e9mbearn d2 00t9h,e OXMEinRiAst eschr efodruleEdcofonr o2m5itch KB Development scheduled for the 28th September 2009 and

should remain on the Island to assist with the drafting of MH the report;

6. to receive a written update on the fact finding visit to the

Isle of Man.

07/09/09 3. Annual Business Plan

Item 3

The Panel considered the drafting of Comments on the proposed 517/11(8) 2010  Annual  Business  Plan  for  the  Economic  Development

Department.

It was agreed that Deputy Maçon, Deputy Wimberley and Deputy JM/DW/ Pitman  were  to  further  discuss  the  Panel's  approach  to  the SP Annual Business Plan and report back to the Panel accordingly.

4. Millennium Town Park

The Panel noted the report Millennium Town Park Appraisal of Development' (1999).  The  Panel  considered  whether  to undertake work on the topic but agreed that it was not within its remit.

4. Future Meetings

The Panel noted that its next scheduled meeting would take place  at  9:30am  in  Le  Capelain  Room,  States  Building,  on

Monday 21st September 2009.

The Panel agreed that this meeting would concentrate on the Depositor Compensation Scheme Review and deferred all other matters.

Signed Date: ..

Chairman

Economic Affairs Scrutiny Panel