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Economic Affairs - Approved Panel Minutes - 3 August 2009

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Economic Affairs Scrutiny Panel

PUBLIC MEETING Record of Meeting

Date: 3rd August 2009 Meeting 23

Present Deputy M.R. Higgins, Chairman

Deputy C.F. Labey , Vice-Chairman (for item 1) Deputy S. Pitman

Deputy D.J.A. Wimberley

Deputy J.M. Maçon

Deputy G.P. Southern (for item 1)

Apologies

Absent

In attendance Mr. T. Oldham , Scrutiny Officer

Mrs. M. Pardoe (for item 1)

 

Ref Back

Agenda matter

Action

30/07/09 Item 2

515/17

1. Depositor Compensation Scheme

The  Panel  received  the  Minister  for  Economic  Development, Director International Finance and Finance Industry Development Executive at a Public Hearing.

The Panel was advised that Mr J. R. Labrosse of Patterson and Labrosse  Financial  Consultants  Ltd,  Canada,  and  founding Member  of  the  International  Association  of  Deposit  Insurers (IADI) had confirmed his availability to advise the Panel for up to 5 days during the month of August. The Panel considered the C.V.  that  had  been  forwarded  by  Mr  J.  R.  Labrosse  for  the attention of the Panel. The Panel agreed the appointment of Mr

J. R. Labrosse and requested a contract and engagement brief to be drafted accordingly.

The  Panel  noted  the  Off-Island  Fact  Finding  Form  and  the provisional travel arrangements and budget for the proposed visit to  the  Isle  of  Man,  for  a  meeting  on  6th  August  with  Mr  J. Aspden, Chief Executive, Financial Supervision Commission at 3.30pm. The Panel agreed that the Chairman and Deputy G.P. Southern would undertake the visit on its behalf. The Officer was requested  to  complete  travel  and  overnight  accommodation arrangements  and  confirm  final  details  with  the  travelling Members.

The Panel was advised that witnesses invited from the Jersey Financial Services Commission, Jersey Bankers Association and HSBC to attend Public Hearings had not available to attend on dates proposed. The Panel agreed that it would re-contact those witnesses  to  request  suitable  dates  and  arrange  Hearings accordingly. It further agreed to invite the following witnesses to

CA/TO

CA/TO

CA/TO CA/TO

 

attend Public Hearings:

Law Draftsman's Office Mr. C. Borrowman

Jersey Finance Ltd

Viscount, Mr M. Wilkins

Mr  D.   Warr ,  Chamber  of  Commerce  Small  Business Section

The Panel agreed the following additional actions:

  1. request the current list of the top 500' banks;
  2. draft call for evidence and accompanying press release
  3. request  from  John   Harris ,  JFSC  Director  General, chronology and resultant output of his consultancy trip to a  number  of  European  financial  services  Regulators. Research associated JEP articles
  4. research figures demonstrating the scale of the small business sector in Jersey
  5. separate out of the Regulations the role of the Minister in relation to the DCS board; and
  6. establish if there were an official policy on the role of States consultants

CA/TO

 

2. Minutes

The Panel approved the record of its meetings held on 27th and 30th  July  2009,  subject  to  agreed  minor  amendments. The Panel agreed to defer consideration of the minutes of its meeting of 6th July in the absence of Deputy C.F. Labey , Vice-Chairman,

who had chaired that meeting in the absence of the Chairman.

 

30/07/09 Item 3 515/15

3. Tourism PPP

The Panel considered its Review and noted that progress had been stalled as it was still awaiting, from the Department for Economic  Development,  the  revised  Version  6  of  the  PPP proposals  and  an explanation  of  the  proposed  cuts  to  PPP funding contained in the draft Annual Business Plan 2010. It agreed  that  the  Chairman  would  raise  with  the  Chairmen's Committee the matter of the undermining of this and the Bag Limits Reviews by the Executive, as a result of the Panel not being informed of significant developments to proposals that the Department for Economic Development was aware the Panel was reviewing.

MH

30/07/09 Item 4

515/16

4. Fisheries Legislation – Bag Limits

The Panel considered the format of its report and agreed that Deputy S. Pitman would forward further comments to the officer. The  Panel  noted,  however,  that  its  current  priority  was  the Depositor Compensation Scheme Review, and agreed that any further  work  on  the  report  would  be  deferred  until  after completion of the aforementioned Review.

SP

20/07/09 Item 6

5. Annual Business Plan

The  Panel  agreed  that   Deputy  S.  Pitman,   Deputy  D.J.A. Wimberley and Deputy J.M. Maçon would meet on Wednesday 6th August at 4pm to discuss the Panel's approach to possible work on the draft 2010 Annual Business Plan.

SP/DW/ JM

27/07/09 Item 3

6. Sunday Trading

 

The Panel noted that it was awaiting the transcript of its meeting

with   Connétable  L.  Norman,  Assistant  Minister  for  Economic

Development  and  Mr  N.  Fox,  Strategy  Manager,  Economic

Development  on  22nd  July  2009.  It  agreed  to  defer  further

consideration of the matter until receipt of the transcript. 18/05/09 7. Jersey Consumer Council

Item 11

The Panel noted a response from the Economic Development Department to its request for an update on the work undertaken in relation to the recommendations of the report, completed in September 2008, on the role of the Jersey Consumer Council.

  1. Gambling Regulations

The Chairman advised the Panel that Deputy F.J. Hill, B.E.M., had  approached  the  Chairman  to  ask  that  the  Panel  give consideration  to  reviewing P120/2009 Draft  Gambling  (2010 Fees)  (Jersey)  Regulations  200-. The  Panel  agreed  with  the initial feedback that the Chairman had provided to the Deputy , that it would not in a position to agree to the request due to its current commitments.

  1. Ministerial Decisions

The Panel agreed that it would consider the Ministerial Decisions individually  and  raise  any  concerns  at  the  subsequent  Panel Panel meeting.

  1. Future Meetings

The Panel noted that its next scheduled meeting would take place  at  9:30am  in  Le  Capelain  room,  States  Building,  on Monday 10th August 2009.

Signed Date: ..

Chairman

Economic Affairs Scrutiny Panel