Public Finances (Jersey)
Law 2019
A LAW to provide for the administration of the public finances of Jersey
and for related purposes.
Commencement [see endnotes]
part 1
Introduction
1 Interpretation[1]
In this Law –
“Council of Ministers” has the same meaning as Article 1(1)
of the States of Jersey
Law 2005;
“financial year” means a year starting on 1st January;
“function” includes a power and a duty;
“government plan” means a plan prepared and lodged by
the Council of Ministers under Article 9;
“head of expenditure” means the particular purpose or
subject (including a major project), set out in a government plan, in respect
of which an amount appropriated under the plan may be spent in a financial
year;
“lodge” means lodge au Greffe in accordance with
standing orders made under the States of Jersey
Law 2005;
“major project” means –
(a) a
capital project the duration of which, from start to finish, is planned to be
of more than one year and the total cost of which is planned to be of more than
£5 million; or
(b) a
project that has been designated as a major project under an approved
government plan;
“Minister” means the Minister for Treasury and
Resources;
“non-Ministerial States body” means a body listed
in Schedule 1;
“Panel” means the Fiscal Policy Panel continued under Article 43(1);
“previous Law” means the Public Finances (Jersey)
Law 2005;
“record” means information recorded in any form;
“specified organisation” means an entity listed in
Schedule 2;
“States” means the States of Jersey constituted under
Article 2 of the States of Jersey
Law 2005;
“States body” means –
(a) a
Ministry, department or other administration of the States;
(b) a
non-Ministerial States body;
(c) a
committee or other body established by an Act of the States;
(d) any
other holder of a Crown or States appointment funded by the States, including
any associated administration of the holder; or
(e) a
body listed in Schedule 6;
“States’ employee” has the same meaning as in the Employment of States of
Jersey Employees (Jersey) Law 2005;
“States fund” means –
(a) the
Consolidated Fund;
(b) the
Strategic Reserve Fund;
(c) the
Stabilisation Fund;
(d) any fund
established under Article 6, including a States trading operation’s
fund; or
(e) any
fund, established or continued under another enactment or an Act of the States,
in which money of the States is held,
but does not include trust assets;
“States trading operation” means a States body or an
area of operation of a States body that is designated under Article 2;
“taxation draft” means a provision of draft legislation
that provides for any of the following –
(a) the
imposition of a tax or duty;
(b) the
variation of a tax or duty;
(c) the
renewal of a tax or duty (whether at the same or at a different rate and
whether with or without modification);
(d) the
abolition of a tax or duty,
but does not include a provision of draft legislation relating to
the taxes and duties set out in Schedule 3;
“Treasurer” means the person holding or exercising the
functions of the office of Treasurer of the States referred to in Article 32;
“trust assets” means –
(a) property
in a legacy or bequest in favour of the States;
(b) property
held in trust for the States;
(c) property
held by the States or a States body on behalf of a person; or
(d) unclaimed
property that is due to or belongs to a person other than the States and that
has been deposited with the States.
2 Designation
of States trading operation
(1) Any States body or area
of operation of a States body may be designated as a States trading operation
under an approved government plan.
(2) A fund must be established
under Article 6(1) for each States trading operation.
(3) It is a term of each
States trading operation’s fund that amounts must not be withdrawn from
it except in accordance with an approved government plan.
(4) Subject to an approved
government plan, any income earned by a States trading operation in a financial
year in excess of its expenditures for that year must be paid into its fund.
part 2
The funds
3 Consolidated
Fund
(1) The Consolidated Fund
established under the previous Law is continued.
(2) All money received by
or on behalf of the States is to be credited to the Consolidated Fund, except
as otherwise provided by this Law or by another enactment.
(3) Money must not be
withdrawn from the Consolidated Fund and used for any purpose except in
accordance with an approved government plan or as otherwise provided by this
Law or another enactment.
(4) With the approval of
the Treasurer, money may be withdrawn from the Consolidated Fund to incur
expenditure that will afterwards be charged to a head of expenditure set out in
an approved government plan.
(5) Money forming part of
trust assets must not be paid into, and does not form part of, the Consolidated
Fund.
4 Strategic
Reserve Fund
(1) The Strategic Reserve
Fund established under the previous Law is continued.
(2) No amount may be
withdrawn from the Strategic Reserve Fund unless the amount is
withdrawn –
(a) for
the purpose of transferring it to another States fund; and
(b) in
accordance with an approved government plan or a decision of the States made on
a proposition lodged by the Minister.
(3) An amount may be
credited to the Strategic Reserve Fund in accordance with an approved
government plan or a decision of the States made on a proposition lodged by the
Minister.
(4) Despite paragraph (2),
an amount may be withdrawn from the Strategic Reserve Fund in accordance with Schedule 4.
5 Stabilisation
Fund
(1) The Stabilisation Fund
referred to in Article 4A of the previous Law is continued.
(2) No amount may be
withdrawn from the Stabilisation Fund unless the amount is
withdrawn –
(a) for
the purpose of transferring it to another States fund; and
(b) in
accordance with an approved government plan or a decision of the States made on
a proposition lodged by the Minister.
(3) An amount may be
credited to the Stabilisation Fund in accordance with an approved government
plan or a decision of the States made on a proposition lodged by the Minister.
6 Establishment
of other funds
(1) The States may, on a
proposition lodged by or with the consent of the Minister, establish a fund for
specific purposes.
(2) When establishing a
fund under this Article, the States must specify the purpose of the fund, the
fund’s terms and the circumstances in which the fund may be wound up.
(3) When establishing a
fund under this Article, the States may –
(a) permit
money received in respect of the fund to be credited to it;
(b) authorise
the Minister or the Treasurer –
(i) to
obtain financing for the benefit of the fund,
(ii) to
lend money from the fund, and
(iii) to
provide a guarantee or indemnity from the fund.
(4) The States may, on a
proposition lodged by or with the consent of the Minister, vary the purpose or
terms of a fund established under this Article or the circumstances in which
the fund may be wound up.
7 Enactments
relating to States funds
An enactment that would establish a States fund, vary a States
fund’s purposes or terms or wind up a States fund may be lodged only by
or with the consent of the Minister.
8 Winding
up of States funds
On the winding up of a States fund other than the Consolidated Fund,
any remaining balance must be transferred to the Consolidated Fund.
part 3
financial planning AND Authority
to SPENd
Government plan and taxation drafts
9 Preparation and lodging of government plan
(1) Each
financial year, the Council of Ministers must prepare a government plan and
lodge it in sufficient time for the States to debate and approve it before the
start of the next financial year.
(2) The
government plan must set out –
(a) the
estimated income to be paid into the Consolidated Fund in the next financial
year;
(b) the
proposed amount of any transfer of money from one States fund to another during
the next financial year;
(c) the
amount of any other proposed financing to be obtained for the next financial
year;
(d) each
major project, and each project that is to be designated as a major project,
that –
(i) is proposed to be started in the next
financial year, and
(ii) has
not previously been set out in an approved government plan;
(e) the
proposed total cost, from start to finish, of each project referred to in
sub-paragraph (d);
(f) any
amendment to the proposed total cost, from start to finish, of a major project
that was set out in or designated under a previously approved government plan;
(g) the
proposed amount to be appropriated from the Consolidated Fund for the next
financial year, per head of expenditure;
(h) the
estimated income from each States trading operation to be paid into its fund in
the next financial year; and
(i) the
proposed amount to be appropriated from each States trading operation’s
fund for the next financial year, per head of expenditure.
(3) The
government plan must also set out, more generally –
(a) the
estimated income to be paid into the Consolidated Fund in the 3 financial years
following the next financial year;
(b) the
estimated amount of any proposed transfer of money from one States fund to
another during each of those 3 financial years;
(c) the
estimated amount of any other proposed financing to be obtained for each of
those 3 financial years;
(d) the
total estimated expenditures from the Consolidated Fund for each of those 3
financial years;
(e) the
estimated expenditures from the Consolidated Fund for each major project to be
carried out in each of those 3 financial years;
(f) the
estimated income from each States trading operation to be paid into its fund
for each of those 3 financial years; and
(g) the
total estimated expenditures from each States trading operation’s fund
for each of those 3 financial years.
(4) The
government plan must also include –
(a) the
estimated amounts that will be in each of the States funds listed in Schedule 5
at the start and at the end of each of the 4 financial years covered by
the plan; and
(b) any
other information that the Council of Ministers believes that the States may
reasonably be expected to need in order to consider the matters mentioned in
paragraphs (2) and (3) and sub-paragraph (a).
(5) The
Council of Ministers must not lodge a government plan that shows a negative
balance in the Consolidated Fund at the end of any of the financial years
covered by the plan.
(6) The
Council of Ministers must –
(a) in
preparing the government plan, take into account the medium-term and long-term
sustainability of the States’ finances and the outlook for the economy in
Jersey; and
(b) set
out in the government plan how the proposals in the government plan take those
matters into account.
(7) The
government plan may include a reserve as a head of expenditure.
(8) The
government plan may, in relation to a head of expenditure, set out an amount of
the estimated income to be earned by, or be attributable to, a specified States
body or area of operation of a States body in the next financial year.
(9) The
Council of Ministers must –
(a) in
preparing the government plan, take into account the sustainable well-being
(including the economic, social, environmental and cultural well-being) of the inhabitants
of Jersey over successive generations; and
(b) set
out in the government plan how the proposals in the plan take that sustainable
well-being into account.
10 Proposed
appropriations for non-Ministerial States bodies or other bodies[2]
(1) A
government plan lodged by the Council of Ministers must set out, as the proposed
amount referred to in Article 9(2)(g) to be appropriated in relation to
the operations of a non-Ministerial States body or body listed in
Schedule 6 for the next financial year, the amount that is submitted to
the Council of Ministers by –
(a) the
chairman of the States’ Public Accounts Committee, in the case of the
office of the Comptroller and Auditor General;
(b) the
chairman of the States’ Privileges and Procedures Committee, in the case
of the States Greffe;
(c) the
non-Ministerial States body, in the case of any other non-Ministerial States
body; and
(d) the
Minister responsible for ensuring the proper resourcing of the body under the
enactment that establishes the body, in the case of a body listed in
Schedule 6.[3]
(2) The
Council of Ministers may include, in the government plan, a statement
indicating whether or not the Council supports any of the submitted amounts
referred to in paragraph (1).
(3) For
the avoidance of doubt, the amounts set out in the government plan under this
Article may be the subject of an amendment under Article 13.
11 Lodging
of taxation draft
(1) If
a lodged government plan proposes imposing or varying a tax for the next
financial year, the Minister must lodge draft legislation containing a taxation
draft that implements the proposal in sufficient time for the taxation draft to
be debated and approved by the States before the start of that financial year.
(2) Paragraph (1)
does not prevent the Minister from lodging other draft legislation containing a
taxation draft at any time.
(3) If,
at any time, the States approve a proposition that suggests that a taxation
draft should be lodged and the Minister does not lodge draft legislation
containing a taxation draft in sufficient time for it to be debated before the
time when it should have effect, the Minister must explain why he or she has
not lodged it.
(4) Only
the Minister may lodge draft legislation that contains a taxation draft.
12 Taxation
draft may be given immediate effect
(1) The
States may by Act declare that, on the Act being made, a taxation draft in a
draft Law has effect as if the draft Law had been passed by the States, confirmed by Order in Council and registered in the
Royal Court.[4]
(2) The
States may extend the application of the Act to an ancillary provision that is
contained in the same draft Law.
(3) An
Act referred to in paragraph (1) may be made at any time after the
taxation draft to which it relates has been lodged.
(4) If
a taxation draft which has effect under paragraph (1) provides for the
renewal of an existing tax, any enactment which was in force in respect of the
tax as last imposed has full force and effect with respect to the renewed tax,
subject to any taxation draft or ancillary provision which also has effect
under paragraph (1).
(5) If,
after an Act has been made under paragraph (1), a taxation draft or
ancillary provision given effect by the Act is amended before it is confirmed
by Order in Council, money that is paid or deducted in respect of it but that
would not have been paid or deducted in respect of the version as amended and
confirmed must be repaid or made good.[5]
(6) If,
after an Act has been made under paragraph (1), a taxation draft or
ancillary provision given effect by the Act is not adopted by the States or is
not confirmed by Order in Council, any money paid or deducted under it must be
repaid or made good.[6]
(7) In
this Article –
(a) an
“ancillary provision” is a provision in a draft Law that provides
for –
(i) the collection
and administration of a tax,
(ii) the
proper administration of matters connected with the imposition of a tax,
(iii) the
interpretation, application, effect or commencement of a taxation draft,
(iv) consequential
amendments, transitional arrangements or savings that are supplemental to a
taxation draft being given effect; and
(b) a
reference to a taxation draft or ancillary provision includes any amendment to
a taxation draft or ancillary provision that is adopted by the States before
the Act is declared.
13 Amendment
to lodged government plan
(1) An
amendment to a lodged government plan may, in addition to proposing the
amendment to the plan, propose –
(a) the
amendment of any enactment that imposes a tax or provides for the
administration of a tax (whether or not the Minister has lodged a taxation
draft that would amend the enactment); or
(b) the
imposition of a new tax.
(2) A
person, committee or panel who intends to propose an amendment to any element
of a lodged government plan referred to in Article 9(2) must, in preparing
the amendment, take into account the impact of the amendment on –
(a) the
States’ finances;
(b) the
medium-term and long-term sustainability of the States’ finances and the
outlook for the economy in Jersey; and
(c) the sustainable
well-being of the inhabitants of Jersey over successive generations.
Approval
of government plan
14 Limitations
on approval
The States may not approve
a government plan that would –
(a) show
a negative balance in the Consolidated Fund at the end of the first financial
year covered by the plan; or
(b) authorise
the transfer of money between one States fund and another in a manner that is
inconsistent with any enactment or with the terms of a States fund.
15 Effect
of approval
(1) The
approval by the States of a government plan is an approval of the
appropriations, financing and transfers set out in the plan for the first
financial year it covers, such that in that year –
(a) an
amount of not more than an approved appropriation may be withdrawn from the
Consolidated Fund and spent in accordance with the plan;
(b) a
States body or area of operation specified under Article 9(8) may withdraw
from the Consolidated Fund an amount, to be spent on the related head of
expenditure, of not more than the lesser of –
(i) the amount of
income that is earned by, or is attributable to, the States body or area of
operation in that year, and
(ii) the
amount, set out in the plan under Article 9(8) in relation to the head of
expenditure, of the estimated income of the States body or area of operation;
(c) a
States trading operation may withdraw from its fund an amount of not more than
the approved appropriation and spend it in accordance with the plan;
(d) the
Minister may arrange financing in accordance with the plan; and
(e) money
may be transferred between States funds in accordance with the plan.
(2) The
approval by the States of a government plan is also an approval of –
(a) the
designation of a project, set out in the plan, that is to be designated as a
major project;
(b) the
undertaking of the major projects that are set out in, or designated under, the
plan; and
(c) the
proposed total cost, from start to finish, of each of those major projects.
(3) The
approval by the States of a government plan authorises the Minister to direct
how an approved appropriation for a reserve head of expenditure in the plan may
be spent (including on another head of expenditure) in the first financial year
covered by the plan.
(4) For
the avoidance of doubt, approval by the States of a government plan is not an
approval of any appropriations, financing or transfers for the years following
the first financial year covered by the plan.
16 Amendment
to an approved government plan
(1) The
States may amend an approved government plan only on a proposition lodged by
the Council of Ministers.
(2) A
proposition to amend an approved government plan must not result in the plan
showing a negative balance in the Consolidated Fund at the end of any financial
year covered by the plan.
Supplementary
powers
17 Approval
still pending at start of financial year
(1) This
Article applies if the States have not approved a lodged government plan before
the start of the first financial year covered by the plan.
(2) For
each month of that year during which the government plan remains unapproved, an
amount up to the maximum set out in paragraph (4) may be withdrawn from
the Consolidated Fund in respect of a proposed head of expenditure set out in
the unapproved plan if there is an equivalent head of expenditure set out in
the most recently approved government plan.
(3) For
each month of that year during which the government plan remains unapproved, a
States trading operation may withdraw an amount up to the maximum set out in
paragraph (4) from its fund in respect of a proposed head of expenditure
set out in the unapproved plan if there is an equivalent head of expenditure,
under which an amount is appropriated from that fund, set out in the most
recently approved government plan.
(4) The
maximum referred to in paragraphs (2) and (3) is 1/12th of the amount of
the appropriation for the equivalent head of expenditure set out in the most
recently approved government plan.
(5) Articles 18
and 22 apply, with any modifications that the circumstances require, with
respect to heads of expenditure in the unapproved government plan.
(6) Paragraphs (2)
and (3) cease to apply as soon as the States approves the government plan
referred to in paragraph (1), and in that case any amounts withdrawn under
this Article are treated as being withdrawn under that plan.
18 Power
to re-allocate
(1) Despite
an approved government plan, the Minister may direct that a specified amount
appropriated under the plan for one head of expenditure be allocated to another
head of expenditure that is –
(a) set
out in the plan; or
(b) a new
head of expenditure relating to a major project set out in, or designated by,
the plan or a previously approved government plan.
(2) The
specified amount may be withdrawn from the Consolidated Fund and spent on that
other head of expenditure in the same financial year for which the amount was
appropriated, as if the amount had been appropriated for that other head of
expenditure.
(3) For
the avoidance of doubt, the total amount appropriated for the original head of
expenditure is decreased by the specified amount.
(4) The
Minister must give the States at least 4 weeks’ notice of the day on
which the Minister proposes to give a direction under this Article and, if a
proposition objecting to the proposed direction is lodged before that day, the
Minister must not give the direction unless and until the States reject the
proposition or the proposition is withdrawn.
(5) If
a direction under this Article would affect a head of expenditure that relates
to the responsibilities of any Minister, that Minister must be consulted before
the direction is made.
19 Power
to transfer amounts to following year’s reserve
Despite an approved
government plan, the Minister may direct that an unspent amount appropriated
for a head of expenditure in one financial year be deemed to be appropriated
for a reserve head of expenditure for the following financial year.
20 Power
to transfer major project amounts to following year
Despite an approved
government plan, the Minister may direct that an unspent amount appropriated
for a head of expenditure for a major project in one financial year is deemed
to be appropriated for a head of expenditure for that major project for the
following financial year.
21 Power
to allocate excess income
(1) This
Article applies if –
(a) an
approved government plan includes, under Article 9(8), the estimated
income that will be earned by, or be attributable to, a States body or by an
area of operation of a States body during the first financial year covered by
the plan; and
(b) income
in excess of that estimate is earned by, or attributable to, the States body or
area of operation during that financial year.
(2) Despite
the approved government plan, the Minister may direct that the excess income
referred to in paragraph (1)(b) be allocated to a head of expenditure set
out in the plan.
(3) The
amount subject to the Minister’s direction may be withdrawn from the
Consolidated Fund and spent on that head of expenditure in the first financial
year covered by the approved government plan, as if the amount had been
appropriated for that head of expenditure.
22 Limitations
on powers – non-Ministerial States bodies and States trading
operations
(1) The
Minister may give a direction under any of Articles 18 to 21 with respect
to a head of expenditure that relates to the operations of a non-Ministerial
States body only with the approval of –
(a) the
chairman of the States’ Public Accounts Committee, in the case of the
Comptroller and Auditor General;
(b) the
chairman of the States’ Privileges and Procedures Committee, in the case
of the States Greffe; or
(c) the
accountable officer of the non-Ministerial States body, in any other case.
(2) Amounts
appropriated from a States trading operation’s fund may only be allocated
under Article 18 to –
(a) another
head of expenditure, set out in the plan, for which amounts are appropriated
from that fund, or
(b) a new
head of expenditure relating to a major project, described in Article 18(1)(b),
that is being undertaken by the States trading operation.
(3) Articles 19
and 21 do not apply with respect to amounts appropriated in relation to a
States trading operation from the Consolidated Fund or its fund.
23 Semi-annual
updates
(1) The
Minister must, in accordance with paragraph (2), prepare and present to
the States a written statement setting out –
(a) each
function undertaken, within the applicable 6-month period referred to in
paragraph (2), under any of Articles 18 to 21, 24 and 26 to 28;
and
(b) each
direction given, within the applicable 6-month period referred to in paragraph (2),
by the Minister under Article 15(3) with respect to the amounts
appropriated for a reserve head of expenditure.
(2) The
Minister must present the statement in respect of the first 6 months of a
financial year no later than 31st August of that year, and must present the
statement in respect of the second 6 months of the financial year no later
than the last day of February of the next year.
Emergency
expenditures
24 Authority
to withdraw a specified amount
(1) Despite
an approved government plan, the Minister may authorise the withdrawal of a
specified amount from the Consolidated Fund if he or she is satisfied
that –
(a) the
circumstances described in paragraph (2) require an immediate expenditure;
and
(b) no
other amount, or an insufficient amount, may be withdrawn from the Consolidated
Fund under the applicable approved government plan.
(2) The
circumstances referred to in paragraph (1)(a) are –
(a) a
state of emergency has been declared under the Emergency Powers and Planning (Jersey) Law 1990; or
(b) the
Minister is satisfied that there exists an immediate threat to the health or
safety of any of the inhabitants of Jersey, to the stability of the economy in
Jersey or to the environment.
(3) The
Minister must present a notice to the States of a withdrawal under paragraph (1)
as soon as is practicable after it occurs.
(4) If
the amount specified under paragraph (1) is less than £100 million,
the Minister may, despite the approved government plan, direct that the amount
be appropriated from the Consolidated Fund.[7]
(5) If
the amount specified under paragraph (1) is £100 million or
more, the applicable approved government plan must be amended accordingly under
Article 16.[8]
(6) Paragraph (7) applies to the
Stabilisation Fund, despite Article 5, during any period in relation to
which the Minister is satisfied that –
(a) the circumstances in paragraph (2)
apply; and
(b) those circumstances require an immediate
exercise of a power set out in paragraph (7).[9]
(7) The Minister may do any one or more of the
following –
(a) transfer an amount, up to the balance of the
Stabilisation Fund, to a fund established under this or any other Law and may
direct that the amount be expended directly from that fund;
(b) direct that an amount be expended directly
from the Stabilisation Fund;
(c) direct that an amount be transferred to the
Stabilisation Fund from any fund established under this or any other Law;
(d) arrange for a bank overdraft or bank
overdraft facility, or other financing, for the Stabilisation Fund under
Article 26;
(e) if making a loan from the Stabilisation Fund
under Article 27, arrange that any repayments are credited to the
Stabilisation Fund.[10]
(8) This Law applies with the modifications in
paragraph (9) during any period in relation to which the Minister is
satisfied that –
(a) the circumstances in paragraph (2)
apply; and
(b) those circumstances require the application
of any modification set out in paragraph (9).[11]
(9) The modifications are –
(a) in Article 4 (Strategic Reserve Fund)
after paragraph (4) there is inserted –
“(5) Despite
paragraph (2), the Minister may transfer up to and including
£400 million from the Strategic Reserve Fund to the Stabilisation
Fund.
(b) in Article 18 (power to re-allocate)
paragraph (4) is deleted;
(c) in Article 26 (financing) –
(i) in paragraph (3) for
“£3 million” there is substituted
“£500 million”,
(ii) in paragraph (4) for
“£20 million” there is substituted
“£500 million”;
(d) in Article 27 (loans) –
(i) in paragraph (1) after
“Consolidated Fund” there is inserted “or the Stabilisation
Fund”,
(ii) in paragraph (2) for
“£3 million” there is substituted
“£100 million”,
(iii) in paragraph (3)
for “£20 million” there is substituted
“£100 million”;
(e) in Article 28 (guarantees and
indemnities) –
(i) in paragraph (2) for
“£3 million” there is substituted
“£100 million”,
(ii) in paragraph (3) for
“£20 million” there is substituted
“£100 million”.[12]
(10) Paragraphs (6) to (9) expire on 30th September
2020.[13]
(11) Despite paragraph (10), where the Minister
has obtained financing, lent money or provided guarantees or indemnities under Articles 26
to 28 while Article 24(8) applied, the financing, lending or
provision of guarantees or indemnities remain valid and are not included in any
monetary limits set out in Articles 26 to 28 as those Articles apply after the
expiry of the modifications made by Article 24(9)(c) to (e).[14]
Part 4
General
Powers of the Minister
25 Investment
of money
(1) The
Minister may cause any money of the States or money held by the States or a
States body to be invested.
(2) However –
(a) money
of a States fund must not be invested in a manner that is inconsistent with any
applicable enactment or instrument that establishes the fund; and
(b) money
held in trust must not be invested in a manner that is inconsistent with the
trust.
(3) The
Minister must present to the States an investment strategy in respect of any
money to be invested, and must do the same for any amendment to the strategy.
(4) In
preparing the investment strategy or any amendment to it, the Minister must
consult a person who is suitably qualified to provide investment advice.
(5) The
Treasurer must, in consultation with a person who is suitably qualified to
provide investment advice, ensure that the investment of any money under this
Article is done in accordance with the Minister’s investment strategy.
(6) Despite
any other provision of this Law –
(a) any
profit arising from the investment of money of a States fund or trust under
this Article is to be credited to that fund or trust; and
(b) any
loss arising from the investment of money of a States fund or trust under this
Article and any investment costs are taken to have been lawfully withdrawn from
that fund or trust.
(7) In
paragraph (6)(b), “investment costs” includes the fees charged
by a person qualified to provide investment advice, other fees paid in relation
to obtaining investment advice and administrative fees and costs.
26 Financing
(1) The
Minister may, in the name of the States –
(a) arrange
for a bank overdraft or bank overdraft facility; and
(b) obtain
other financing.
(2) The
Minister is not permitted to arrange for a proposed bank overdraft or bank
overdraft facility under paragraph (1)(a) in any given financial year if
the total outstanding amount of bank overdrafts and bank overdraft facilities,
including the proposed bank overdraft or bank overdraft facility, would exceed
25% of the estimated income of the States derived from taxes and duties during
the previous financial year.
(3) The
total amount of financing under paragraph (1)(b) that may be obtained in a
financial year must not exceed £3 million, to be calculated without
reference to any interest or premium that may be charged with respect to the
financing.
(4) The
total outstanding amount of financing under paragraph (1)(b) at any given
time must not exceed £20 million, to be calculated without reference
to any interest or premium that may be charged with respect to the financing.
27 Loans
(1) The
Minister may, in the name of the States, lend money from the Consolidated Fund.
(2) The
total amount of all loans under paragraph (1) that may be made during a
financial year must not exceed £3 million, to be calculated without
reference to any interest or premium that may be charged with respect to the
loans.
(3) The
total outstanding amount of all loans under paragraph (1) at any given
time must not exceed £20 million, to be calculated without reference
to any interest or premium that may be charged with respect to the loans.
28 Guarantees
and indemnities
(1) The
Minister may, in the name of the States, provide guarantees or indemnities.
(2) The
total amount of all guarantees and indemnities under paragraph (1) that
may be provided during a financial year must not exceed £3 million.
(3) The
total outstanding amount of all guarantees and indemnities under paragraph (1)
at any given time must not exceed £20 million.
29 No
effect on other authorities
Nothing in any of Articles 26
to 28 limits or otherwise affects any authority under an approved government
plan, another enactment or an Act of the States to obtain financing, lend money
or provide guarantees or indemnities.
part 5
Administration
The Minister
30 Functions
of the Minister
(1) The
Minister must ensure that the public finances of Jersey are regulated,
controlled and supervised in accordance with this Law and that the provisions
of this Law are otherwise duly complied with.
(2) The
Minister must present to the States –
(a) a
written statement setting out –
(i) the
Minister’s procedures for directing, under Article 15(3), how an
approved appropriation for a reserve head of expenditure in a government plan
may be spent, and
(ii) the
expected purposes or subjects on which the Minister may direct that such
appropriations be spent;
(b) a
notice of any amendments to that statement, as soon as practicable after they
are made.
(3) The
Minister must present to the States –
(a) a
written statement of the policy of the Council of Ministers on obtaining
financing, including with respect to –
(i) the types and
amounts of financing that might be included in a government plan, and
(ii) the
process through which any risks associated with financing proposed in a
government plan will be assessed; and
(b) a
notice of any amendments to that statement, as soon as practicable after they
are made.
31 Public
Finances Manual
(1) The
Minister is to issue a Public Finances Manual, present it to the States’
Public Accounts Committee and make it publicly available.
(2) The
Minister may amend the Public Finances Manual and must present to the
States’ Public Accounts Committee a notice of any such amendments as soon
as practicable after they are made.
(3) The
Public Finances Manual must include directions and information with respect to
the proper administration of this Law and of the public finances in Jersey, and
in particular must include directions with respect to –
(a) the
accounting standards according to which the accounts of the States are to be
prepared; and
(b) the
standards according to which internal audits are to be conducted.
(4) The
Minister may delegate the functions set out in paragraphs (1) and (2)
to the Treasurer.
The
Treasurer
32 Office
of the Treasurer
(1) The office of the
Treasurer of the States established under the previous Law is continued.
(2) The Treasurer is
responsible to the Minister for –
(a) supervising
the administration of this Law;
(b) ensuring
the proper stewardship and administration of the public finances of Jersey; and
(c) establishing
a system of internal auditing in support of that stewardship and administration
and advising the Comptroller and Auditor General, as well as the Principal
Accountable Officer (if appropriate), of the results of internal audits carried
out under that system.
(3) The Treasurer is the
chief officer of the States body, or area of operation of a States body, that
is assigned to support the functions set out in paragraphs (2)(a) to (c).
(4) As part of establishing
the system of internal auditing referred to in paragraph (2)(c), the
Treasurer must, with the agreement of the Minister, designate a person who is
employed in the States body or area of operation referred to in paragraph (3)
as the chief internal auditor.
(5) The chief internal
auditor must, in accordance with the Public Finances Manual, carry out internal
audits of States bodies, States funds and trust
assets for the purpose of assisting the Minister and Treasurer in the
performance of their functions under this Law.
(6) The scope, times and
frequency of internal audits are to be determined by the chief internal auditor
with the agreement of the Treasurer.
(7) However, the chief internal
auditor may carry out an internal audit of the States body or area of operation
referred to in paragraph (3) at any time and may determine the scope of
any such audit.
33 Appointment
and removal
(1) The Treasurer is to be
appointed by the Minister after the Minister has consulted the Chief Minister.
(2) Before appointing a
person to the office of Treasurer, the Minister must seek the views of the Jersey
Appointments Commission (established under the Employment of States of
Jersey Employees (Jersey) Law 2005) on the appointment.
(3) The Minister must, at
least 2 weeks before appointing a person to the office of Treasurer,
present to the States a notice of his or her intention to make the appointment.
(4) The appointment of a
person to the office of Treasurer may not be revoked except by the States on a
proposition lodged by the Minister that alleges that the person –
(a) has
been guilty of any malpractice;
(b) is
incapable of the proper performance of the functions of the office; or
(c) is
otherwise unsuitable to continue in office.
(5) The States must –
(a) provide
the Treasurer with an opportunity to respond to the allegations; and
(b) debate
the proposition in camera.
(6) The Minister may
appoint a person to carry out the functions of the office of Treasurer
while –
(a) the
office is vacant; or
(b) the
holder of the office is unable to perform the functions of the office.
(7) The Minister must, as
soon as practicable after a Treasurer resigns, present a notice of the
resignation to the States.
34 Independence
The Treasurer is not subject to any direction on how a function of
his or her office is to be carried out, other than a direction that is set out
in the Public Finances Manual.
35 Report
on a person’s actions
(1) The Treasurer may
provide the Greffier of the States with a written report on the actions of any
person if the Treasurer is satisfied that the person has in any way dealt with
any money of the States other than in accordance with –
(a) this
Law or another enactment;
(b) an
approved government plan;
(c) a
decision of the States on a proposition; or
(d) the
Public Finances Manual.
(2) The Treasurer may
provide the Council of Ministers with a written report on the actions of any
person that relate to the administration of the public finances of Jersey under
this Law.
(3) Before preparing a
report under paragraph (1) or (2), the Treasurer must give the person who
is proposed to be subject of the report –
(a) notice
of the Treasurer’s intention to prepare the report; and
(b) an
opportunity to make representations to the Treasurer regarding the actions of
the person that are at issue.
(4) The Treasurer must
address in his or her report any representations made by the person under
paragraph (3).
(5) The Treasurer must give
the Comptroller and Auditor General notice that the Treasurer plans to provide
a report under paragraph (1) before it is so provided.
(6) The Greffier must lay a
report provided under paragraph (1) before the States.
36 Treasurer
may authorise others to carry out functions
(1) The Treasurer may
authorise a States’ employee, or a person under a contract for the
provision of services with a States body, to carry out the Treasurer’s functions
on his or her behalf and in his or her name, subject to the conditions or
limitations that he or she may specify.
(2) An authorisation given
under paragraph (1) does not affect the Treasurer’s ability to carry
out any function and may be revoked by him or her at any time.
(3) Despite
paragraph (1), the Treasurer is not permitted to authorise the Principal
Accountable Officer to carry out the Treasurer’s functions on his or her
behalf and in his or her name.
37 Annual
financial statements
The Treasurer must, within 3 months of the end of a financial
year –
(a) prepare a financial
statement in respect of the accounts of the States for that financial year; and
(b) send the statement to
the Comptroller and Auditor General for auditing.
Accountable officers
38 Principal
Accountable Officer
The Chief Executive Officer referred to in Article 3 of the Employment of States of
Jersey Employees (Jersey) Law 2005 is the Principal Accountable
Officer.
39 Functions
of the Principal Accountable
Officer
(1) The Principal
Accountable Officer has the following functions –
(a) ensuring
the propriety and regularity of the finances of –
(i) States bodies,
other than non-Ministerial States bodies,
(ii) specified
organisations,
(iii) States
funds, and
(iv) trust
assets;
(b) ensuring
that the resources of the bodies, organisations, funds or assets referred to in
any of sub-paragraphs (a)(i) to (iv) are used economically, efficiently
and effectively;
(c) subject
to any other enactment, appointing an accountable officer to be responsible for
such a body, organisation, fund or asset, or for a part of one;
(d) determining
the functions of accountable officers and ensuring the performance of those
functions, other than with respect to accountable officers referred to in
Article 40;
(e) exercising
the functions of an accountable officer, other than an accountable officer
referred to in Article 40, if the accountable officer is unable to act for
any reason or if no accountable officer is appointed in respect of such a body,
organisation, fund or asset;
(f) making
publicly available a list of the names of accountable officers, including those
referred to in Article 40, as well as the name or description of the body,
organisation, fund or asset for which each accountable officer is responsible.
(2) The functions of an
accountable officer determined by the Principal Accountable Officer under
paragraph (1)(d) –
(a) must
include the functions described in paragraphs (1)(a) and (b) with respect
to the body, organisation, fund or asset for which the accountable officer is
responsible; and
(b) are
in addition to, or subject to, any functions specified in any enactment that
apply with respect to that accountable officer.
(3) The Principal Accountable
Officer may determine different functions under paragraph (1)(d) for
different accountable officers.
(4) The Principal
Accountable Officer must have regard to any relevant Act of the States in
making an appointment under paragraph (1)(c).
(5) A
person appointed under paragraph (1)(c) must be a States’ employee,
or, in the case of a specified organisation, an employee of the organisation.
(6) An
appointment under paragraph (1)(c) must be by written notice and has
effect when the appointed person receives a copy of the notice.
(7) A
copy of the notice must also be sent to the Comptroller and Auditor General and
to the Treasurer.
40 Accountable
officers for non-Ministerial States
bodies
(1) The chief officer of a
non-Ministerial States body is also its accountable officer.
(2) However, if the
Minister is satisfied that there are exceptional circumstances that justify
doing so and if the chief officer of a non-Ministerial States body agrees, the
Minister may –
(a) appoint
an officer of the non-Ministerial States body other than its chief officer to
be its accountable officer; or
(b) appoint
an additional accountable officer for the body from among its officers.
(3) An appointment under
paragraph (2) must be made by written notice and has effect when the
appointed person receives a copy of the notice.
(4) A copy of the notice
must also be sent to the Comptroller and Auditor General, to the Treasurer and
to the Principal Accountable Officer.
(5) The functions of an
accountable officer of a non-Ministerial States body include –
(a) ensuring
the propriety and regularity of the body’s finances; and
(b) ensuring
that the body’s resources are used economically, efficiently and
effectively.
41 Answerability
and accountability
(1) The Principal
Accountable Officer is answerable to the States’ Public Accounts
Committee, and is accountable to the Council of Ministers, for the performance
of his or her functions.
(2) Accountable officers
are answerable to the States’ Public Accounts Committee for the
performance of their functions.
Information and records
42 Duty
to provide information and produce records
(1) A person described in
paragraph (3) must provide any information that he or she is able to
provide, and must produce a record in his or her possession or under his or her
control, when required to do so by any of the following acting in accordance
with their functions under this Law –
(a) the
Council of Ministers;
(b) the
Minister;
(c) the
Treasurer;
(d) the
Principal Accountable Officer or an accountable officer.
(2) If a record is not in
legible form, the obligation to produce the record under paragraph (1)
includes the obligation to produce a version of it in legible form.
(3) Paragraph (1)
applies to the following persons –
(a) the
Principal Accountable Officer;
(b) an
accountable officer;
(c) a
States’ employee;
(d) a
person under a contract for the provision of services with the States or a
States body;
(e) an
employee of a specified organisation;
(f) a
director, manager, secretary or other officer, an employee, or any other person
responsible for the general control and management, of an organisation
that –
(i) receives money of
the States for the purpose of carrying out the organisation’s activities,
or
(ii) is
owned or controlled by the States.
part 6
Fiscal policy panel
43 Fiscal
Policy Panel continued
(1) The
Fiscal Policy Panel established under the previous Law is continued.
(2) There
are to be at least 3 members of the Panel, to be appointed by the Minister.
(3) A
member is to be appointed for a term of not more than 5 years, but a
person may be appointed as a member more than once.
(4) The
Minister must appoint as members of the Panel persons who have the appropriate
qualifications and experience to discharge the functions described in Articles 45
and 46.
(5) Before
appointing a member of the Panel, the Minister must seek the views of the
Jersey Appointments Commission (established by Article 17 of the Employment of States of Jersey Employees (Jersey) Law 2005) on the appointment.
(6) The
Minister must, at least 2 weeks before appointing a member of the Panel,
present to the States a notice of his or her intention to make the appointment.
(7) The
appointment of a member of the Panel may be revoked by the Minister if the
member –
(a) has
been made bankrupt;
(b) is
incapable of the proper performance of the functions of a member; or
(c) is
otherwise unsuitable to continue as a member.
(8) Before
revoking the appointment of the member, the Minister must give the member –
(a) notice
of the Minister’s intention to revoke the appointment; and
(b) an
opportunity to make representations to the Minister regarding the proposed
revocation.
(9) The
Minister must, as soon as practicable after revoking the appointment of a
member of the Panel, present to the States a notice that the Minister has
revoked the appointment.
(10) The
Minister must ensure that the Panel is provided with appropriate and sufficient
resources, and must provide the Panel with the information that it reasonably
requires, to allow it to discharge its functions.
44 Independence
The Panel is not subject to any direction as to the advice it gives,
or to the comments and recommendations it makes, in the performance of its
functions under this Law.
45 Annual
report
(1) Each year, the Panel
must prepare a report on the state of the economy in Jersey and on the
States’ finances as set out in the government plan lodged in that
financial year.
(2) The report must include
comments on –
(a) the
strength of the economy in Jersey;
(b) the
outlook for the economy in Jersey;
(c) the
outlook for world economies and financial markets;
(d) the economic
cycle in Jersey;
(e) the
medium-term and long-term sustainability of the States’ finances, in
light of the lodged government plan, the matters set out in sub-paragraphs (a)
to (d) and the States’ financial assets and liabilities; and
(f) the
advisability of transfers to or from the Strategic Reserve Fund and
Stabilisation Fund, in light of the lodged government plan, the matters set out
in sub-paragraphs (a) to (d) and the sustainability of the States’
finances referred to in sub-paragraph (e).
(3) The Panel must publish
its annual report no later than 2 weeks before the date by which an
amendment to a lodged government plan must itself be lodged in order to be
debated during the same meeting of the States as the government plan.
46 Other
reports
(1) The Council of
Ministers or the Minister may, at any time, request that the Panel prepare a
report on any matter related to the States’ finances.
(2) The Panel must prepare
and, as soon as is practicable, publish the report.
Part 7
offences and related provisions
47 Failure
to provide information or produce a record
(1) A person commits an
offence if, when required to do so under Article 42, he or she refuses or
fails to –
(a) provide
any information that he or she is able to provide; or
(b) produce
a record that is in his or her possession or under his or her control.
(2) A person who is guilty
of an offence under paragraph (1) is liable to a fine of level 3 on
the standard scale.
(3) It is a defence for a
person charged with an offence under paragraph (1) for the person to show
that there was a reasonable excuse for the failure or refusal.
48 False information or destruction of a record
(1) A person commits an
offence if, when required to provide information under Article 42, the
person knowingly provides information that is false, misleading or incomplete
in any material way.
(2) A person commits an
offence if, when required to produce a record under Article 42, or knowing
that a record may be required to be produced under that Article, the person,
with intent to deceive –
(a) destroys
the record or in any other way renders it unintelligible or useless, or
difficult or impossible to retrieve; or
(b) alters
it in any way to make the information it contains false or misleading in any
material way.
(3) A person who is guilty
of an offence under this Article is liable to imprisonment for a term of
5 years and to a fine.
49 Hindrance
or obstruction
(1) A person commits an
offence if he or she hinders or obstructs another person in the exercise by
that other person of a function under this Law.
(2) A person who is guilty
of an offence under paragraph (1) is liable to imprisonment for a term of
6 months and to a fine of level 3 on the standard scale.
50 Privilege,
protection and self-incrimination
(1) Nothing in this Law
requires a person to provide information or produce a record that the person
would, in an action in the Royal Court, be entitled to refuse to provide or
produce on the grounds of legal professional privilege.
(2) However, a lawyer must disclose
the name and address of a client if required to do so by a person acting in
accordance with this Law.
(3) If a person, in
compliance with a request made under this Law, provides information or produces
a record in respect of another person, that provision or production is not a
breach of any duty owed by the first person to the second person or to any
other person.
(4) An answer given by a
person to a question put to the person in exercise of a power conferred by this
Law may be used in evidence against the person.
(5) However, no evidence
relating to the answer may be adduced, and no question relating to it may be
asked, by or on behalf of the prosecution in criminal proceedings in which the
person is charged with an offence other than an offence under Article 48,
unless evidence relating to it is adduced, or a question relating to it is
asked, in the proceedings by or on behalf of the person who gave the answer.
51 Royal
Court may order compliance
(1) This Article applies
where a person has refused or failed to comply with a requirement under
Article 42 to provide any information that he or she is able to provide or
to produce a record that is in his or her possession or under his or her control.
(2) The Royal Court may, on
the application of the person requiring the provision of information or production
of the record, order the person required to comply with the requirement to take
any action that the Court considers necessary to comply with the requirement.
(3) The Court need only be
satisfied of the facts on which it bases an order under paragraph (2) on
the balance of probabilities.
52 Responsibility
(1) If an offence under
this Law that has been committed by a body corporate is proved to have been
committed with the consent or connivance of, or to be attributable to any
neglect on the part of –
(a) a director, manager,
secretary or other similar officer of the body corporate; or
(b) a person who was
purporting to act in any such capacity,
that person, as well as the body corporate, commits the offence and is
liable to be proceeded against and punished accordingly.
(2) If the affairs of a
body corporate are managed by its members, paragraph (1) applies in
relation to the acts and defaults of a member in connection with his or her functions
of management as if the person were a director of the body corporate.
(3) A person who aids,
abets, counsels or procures the commission of an offence under this Law also
commits the offence and is liable in the same manner as a principal offender to
the penalty provided for that offence.
part 8
miscellaneous provisions
53 Minister's
responsibility in respect of certain companies
(1) The
Minister –
(a) may,
on behalf of the States, exercise the rights attached to shares in a company
(wherever incorporated) that are owned by the States in the name of the States;
and
(b) is
responsible for any liabilities attached to such shares.
(2) If the company is an
independently audited States body, within the meaning of the Comptroller and Auditor
General (Jersey) Law 2014, the Minister is, for the
purposes of this Law, the Minister responsible to the States for the financial
interests of the States in the company.
54 Limitation
of civil liability
(1) A person described in paragraph (2)
is not liable in damages for an act done in the discharge or purported
discharge of a function under this Law, unless the act –
(a) is
shown to have been done in bad faith; or
(b) is
unlawful under Article 7(1) of the Human Rights (Jersey)
Law 2000.
(2) Paragraph (1)
applies to –
(a) a
person to whom a function is assigned under this Law; and
(b) a
person who is, or is acting as, an officer, employee or agent of a person
mentioned in sub-paragraph (a) or who is performing a duty or exercising a
power on behalf of such a person.
55 Power
to amend Law by Regulations
(1) The States may by
Regulations amend Parts 1 to 6 and 8 and Schedules 1 to 6.[15]
(2) Only the Minister may
lodge draft Regulations referred to in paragraph (1).
(3) Regulations under
paragraph (1) may amend other provisions of this Law consequentially upon
an amendment made under paragraph (1).
(4) Regulations under
paragraph (1) may also contain savings and transitional provisions.
56 Power
to amend Schedules by Order
(1) The Minister may by
Order –
(a) add
an organisation (whether incorporated or not) to Schedule 2 if the
organisation –
(i) receives money of
the States for the purpose of carrying out the organisation’s activities,
or
(ii) is
owned or controlled by the States; and
(b) amend
the name of an organisation listed in that Schedule.
(2) The Minister may by
Order add a tax or duty to Schedule 3, or amend the name of a tax or duty
listed in it.
(3) The Minister may by
Order add a States fund to Schedule 5, or amend the name of a States fund
listed in it.
(4) Orders made under this
Article may contain saving, transitional, consequential, incidental or
supplementary provisions.
57 Regulations
containing transitional provisions
(1) The States may make
Regulations containing any transitional, saving, consequential, incidental or
supplementary provisions that may be necessary or expedient to bring this Law
into effect.
(2) The States may make
Regulations amending enactments consequent on the repeal of the previous Law
and its replacement by this Law.
(3) Regulations made under
paragraph (2) may include transitional, ancillary, consequential and
supplementary provisions.
58 Continuing
application of previous Law
(1) Subject to this Article
and Articles 59 to 62, the provisions of the previous Law, as they have
effect immediately before this Law comes into force, continue to apply to money
received, expended or otherwise handled by or on behalf of the States during
the financial year in which this Law comes into force.
(2) All financial
directions made under the previous Law, as they have effect immediately before
this Law comes into force, continue to apply to money received, expended or
otherwise handled by or on behalf of the States until the Public Finances
Manual is issued under Article 31.
(3) The investment strategy
referred to in Regulation 4 of the Public Finances (Transitional
Provisions) (No. 2) (Jersey) Regulations 2005, as that strategy has
effect immediately before this Law comes into force, continues to apply to all
money invested under the previous Law until the Minister presents an investment
strategy under Article 25(3).
(4) A reference in Article 25(5)
to an investment strategy is to be read as a reference to the investment
strategy referred to in that Regulation 4 until the Minister presents an
investments strategy under Article 25(3).
59 Expenditures
carried forward
(1) Subject to paragraph (2),
if there are amounts appropriated under the previous Law for a capital head of
expenditure, within the meaning of that Law, that are unspent at the end of the
financial year in which this Law comes into force –
(a) that
capital head of expenditure is deemed to be a head of expenditure in the
approved government plan for each financial year until the related capital
project is finished; and
(b) any
amounts appropriated for the capital head of expenditure that remain unspent at
the end of each financial year are deemed to be appropriated for that head of
expenditure in the next financial year.
(2) The Minister may give a
notice to the States with respect to such a capital head of expenditure to the
effect that, at the end of the financial year in which the notice is
presented –
(a) paragraph (1)
ceases to apply with respect to the capital head of expenditure; and
(b) the
related capital project is deemed to be a major project the undertaking of
which has been approved of by the States.
(3) The Minister may direct
that an unspent amount appropriated under the previous Law for a revenue head
of expenditure, within the meaning of that Law, from the Consolidated Fund for
the financial year in which this Law comes into force is deemed to be
appropriated for a reserve head of expenditure for the following financial
year.
(4) The authority to
transfer up to £100 million from the Strategic Reserve Fund to the
Bank Depositors Compensation Scheme or to meet any temporary cash flow funding
requirements of that Scheme, as set out in Proposition 84/2009 (lodged on 2nd
June 2009 and adopted by the States on 6th November 2009), is continued.
(5) Any borrowing, loans,
guarantees or indemnities done or given under the previous Law that are still
outstanding immediately before this Law comes into force are continued, and the
previous Law and any Regulations made under it continue to apply with respect
to them.
60 Insurance
fund continued
(1) The insurance fund
established under Article 5A of the previous Law is deemed to be a fund
established under Article 6 of this Law.
(2) For the purpose of
allowing the insurance fund to continue as a fund established under Article 6
of this Law, the Minister must establish the purposes and terms of the
insurance fund (which are to be similar in nature to the provisions of Schedule 2
to the previous Law) and must establish the circumstances in which the fund may
be wound up.
(3) The Minister must
present those purposes, terms and circumstances to the States.
(4) Article 6(4)
applies to any subsequent variation of those purposes, terms and circumstances.
61 Special
funds under previous Law continued
(1) Each special fund
established under Article 3 of the previous Law that was in existence immediately
before this Law comes into force is continued as a fund established under
Article 6 of this Law.
(2) Subject to the terms of
any fund referred to in paragraph (1), the Minister may wind up any such
fund at any time.
(3) The Minister must give
the States notice after such a fund is wound up.
62 States
trading operations
(1) The following are
deemed to have been designated as States trading operations under Article 2(1) –
(a) Jersey
Car Parking, the States trading operation designated under the previous Law
that is responsible for administering public parking places;
(b) Jersey
Fleet Management, the States trading operation designated under the previous
Law that is responsible for the acquisition, maintenance, servicing, fuelling
and garaging of vehicles and mobile plant.
(2) For the avoidance of
doubt, the designation of those States trading operations may be rescinded
under this Law.
(3) The trading funds
maintained by Jersey Car Parking and Jersey Fleet Management under the previous
Law are continued as the funds, referred to in Article 2(4), that are
established for each of them.
(4) Subject to paragraph (5),
if there are amounts appropriated under the previous Law, from a trading fund
referred to in paragraph (3), for a capital project that are unspent
at the end of the financial year in which this Law comes into
force –
(a) a
head of expenditure relating to the capital project is deemed to be included in
the approved government plan for each financial year until the capital project
is finished; and
(b) any
amounts appropriated for the capital project that remain unspent at the end of
each financial year are deemed to be appropriated for that head of expenditure
in the next financial year.
(5) The Minister may give
notice to the States with respect to such a head of expenditure to the effect
that, at the end of the financial year in which the notice is presented –
(a) paragraph (4)
ceases to apply with respect to the head of expenditure; and
(b) the
related capital project is deemed to be a major project the undertaking of
which has been approved of by the States.
63 Appointments
continued
(1) The person who,
immediately before this Law comes into force, was the Treasurer appointed under
Article 29 of the previous Law is deemed to have been appointed as
Treasurer under Article 33 of this Law.
(2) The persons who,
immediately before this Law comes into force, were accountable officers under
the previous Law with respect to a States body, specified organisation, States
fund or trust asset are deemed to be accountable officers in respect of the
same body, organisation, fund or asset under Article 39(1)(c) or 40 of
this Law.
(3) The persons who,
immediately before this Law comes into force, were members of the Fiscal Policy
Panel appointed under Article 56A of the previous Law are deemed to be
appointed as members of the Panel under Article 43 of this Law.
(4) The term of each such
member of the Panel ends on the same day as his or her term would have ended
under the previous Law.
64 [16]
65 [17]
66 Citation and commencement
This Law may be cited as the Public Finances (Jersey) Law 2019
and comes into force on a day to be specified by the Minister by Order.