PM/JAC/053	92
	PUBLIC ACCOUNTS COMMITTEE
	(28th Meeting)
	18th February 2008
	[Business conducted by electronic mail]
	PART A
	All members were present, with the exception of Connétable T.J. du Feu, Deputy J.G. Reed, Messrs. R. Bignell and C. Evans, and Advocate A. Ohlsson, from whom apologies had been received.
		Deputy S.C. Ferguson, Chairman Senator L. Norman Connétable D.J. Murphy Deputy A. Breckon A. Grimes M. Magee
	In attendance -
		C. Swinson, C.B.E., Comptroller and Auditor General P. Monamy, Clerk to the Public Accounts Committee
Note:		The Minutes of this meeting comprise Part A only.

“Jersey Enterprise Board: proposed establishment” (P.194/2007): Amendment. 1444/7(2)

A1. The Committee, with reference to its Minute No. A1 of 14th January 2008, considered a revised Amendment to the proposition entitled “Jersey Enterprise Board Limited: proposed establishment” (P.194/2007), which projet had been lodged ‘au Greffe’ on 19th December 2007 by the Council of Ministers. The Committee noted that P.194/2007 as presently drafted would effectively transfer States’ Assets, of a significant value, out of the direct control of the States and into the ownership of the proposed new company. The Committee agreed that it would be prudent and entirely common sense that the company and its subsidiaries should come within the remit of the Comptroller and Auditor General (C&AG), so as to give assurance to the Public that there would be an independent oversight of Jersey Enterprise Board and its activities and would provide additional assurance to the Council of Ministers. The Committee accordingly approved the following amendments - Amendment (1): which would bring changes to the Articles of Association to require the C&AG to oversee the audit and report on the audit to the States. Amendment (2): which would ensure that the C&AG had the ability to report on the economy, efficiency and effectiveness of the way in which the new company used its resources. Amendment 3: which would ensure that there could be no change to the constitution of the company without prior referral to the States. Having also approved an explanatory report to accompany the Amendment, the Committee asked for its Amendment to be presented to the States on 19th February 2008. The Committee further decided to withdraw an earlier version of the Amendment which had been lodged ‘au Greffe’ on 15th January 2008.