Jersey Bank Depositors Compensation Board: extension to appointments

STATES OF JERSEY

JERSEY BANK DEPOSITORS COMPENSATION BOARD: EXTENSION TO APPOINTMENTS

Presented to the States on 25th November 2025 by the Minister for External Relations

STATES GREFFE

2025  R.169

REPORT

Jersey  Bank  Depositors  Compensation  Board:  Re-appointment  of  Interim Chairman

The Jersey Bank Depositors Compensation Board (the "Board") was established in 2015 under the Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (the "DCS Regulations") to administer the Jersey Bank Depositors Compensation Scheme (the "DCS").

Part 2  of the  DCS  Regulations  provides for  the  establishment  of the  Board  and appointment of Board Members ("Members"). Regulations 10, 11 and 12 of the DCS Regulations provides as follows –

10 Constitution of the Board

1. The Board must have at least 3 members.
2. The members of the Board shall be appointed by the Minister after consulting with the Appointments Commission.[8]

(2A) Article 2 of the States of Jersey (Appointment Procedures)

(Jersey) Law 2018 shall apply to the appointment of members of the Board.[9]

3. A person shall not be eligible for appointment as a member of the Board if the person is –

1. a member of the States;
2. subject to a disqualification order under Article 78 of the Companies  (Jersey)  Law 1991 or  Article 24(7)  of the Bankruptcy (Désastre) (Jersey) Law 1990; or
3. bankrupt.

4. The appointment of a person as a member of the Board ceases if the person becomes a person who may not be appointed to be a member of the Board.
5. The rights and obligations of the Board, and the performance of its functions, shall not be affected by –

1. any vacancy in its membership; or
2. any defect in the appointment of a member.

6. [10]
7. [11]

3

11 Terms and conditions of appointment of members of the Board

1. A person appointed to be a member of the Board –

1. holds the appointment on terms and conditions agreed between the person and the Minister; and
2. may be reappointed.

2. The terms and conditions must include terms and conditions in respect of –

1. the term of the appointment of the member, being a term not exceeding 5 years;
2. the manner in which the member may resign during that term;
3. the grounds upon which the appointment of the member may be terminated during that term;
4. the remuneration (if any) of the member,

and  may  contain  such  other  terms  and  conditions  as  the Minister may consider appropriate or necessary.

3. The grounds mentioned in paragraph (2)(c) must include –

1. the member being mentally or physically incapable of carrying out his or her functions as a member; and
2. the member being convicted of an offence that carries a penalty of imprisonment for a term of 2 years or longer.

12 Procedures of the Board

1. The quorum for a meeting of the Board is half the number of members appointed to be members of the Board at the time of the meeting.
2. The Board must keep a record of its decisions.
3. The Minister may determine the procedures of the Board.
4. The  Minister  must  present  to  the  States  a  copy  of  any determination made under paragraph (3).
5. Except  as  otherwise  provided  by  this  Regulation  or  the Minister, the Board may determine its own procedures.
6. [12]

In accordance with the DCS Regulations, the Minister for External Relations intends to extend the appointment of all Board members to 30th June 2026. This extension aligns with the revised dissolution date for the Board, as part of the plans to transfer its functions to the Jersey Resolution Authority, adopted by the States in September 2025 under P.42/2025.

R.169/2025

States of Jersey (Appointment Procedures) (Jersey) Law 2018

In accordance with Article 2 of the States of Jersey (Appointment Procedures) (Jersey) Law 2018, the Minister gives 2 weeks' notice to the States Assembly of his intention to make this appointment.

Existing Board

The Members of the Board until its dissolution in June 2026 are –

Mr Mike Mitchell (Chair)

Ms Amy Taylor

Mr Ian Henderson

Ms Katherine Hitchins

The Government of Jersey is represented on the Board by Mr Thomas Wright in a non- voting capacity.

Financial and Resource Implications

The members of the board are remunerated through the DCS levy on Jersey banks. There are no other resource implications.