Decision details
Completion of the Shareholder Agreement between B&NES Council and Aequus Developments Limited & Aequus Construction Limited
Decision Maker: Director Legal & Democratic
Decision status: Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
On 14th September 2017 Council resolved to
agree the principles, structure and required streamlining set out
in the proposed protocol for the governance of local authority
companies. Council delegated the implementation of the group
structure and required streamlining to the Chief Executive, in
consultation with the Leader and Portfolio Holder for Finance;
section 151 Officer and Monitoring Officer. Council also requested
Cabinet to incorporate recommendations by the Resources PDS Panel
to the proposed governance structure.
On the 8 November 2018 Council approved the updated Company
Governance Protocol that included the Precedent Shareholder
Agreement. The Chief Executive having consulted on the Shareholder
Agreement including the Reserved Matters in accordance with his
delegated authority now needs to implement the approved structure
by approving the execution of the Shareholder Agreement.
Decision:
To authorise the execution of the Shareholder
Agreement between B&NES Council and Aequus Developments Limited
& Aequus Construction Limited.
Alternative options considered:
None. The completion of the Shareholder
Agreement is the next step in implementing the approved governance
arrangements.
Publication date: 19/12/2018
Date of decision: 18/12/2018