Decision details

To transfer staff and assets to the Aequus Companies and to provide a Local Government Pension scheme Guarantee.

RESOLVED (unanimously) that the Cabinet agreed to:

2.1 Authorise the Council entering into the Transfer Agreement with the Council’s housing companies.

2.2 Delegate to the Director of Finance in consultation with the Corporate Director, Director of Legal and Democratic Services, and the Cabinet Member for Resources authority to make minor amendments to the Transfer Agreement, if required, and do all acts necessary to effect the transfer of staff and resources and complete the pensions guarantee in accordance with the terms of the Transfer Agreement.

Under the transfer agreement staff currently seconded to ADL by the council ( 8 people) will transfer to ADL for a period of 10 years and their transfer will take effect by operation of law pursuant to the Transfer of Undertaking & Protection of Employment Act (TUPE).  Their employment rights will be protected and a pension guarantee will be provided by the council.

None.  The transfer of staff and assets will be the culmination of all the previous steps taken to create a Council owned housing company that generates significant revenue for the Council and adheres to the objectives set by the Council as sole shareholder.