Issue - meetings

This report sets out proposals for changes to the Governance and Structure of the Council’s wholly owned housing and development companies (Aequus Developments Ltd and Aequus Construction Ltd) to improve the efficiency and effectiveness of the arrangements based on actual experience since establishment of the companies over the past four years.  The report also presents the Aequus Accounts for 2021/22 together with the Business Plan for 2021/22 to 2023/24.

The Council considered a report setting out proposed changes to the Governance and Structure of the Council’s wholly owned housing and development companies (Aequus Developments Ltd and Aequus Construction Ltd) and also presenting the Aequus Accounts for 2021/22, together with the Business Plan for 2021/22 to 2023/24.

On a motion from Councillor Kevin Guy, seconded by Councillor Neil Butters it was

RESOLVED to;

1.  Approve the amendments to the Reserved Matters Schedule in the Shareholder Agreement within the Councils’. Protocol for Governance Arrangements of Local Authority Trading companies (Appendix 3);

2.  Approve the changes to the Company Structure set out in paragraph 7 of the report, including the transfer within the corporate group of ADL and ACL, and the establishment of the holding company;

3.  Delegate to the Council’s Section 151 Officer the authority to confirm the final documentation required to complete the changes set out in paragraph 7 of the report and to determine the timing and implementation of the new company structure proposed.  This will include authority for the Council’s Section 151 Officer to provide shareholders approval for all legal, financial and corporate filing documentation to implement the new structure;

4.  Note the ADL & ACL 2020/21 year end audited accounts (Appendix 4);

5.  Approve the Aequus Business Plan 2021/22 to 2023/24 (Appendix 5 of the report.)

[Notes:

1.  The above successful resolution was carried with 5 councillors voting against and 10 councillors voting in favour.]

This report sets out proposals for changes to the Governance and Structure of the Council’s wholly owned housing and development companies (Aequus Developments Ltd and Aequus Construction Ltd) to improve the efficiency and effectiveness of the arrangements based on actual experience since establishment of the companies over the past four years.  The report also presents the Aequus Accounts for 2021/22 together with the Business Plan for 2021/22 to 2023/24.

The Council considered a report setting out proposed changes to the Governance and Structure of the Council’s wholly owned housing and development companies (Aequus Developments Ltd and Aequus Construction Ltd) and also presenting the Aequus Accounts for 2021/22 together with the Business Plan for 2021/22 to 2023/24.

On a motion from Councillor Tom Davies, seconded by Councillor Richard Samuel it was

RESOLVED to recommend to Council on 25^th March 2022 to;

1.  Approve the amendments to the Reserved Matters Schedule in the Shareholder Agreement within the Councils’. Protocol for Governance Arrangements of Local Authority Trading companies (Appendix 3);

2.  Approve the changes to the Company Structure set out in paragraph 7 of the report, including the transfer within the corporate group of ADL and ACL, and the establishment of the holding company;

3.  Delegate to the Council’s Section 151 Officer the authority to confirm the final documentation required to complete the changes set out in paragraph 7 of the report and to determine the timing and implementation of the new company structure proposed.  This will include authority for the Council’s Section 151 Officer to provide shareholders approval for all legal, financial and corporate filing documentation to implement the new structure;

4.  Note the ADL & ACL 2020/21 year end audited accounts (Appendix 4);

5.  Approve the Aequus Business Plan 2021/22 to 2023/24 (Appendix 5 of the report.)

[Notes:

1.  The above successful resolution was carried with 16 councillors voting against, 1 councillor abstaining and the remaining councillors voting in favour.]