Agenda and minutes

The Democratic Services Officer read out the procedure.

Apologies were received from William Liew, Cheryl Kirby and Wendy Weston.

At this point in the meeting declarations of interest are received from Members in any of the agenda items under consideration at the meeting. Members are asked to complete the green interest forms circulated to groups in their pre-meetings (which will be announced at the Council Meeting) to indicate:

(a) The agenda item number in which they have an interest to declare.

(b) The nature of their interest.

(c) Whether their interest is a disclosable pecuniary interest or an other interest,  (as defined in Part 2, A and B of the Code of Conduct and Rules for Registration of Interests)

Any Member who needs to clarify any matters relating to the declaration of interests is recommended to seek advice from the Council’s Monitoring Officer or a member of his staff before the meeting to expedite dealing with the item during the meeting.

There were none.

There was none.

There were none.

There were none.

These were approved as a correct record and signed by the Chair.

A Member requested an update on Minute 46 (MFID II – Implications for LGPS Funds). The Assistant Investments Manager replied that the criteria by which the Fund would be classified either as a professional or a retail investor were still not known. It was also unclear when the Regulations would come into effect; there was still talk about them being delayed for at least a year. The Head of Business, Finance and Pensions said that impression given at an LGA meeting in January was that the Treasury was unconcerned about the proposal, and would not take any steps to counter it.

The Committee having been satisfied that the public interest would be better served by not disclosing relevant information and in accordance with the provisions of Section 100(A)(4) of the Local Government Act 1972, RESOLVED that the public should be excluded from the meeting for agenda items 8 and 9 and the reporting of these items be prevented under Section 100A(5A), because of the likely disclosure of exempt information as defined in paragraph 1 and 2 of Part 1 of Schedule 12A of the Act, as amended.

The Committee having been satisfied that the public interest would be better served by not disclosing relevant information and in accordance with the provisions of Section 100(A)(4) of the Local Government Act 1972, RESOLVED that the public should be excluded from the meeting for agenda items 8 and 9 and the reporting of these items be prevented under Section 100A(5A), because of the likely disclosure of exempt information as defined in paragraph 1 and 2 of Part 1 of Schedule 12A of the Act, as amended.

The Head of Business, Finance and Pensions introduced this item.

After discussion, it was RESOLVED to agree the recommendations with one amendment.

The Assistant Investments Manager introduced this item.

After discussion it was RESOLVED to delegate approval of the final response to the consultation to the Chair.