Decision details

The Executive thanked the Overview and Scrutiny Committee for their consideration and comments and agreed that once finalised by the Investment Advisory Board, the governance arrangements for a company would be reported back to the Executive.  The Executive therefore agreed to RECOMMEND to the COUNCIL that

1.         a company be created as described in this report, after the consideration of detailed legal advice; and

2.         the Council agree to delegate the final details of the matters set out in paragraphs 12 and 13 of the report, in relation to the initial set up of the company, to the Investment Advisory Board after consideration by the Value for Money and Customer Service Overview and Scrutiny Committee.

[This item is recommended to the Council for consideration and is not subject to the call-in procedure]

[Reason: to give consideration to setting up a company to pursue commercial opportunities that are beyond the Council’s powers]