Agenda and decisions


Shareholder Committee
Monday 3 December 2018 4.30 pm

Venue: Bodicote House, Bodicote, Banbury OX15 4AA

Contact: Natasha Clark, Democratic and Elections  Email: natasha.clark@cherwellandsouthnorthants.gov.uk, 01295 221589

Items
No. Item

2.

Declarations of Interest

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

 

3.

Appointment of Chairman for the Municipal Year 2018/19

4.

Chairman's Announcements

To receive communications from the Chairman

5.

Minutes pdf icon PDF 197 KB

To confirm as a correct record the minutes of the meeting held on 20 December 2016.

Additional documents:

6.

Exclusion of the Public and Press

The following items of business contain exempt information as defined in the following paragraphs of Part 1, Schedule 12A of Local Government Act 1972.

 

 

3     Information relating to the financial or business affairs of any particular person (including the authority holding that information)

 

 

Members are reminded that whilst the following items have been marked as exempt, it is for the meeting to decide whether or not to consider each of them in private or in public. In making the decision, members should balance the interests of individuals or the Council itself in having access to the information. In considering their discretion members should also be mindful of the advice of Council Officers.

 

Should Members decide not to make a decision in public, they are recommended to pass the following recommendation:

 

“That, in accordance with Section 100A(4) of Local Government Act 1972, the press and public be excluded from the meeting for the following items of business, on the grounds that they could involve the likely disclosure of exempt information as defined in paragraph 3 of Schedule 12A of that Act and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.”

 

 

 

 

 

7.

Amendment and Restatement Agreement in relation to a Facility Agreement dated 11 August 2014 between Graven Hill Village Development Company Limited and Graven Hill Village Holdings Limited and Cherwell District Council

Exempt Report of Assistant Director, Law and Governance

Decision:

Resolved

 

(1)          That, having given due consideration, the contents of the Amendment and Restatement Agreement be approved.

 

8.

Graven Hill 2018/19 Business Plan and Budget

Exempt Report of Assistant Director, Law and Governance

Decision:

Resolved

(1)          That the Graven Hill 2018/19 Business Plan and Budget be noted.

9.

Shareholders' Agreement

Exempt Report of Assistant Director, Law and Governance

Decision:

Resolved

 

(1)          That, having given due consideration, the contents of the shareholders’ agreement be approved.

 

10.

Urgent Business - Company Governance Arrangements

Exempt Urgent Report of Assistant Director: Law and Governance

Decision:

Resolved

 

(1)           That the work undertaken to by the Commercial Governance Team under the supervision of the Assistant Director Law & Governance to ensure good company governance be noted.

 

(2)           That the mirroring of director board members of Graven Hill Village Development Company Ltd (DEVCO) and Graven Hill Village Holdings Ltd (HOLDCO) be approved and consequently the nominations of Councillors Hallchurch, Turner and Hughes from HOLDCO be withdrawn and Councillors Corkin and Sames be appointed.

 

(3)           That the thanks of the Shareholder Committee to Councillors Hallchurch, Turner and Hughes for their work on the Graven Hill companies be formally recorded.  

 

(4)           That the agreement of the Shareholder representative to allow changes to the articles of DEVCO and HOLDCO to remove the quorum requirement for directors who are council officers to be present be noted.

 

(5)           That the development of the competency framework for the Independent Remuneration Panel to determine if Non-Executive Directors (NEDs) should be remunerated be approved.

 

(6)           That the change of remuneration for Member NEDs who sit on both HOLDCO & DEVCO so they receive one payment for sitting on both boards be approved.

 

(7)           That the separation of the shareholder representative and banker functions  and the appointment of the Executive Director Finance & Governance as banker be noted and the Chief Executive be requested to appoint a shareholder representative from 10 December 2018 when the current shareholder representative leaves the authority.