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The
Shareholder Sub-Committee acts in accordance with the terms of
reference below so far as they relate to any company established as
a wholly owned company of the council.
The
Strategy & Resources Committee shall appoint the Chair of the
Shareholder Sub-Committee at its first meeting in the municipal
year, who shall hold office until the next such meeting. If the
Chair resigns by giving written notice of resignation to the Chief
Executive, the sub-committee shall, as the first item of business
at its next meeting, elect a successor, to hold office until a
replacement can be appointed by the Strategy & Resources
Committee. The Chair, if present, shall preside. If the Chair is
absent, the Sub-Committee shall elect one of the members present as
Chairman of the meeting.
The
Sub-Committee will comply with the Political Balance Rules in
Section 15 of the Local Government and Housing Act 1989.
The committee must meet once per annum.
(a)
Power to remove and appoint company
directors.
(b)
Approve the annual company business plan, ensuring
that it aligns with the corporate objectives of the
council.
(c)
Periodically evaluate financial performance of a
company, and performance against the current business
plan.
(d)
Consider any recommendations to cease trading by a
company.
(e)
Monitor compliance with relevant
legislation.
(f)
Approve any Shareholder Agreement with the company,
or any variation to such agreement.
(g)
Consider such other matters, as require prior
consultation with shareholders or as are reserved to the
Shareholders in general meeting, and
make such decision on those matters as they think fit.
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