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Decision:

1.      
Noted the changes the Chief Executive was making to
ensure the Corporate Leadership Team had greater oversight of the
Council’s companies, their objectives, business cases, and
performance as summarised in paragraph 6.3 of this
report;

2.      
Noted the proposed revised governance arrangements
relating to the Council’s company interests, set out at Part
3(1) of the Constitution, (Responsibility for Functions), as set
out in para 6.1 to this report and appendix 1 and 2, and provide
feedback on the proposals to the Monitoring Officer, by way of
consultation;

3.      
Noted the proposed revised governance arrangements
relating to the Council’s company interests, set out at Part
3(2) of the Constitution, (Terms of Reference of Council,
Leader/Executive and Committees), as set out in para 6.2 of this
report and appendix 3 and 4, and provide feedback on the proposals
to the Monitoring Officer, by way of
consultation;

4.      
Noted the Monitoring Officer’s intention to
recommend to the GBC Corporate Governance & Standards Committee
that they recommend to full Council the adoption into the
Constitution of revised Parts 3(1) and 3(2) to reflect appendix 2
and 4, subject to the feedback of the Executive Shareholder and
Trustee Committee.
Reason(s):

1.      
It was considered that improvements could be made to
the governance framework to ensure the shareholder had greater
oversight of the Council’s interests in
companies.

2.      
Good practice would be for the Council’s
senior officers to monitor the performance of the Council’s
interests in companies, and to bring forwards reports to the
shareholder in a regular, timely and transparent way with
appropriate recommendations.

3.      
Whilst the shareholder function was exercised by the
Leader as an Executive function, there was currently no mechanism
in place for scrutiny of such executive decisions and good practice
would be for the Council’s overview and scrutiny committees
to provide effective scrutiny of the shareholder
role.
Other options considered and rejected by the
Committee:
None.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.