Content

Decision:

1.      
To delegate authority to the Joint Strategic
Director of Economy, Planning & Place, in consultation with the
Monitoring Officer and Leader of the Council, to take all steps
necessary to implement the members’ voluntary liquidation of
the Company under the Insolvency Act 1986 (the “Winding
Up”) including the appointment of a liquidator in connection
with the Winding Up;

2.      
To delegate authority to the Joint Strategic
Director of Economy, Planning & Place to seek all further
advice necessary in connection with the Winding Up including,
without limitation:

(i)          
advice from external legal services provider; and

(ii)         
advice from external tax services provider.

3.      
To delegate authority to the Monitoring Officer to
amend the articles of association of GBCH to reduce the quorum
requirement from three directors to two directors for any meeting
of the board of directors of the Company.
Reason(s):

1.      
To enable the Council to fulfil its duties in
respect of the shareholder function competently, robustly and
transparently.

2.      
To enable the Council to fulfil its duties in
respect of best value and continuous improvement in respect of its
interests in GBCH and NDH, and to keep under review the objectives,
strategies and plans, and performance of each
company.

3.      
To fulfil the Council’s corporate governance
duties in respect of GBCH and NDH.
Other options considered and rejected by the
Executive:
None.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
Non-pecuniary interest declared by Councillor Tom Hunt as
Chairman of the Board of Directors of Guildford Borough Council
Holdings Ltd.