Decision

1. that Torbay Council Holding Company Limited be established and registered with Companies House;
2. that the following posts be appointed as Directors to the Torbay Council Holding Company:

a.         Director of Pride in Place;

b.         Divisional Director of Place Strategy;

c.         Director of Adults & Community Services;

d.         Director of Corporate Services; and

e.         Head of Corporate Finance;

1. that the following subsidiary companies or component parts be transferred to the Torbay Council Holding Company:

·                    Torbay Economic Development Company Limited;

·                    TorVista Homes Limited;

·                    C & A Consultants (Torquay) Limited;

·                    KAH Holdings Limited;

·                    SWISCo Limited; and

·                    Torbay Education Limited;

1. that the following Shareholder Panels be dissolved and replaced by the Torbay Council Holding Company Limited Shareholder Panel, to be appointed by the Cabinet, which will provide oversight of all of the Council’s wholly owned companies and subsidiary companies:

·                    SWISCo Shareholder Panel;

·                    TorVista Shareholder Panel; and

·                    TDA Shareholder Panel.

Reasons for the decision

To give effect to the decision of the Council, creating a single Company and Shareholder Panel structure to oversee all of the Council’s wholly owned companies and their subsidiaries.

Alternative options considered

There were several options considered regarding the transfer of the companies and component parts including whether some could be subsumed within the Council, however alternative options were discounted due to the need for the Council to be able to act within legislation pertaining to the function of Local Government.