Decision details

Purpose of Report: The report proposes that the Council withdraw from its membership of YNY Ltd in order that the company can be dissolved.

The Executive is asked to agree the officer recommendations as outlined in the report.

Resolved:  (i)      That approval be given in principle, as a member of the Company, to:

a)   Replace the current articles of association with un-amended model articles of association for private companies limited by guarantee to allow for sole directors, membership of less than 2 and distribution of the residue in the bank account to be used towards the administrative costs of dissolving the Company.

b)   Following the amendment of the articles, send a formal letter from City of York Council and North Yorkshire Chamber of Commerce giving 7 clear days’ notice of their respective cessations of membership.

(ii)      That authority be delegated to the Corporate Director of Economy and Place to carry out any additional actions necessary to bring the above resolution into effect.

Reason:    To allow the orderly dissolution of YNY Ltd., a company which is no longer required by the Partners.