Issue - meetings

The Corporate Director of Economy and Place to present a report which proposes that the council withdraw from its membership of the company YNY Ltd., so that the company can be dissolved.

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.

The Corporate Director of Economy & Place presented a report which proposed that the council withdraw from its membership of YNY Ltd. (the Company), so that the Company could be dissolved.

YNY Ltd., a private company with three members - North Yorkshire County Council (NYCC), City of York Council (CYC) and York & North Yorkshire Chamber of Commerce, had been set up to support economic growth in the area.  It had been dormant since 2014, when the Board agreed to transfer it to NYCC.  However, as the articles of association did not allow for a single member or director, CYC approval was required to begin the process of dissolving the Company and to use the remaining £2,833.59 in its account towards the associated administrative costs.

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.