Issue - decisions

RESOLVED:       (i)      That approval be given for:

a)   the establishment of the local authority company (called City of York Trading, or CYT Limited)

b)   the Business Case at Annex 5 to the report and

c)   the general principles of governance and operation as set out in the report, including the appointment of the Cabinet Member for Corporate Services as a non-executive director to act as Chairman of the Board.

REASON:            To allow the company to be established.

(ii)      That authority be delegated to the Cabinet Member for Corporate Services to approve the final Articles of Association.

REASON:            So that the detailed Articles of Association can be formally agreed.

(iii)     That authority be delegated to the Leader of the Council to formally agree and sign off the Shareholder Agreement.

REASON:            To enable the establishment of a Shareholder Committee that will regularly review the activities of CYT Ltd and monitor its performance.

(iv)     That a Shareholder Committee be established, comprising the Leader of the Council (who will chair the committee) and two other Council Members, as chosen by the Leader.

REASON:            In order properly to exercise the Council’s powers and responsibilities as the sole shareholder of the LATC.

(v)     That the Director of CBSS prepare proposals on which current activities provided to external organisations should be considered for trading through CYT Ltd.; all such instances to be subject to business case approval by the Council Management Team, the Board of Directors and the Shareholder Committee.

REASON:            To allow a mechanism for existing trading activity with external organisations to move into the company.