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Committee details

Shareholder Committee

Purpose of committee

SHAREHOLDER COMMITEE

Membership

Those occupying the following Cabinet posts:

  • Portfolio Lead Member for Economic Growth and High Streets (also acting as Chair)
  • Portfolio Lead Member for Housing
  • Portfolio Lead Member for Transformation and Commercial Operations
  • Portfolio Lead Member for Children, Young  People and Families

Purpose

1.            To represent the Council’s interests as shareholder in wholly owned and other companies.

2.            To ensure that the companies act in the interests of the Borough as shareholder and contributes to the Council’s objectives.

3.            To consider and approve any proposed or amended company documentation including memorandum and articles of association and shareholder  agreements.

4.            To undertake the actions, activities and responsibilities provided for and required by any shareholder agreements.

5.            To provide, or withhold, consent as appropriate on those matters requiring shareholder consent as defined in the shareholders agreements.

6.            In the specific case of Waltham Forest Developments Ltd to:

·         Review and agree the annual Business Plan prepared by the Company. The Business Plan will include:

o   An updated programme of activity for the forthcoming year

o   An updated financial plan for the forthcoming year including cashflow identifying income and expenditure and forecast for drawdown of finance provided by the Council

o   Details of proposed future development and investment pipeline

·         Review and agree any proposals to undertake activities outside of the Borough

Meeting Arrangements

Meetings are subject to the provisions of the Local Government (Access to Information) Act, 1985, which legally bind the Local Authority regarding public access to reports and meetings.

The quorum shall be two thirds of the membership.

The minutes will be available to members of the public on request at the Reception Desk of Waltham Forest Town Hall, Forest Road, Walthamstow, through any of Waltham Forest's public libraries and the Council's website at www.walthamforest.gov.uk.

 

Membership