Issue - meetings

To consider a joint report of the Chief Operating Officer, Cheshire East Council, and the Director of Resources, Cheshire West and Chester Council, on the governance arrangements for CoSocius Limited

Consideration was given to a report which detailed the proposed arrangements for the governance of CoSocius Limited, its relationship with the Councils and the relationship between Cheshire East Council and Cheshire West and Chester Council.

To enable the Councils to progress the establishment of CoSocius Limited approval was sought for the Draft Articles of Association, the Reserved Decisions list, the draft terms of reference for the Shareholder Board and the Heads of Terms for the key legal documentation to be entered into with the Company.

The Committee thanked the officers for their work in producing these documents.

RESOLVED: That

(1)       the Draft Articles of Association for CoSocius Limited, as set out in Appendix 1, be approved.

(2)       the Decisions reserved to the Councils as shareholders, as set out in Appendix 2, be approved.

(3)       the proposals for the establishment of, and composition and terms of reference for the Shareholder Board, as set out in paragraph 10.6 of the report and Appendix 3, be approved.

(4)       the Heads of Terms for the Shareholder Agreement, contract for services, working capital and support services, as set out in Appendix 4, be approved.

(5)       The Section 151 Officers at each Council be authorised to make minor changes in consultation with their respective monitoring officers.