Agenda and minutes

An apology for absence were received from Iain Cassidy.

If a Councillor has a disclosable pecuniary interest in a particular item, whether or not it is entered in the Authority’s register of interests, or any other significant interest which they consider should be declared in the public interest, they should declare the existence and, unless it is a sensitive interest as defined in the Member Code of Conduct, the nature of the interest at the commencement of the consideration of that item or as soon as it becomes apparent.

At meetings where members of the public are allowed to be in attendance and speak, any Councillor with a disclosable pecuniary interest or other significant interest may also make representations, give evidence or answer questions about the matter.  The Councillor must then withdraw immediately from the meeting before the matter is discussed and any vote taken.

Where Members of the public are not allowed to be in attendance and speak, then the Councillor with a disclosable pecuniary interest should withdraw from the meeting whilst the matter is under consideration. Councillors who have declared other significant interests should also withdraw from the meeting if they consider their continued participation in the matter would not be reasonable in the circumstances and may give rise to a perception of a conflict of interest.

Councillors are not obliged to withdraw from the meeting where a dispensation to that effect has been obtained from the Standards Committee.

Councillor Adrian Pascu-Tulbure declared a non-pecuniary interest in item 3, noting that one of the shortlisted fund manager representatives was a casual acquaintance. He participated in the discussion and voting on the item.

This report presents an overview of the background to the decisions to be made following the Pension Fund committee meeting 13 June 2023.

This item includes appendices that contain exempt information. Discussion of the appendices will require passing the proposed resolution at the end of the agenda to exclude members of the public and press.

Phil Triggs (Director of Treasury and Pensions) introduced the report which provided an overview of the background to the decisions to be made following the Pension Fund committee meeting 13 June 2023. He referred to Isio’s manager selection exercise and the meetings with shortlisted managers in the afternoon,

Exclusion of the public and press

The Committee resolved, under Section 100A (4) of the Local Government Act 1972, that the public and press be excluded from the meeting during the consideration of the following items of business, on the grounds that they contained the likely disclosure of exempt information, as defined in paragraph 3 of Schedule 12A of the said Act, and that the public interest in maintaining the exemption currently outweighed the public interest in disclosing the information.

The Committee held further discussions in the private session that followed.

RESOLVED

The Committee agreed to

1.    Select Quinbrook for a renewable energy infrastructure product; and

2.    Make further deliberations reference one of the options presented for a Buy and Maintain bond product at the meeting on 19 September 2023.  

The next meeting will take place on 19^th September 2023.

The Committee noted the dates of future meetings:

• 19 September 2023
• 15 November 2023
• 20 February 2024

The Committee is invited to resolve, under Section 100A (4) of the Local Government Act 1972, that the public and press be excluded from the meeting during the consideration of the following items of business, on the grounds that they contain the likely disclosure of exempt information, as defined in paragraph 3 of Schedule 12A of the said Act, and that the public interest in maintaining the exemption currently outweighs the public interest in disclosing the information.

Please see item 3.