Agenda and minutes

None.

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 Audit and Pensions Committee. 

None.

To approve as an accurate record, and the Chair to sign the minutes of the meeting held on 17 March 2021.

RESOLVED

That the minutes of the previous meeting held on 17^th March 2021 be agreed as an accurate record.

LOCAL GOVERNMENT ACT 1972 - ACCESS TO INFORMATION

Proposed resolution:

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.

resolved

That under Section 100A (4) of the Local Government Act 1972, 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.

This report recommends that the council shareholders of H&F Bridge Partnership Limited (HFBP) agree to the distribution of HFBP’s retained profits before the formal commencement of the company winding-down process takes place.

Veronica Barella presented the report and explained that H&F Partnership Limited (HFBP) had laid dormant for two years and that on the dissolution of the company the final dividends would be proportionally shared between the two partners, Agilisys and H&F.   It had been agreed with Agilisys that H&F would complete the process required as a shareholder within five weeks and a request was also made to align key procedural dates between the two partner organisations. The Committee noted the financial details and procedural requirements set out in pages 5 and 6 respectively of the exempt appendices’ agenda. 

In response to a query from Councillor Connell, Geoff Hay confirmed that any surplus would be proportionately shared between H&F and Agilisys.  Councillor Schmid sought further clarification about the credit rating of the appointed liquidator. Officers reported that the Chief Financial Officer from Agilisys had confirmed that in undertaking their own due diligence they were satisfied that the appointed liquidator would be sufficiently robust as a company to complete the necessary procedural steps required.  It was also confirmed that risk to H&F was minimal and that it was highly unlikely that a new liquidator might be required.

RESOLVED

1.    That H&F’s shareholders agreed to the distribution of H&F Bridge Partnership’s retained profit in line with the council’s shareholding, and for this decision to be recorded by H&F shareholders signing the Final Dividend Approval form;

2.    That the council paid the outstanding debt as detailed in exempt Appendix 1a to H&F Bridge Partnership Limited, and this to be processed separately from the final dividend amount being paid to H&F; and

3.    That H&F’s shareholders of H&F Bridge Partnership Limited sign the Shareholder Written Resolution document which lists 7 resolutions for the formal commencement of company winding-down process to start via the Members Voluntary Liquidation (MVL) process, this includes the handover of the administration of the company to the appointed liquidator as set out in exempt Appendix 1c.