Decision details

The amendments suggested to the Cabinet be approved as follows:

·         Article 3 (1) be updated to reflect that Rosherville Limited will continue to have five Directors but for subsidiary companies, there will be a requirement to have three Directors.

·         Article 11 (2) be updated to reflect that the quorate for Rosherville Limited will continue to be three Directors, including one officer Director, and for the subsidiary companies, the quorate will be two office Directors.

It was also agreed that the Leader of the Executive in consultation with the Chief Executive, be given delegated authority for the appointment and approval of Directors

The Chief Executive set out the proposed amendments to the Articles of Association for Rosherville Limited for Member approval:

·         Article 3 (1) be updated to reflect that Rosherville Limited would continue to have five Directors but for subsidiary companies, there would be a requirement to have three Directors

·         Article 11 (2) be updated to reflect that the quorate for Rosherville Limited would continue to be three Directors, including one officer Director, and for the subsidiary companies, the quorate would be two officer Directors

The Chief Executive advised that Cabinet approval was also being sought to provide delegated authority to the Leader of the Executive, in consultation with the Chief Executive, regarding future appointment to the Boards for both the Holding Company and the subsidiary companies.

Resolved that the Cabinet:

·         Approved the updated Articles of Association as set out in appendix two to this report

Delegated authority or the appointment and approval of Directors, in line with the revised Articles of Association to the Leader of the Executive in consultation with the Chief Executive