The Executive Shareholder and Trustee Committee has been
established by the Executive specifically to discharge the
shareholder and trustee functions of the Council. The Committee
will meet at least once a year to receive an annual report and
annual accounts from the Companies and Charities, but otherwise
meetings will be called on an “as and when required”
basis to deal with company and charity business.
Membership is determined by the Leader of the Council from time
to time. Only members of the Executive may sit and vote on the
Committee. A quorum of three and a maximum number of five Executive
Members will be appointed to the Committee. Substitutes, who must
also be Executive Members, may be permitted at the discretion of
the Leader. The Leader and Deputy Leader of the Council shall be
the Chairman and Vice-Chairman respectively of the
Committee.
The Committee will exercise the
function of the Council as shareholder and trustee as stipulated by
relevant legislation including the Companies Act 2006 and Charities
Act 2011 and associated statutory guidance and any guidance issued
by relevant regulators.