TRADING COMPANY UPDATE
REPORT OF THE SERVICE DIRECTOR – COMMERCIAL
To provide the Cabinet Sub Committee (Local Authority Trading Companies’ Shareholder) an update on the progress of setting up a trading company.
Additional documents:
Decision:
RESOLVED:
(1) That the content of the report entitled Trading Company Update be noted;
(2) That the Service Director – Commercial be requested to investigate the status of those acting as “Directors” when the company is not yet registered.
REASON FOR DECISIONS: To keep Members informed on the progress in setting up a trading company.
NB: At the conclusion of consideration of the Part 2 report, the Sub-Committee returned to Part 1 to consider any recommendations (Minute 7 refers).
Minutes:
Audio Recording - The report being considered was a Part 2 report, therefore no audio recording was made.
The Service Director – Resources presented the report entitled Trading Company Update together with the following appendices:
· Appendix A - Draft Business Case;
· Appendix B - Draft Articles of Association.
A detailed discussion took place with the following Members asking questions and taking part in the debate:
· Councillor Paul Clark;
· Councillor Ian Albert;
· Councillor Keith Hoskins.
RESOLVED:
(1) That the content of the report entitled Trading Company Update be noted;
(2) That the Service Director – Commercial be requested to investigate the status of those acting as “Directors” when the company is not yet registered.
REASON FOR DECISIONS: To keep Members informed on the progress in setting up a trading company.
NB: At the conclusion of consideration of the Part 2 report, the Sub-Committee returned to Part 1 to consider any recommendations (Minute 7 refers).