Agenda and decisions

Leader Decisions - Thursday, 29 January 2015 10.30 am

Venue: Room 107 - County Hall. View directions

Contact: Anne Gowing  020 8541 9938 Email: anne.gowing@surreycc.gov.uk

Items
No. Item

1.

DECLARATIONS OF INTEREST

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    To receive any declarations of disclosable pecuniary interests from Members in respect of any item to be considered at the meeting.

     

    Notes:

    ·        In line with the Relevant Authorities (Disclosable Pecuniary Interests) Regulations 2012, declarations may relate to the interest of the member, or the member’s spouse or civil partner, or a person with whom the member is living as husband or wife, or a person with whom the member is living as if they were civil partners and the member is aware they have the interest.

    ·        Members need only disclose interests not currently listed on the Register of Disclosable Pecuniary Interests.

    ·        Members must notify the Monitoring Officer of any interests disclosed at the meeting so they may be added to the Register.

    ·        Members are reminded that they must not participate in any item where they have a disclosable pecuniary interest.

2.

Exclusion of the Public

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    That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting during consideration of the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.

     

    P A R T  T W O  -  I N  P R I V A T E

     

3.

Icelandic Bank Deposit - Glitnir Auction

    This report concerns the outcome of the remaining monies held with the failed Icelandic Bank, Glitnir, with the possible auction of the Council’s priority claim as a Glitnirdepositor/creditor. The Local Government Association (LGA) is assisting an auction process on behalf of all interested authorities, resulting in a number of authorities selling their remaining Glitnir deposits concurrently. This report relates to the final £1.6m Glitnir deposit. It does not relate to Landsbanki claim as that was finally settled in February 2013. The final Glitnir deposit remains in Iceland due to the current imposition of capital controls.

     

    In accordance with Access to Information Rule 6.06(f) (Special urgency), the Chairman of the Council Overview and Scrutiny Committee has agreed that the decision cannot be reasonably be deferred because a decision is required by the Local Government Association's solicitors by Friday 30 January 2015.

     

    Exempt:  Not for publication under Paragraph 3

     

    Information relating to the financial or business affairs of any particular person (including the authority holding that information)

     

    Decision:

    1.       That the Local Government Association and its legal representatives be authorised to include the Council’s remaining deposit in Glitnir Bank in a Central Bank of Iceland currency auction.

    2.      That authority be delegated to the Director of Finance, in consultation with the Leader or the Cabinet Member for Business Services and the Monitoring Officer, to submit final papers in respect of the auction and to determine the relevant exchange rate to be included in the offer.