This replaces the Shareholder Board and
Investment Board.
The Board
will:
(a) approve the allotment of further
shares in a Company (whether
to third
party shareholders or the Council)
(b) periodically evaluate financial
performance of a Company
(c) approve the
strategic direction of a Company
(c) approve the sale of
the Council’s investment in a company
(d) agree capital or revenue
investments of £1m and above proposed by a Company
(e) consider any recommendation from
Company Directors to cease
trading
(f)
report
to the Council annually on trading activity
(g) consider and approve
business case proposals concerning the use of the Council’s
landholdings that contribute to the delivery of the Council’s
investment strategy
(h) approve all property
investment acquisitions or disposals (unless law requires full
council approval)
(i) approve
investment property asset management expenditure of £1m and
above
(j)
approve the provision of finance to the Council’s wholly
owned
property
company, Halsey Garten Property Ltd
(k)
approve
the strategic management of the overall portfolio to
ensure a
balanced portfolio is maintained
(l)
approve non-property investments.