Remit and
Terms of Reference:
Strategic oversight of the Council’s Development Companies
(Active4Today and Arkwood Developments Ltd) including: their
performance; management of the relationship between the Council and
the two companies; compliance with the Governance Agreements; and
“health check” of the two companies by the Council as
sole shareholder; and specifically to:-
1.
Recommend to Council the respective Articles of
Association for consideration and approval.
2.
Recommend to Council the respective Governance
Agreements between the Council and the two companies for
consideration and approval.
3.
Agree the constitution for the two Boards of
Directors and to approve the appointment of directors to the
Boards, and to have the power to remove directors of the Board and
approve best practice policies in relation to such
appointments.
4.
Receive, review and approve the companies’
annual reports and business plans.
5.
Review the performance of the two
companies.
6.
Determine, on behalf of the Council, in relation to
Arkwood Developments, how it should exercise the functions flowing
from its ownership of shares, including decisions on payment of
dividends from the company’s profit after
taxation.