Committee details

Shareholder Sub Committee

Purpose of committee

The Terms of Reference of the Shareholder Sub Committee are:

 

1.    To receive reports on the creation of HTS (Property and Environment) Limited and HTS Group Limited and approve key decisions, including, but not exclusively, the Articles of Association, the scheme of delegation and determining shareholder controls.

 

2.    To be consulted on the appointment and dismissal of the HTS (Property and Environment) Limited and HTS Group Limited Directors and external auditors.

 

3.    To hold the HTS (Property and Environment) Limited and HTS Group Limited Boards to account.

 

4.    To receive and agree the HTS (Property and Environment) Limited and HTS Group Limited Business Plans.

 

5.    To receive financial and performance monitoring reports and accounts.

 

6.    To approve the cessation of existing business areas and approve new areas of business that fall outside of the thresholds contained within the Articles of Association and any scheme of delegation that flows from that.

 

7.    To approve any proposals to change the HTS (Property and Environment) Limited and HTS Group Limited’s capital or corporate structure.

 

Relationship withHTS Group Limited and HTS (Property and Environment) Limited

 

1.    The Shareholder Sub-Committee (“SSC”) is not empowered to act as a director ofHTS (Property and Environment) Limited or HTS Group Limited and the board of directors of neither HTS (Property and Environment) Limited nor HTS Group Limited shall not seek or accept instruction from the SSC as a director or quasi-director. 

 

2.    The SSC is empowered to consider the options available toHTS (Property and Environment) Limited for improving its performance or mitigating adverse consequences in the light of actual or reasonably anticipated circumstances and offer non-binding proposals, recommendations and opinions (all of which HTS (Property and Environment) Limited accepts shall be without liability on the part of the Council or any individual member) as a representative of Harlow District Council on any matter affecting the Council as a shareholder in HTS (Property and Environment) Limited.  HTS (Property and Environment) Limited acknowledges that the SSC may take into consideration solely the interests of the Council in giving any proposals, recommendations or opinion.

 

3.    HTSGroup Limited and HTS (Property and Environment) Limited shall provide to the SSC upon request the agendas and support papers provided to HTS Group Limited and HTS (Property and Environment) Limited and shall do so at the same time, as far as possible, as the HTS Group Limited and HTS (Property and Environment) Limited boards receive those agendas and papers (except for minutes, which need only be supplied after signature).  HTS (Property and Environment) Limited shall in addition supply the SSC with all information and data reasonably requested by the SSC to enable it to reach an informed judgement on any matter within its purview under these Terms of Reference.

 

HTS(Property and Environment) Limited shall provide for each meeting of the SSC at least one Director of the HTS (Property and Environment) Limited qualified to address issues indicated by the SSC for discussion.

 

Meetings are open to members of the public, except for when confidential information is being considered.

Membership

Contact information

Support officer: Adam Rees.

Phone: (01279) 446057

Email: adam.rees@harlow.gov.uk