Purpose

Aequus, the Councils wholly owned Company has presented its business plan for approval of the Shareholder for its next business plan period 2024-27 alongside other Reserve Matters for approval to appoint the next non-executive Chair to the Board.

Decision

The Leader as Shareholder;

Approves the Aequus Business Plan for the period 2024/25 to 2026/27 as set out at Appendix 1 subject to a review by the Board within 6 months following the appointment of the chair and an updated plan being produced.

Approves the Aequus Non-Executive Remuneration be set at £5,000 per Annum for a Non-Executive Director and £12,000 per Annum for the Non-Executive Chair.

Approves the Appointment of Sally Higham as Non-Executive Chair with effect from 7th May 2024 for a first term of 4 years.

Approves to delegate the Shareholder function role on the Brunel Partnership Board to the chair of the Avon Pension Fund Committee

Reasons for the decision

Aequus is a wholly owned B&NES group of companies, established by the Executive in accordance with the powers set out under S1 of the Localism Act 2011(the general power of competence). The Council approved a Transfer Agreement with Aequus in January 2020 which provides the basis for the transfer of surplus land and development sites from the Council to the Company, to support the delivery of the Shareholder objectives and subject to Shareholder approval of development.

Alternative options considered

None the decisions are an executive function of the Council as Shareholder