Decision

A decision has been taken by the Leader to approve the following written resolutions, as the shareholder for Ubico Limited:

1. 1       To approve the revised shareholders agreement
2. 2       To approve the revised articles of association

This decision is subject to the other shareholder representatives of the company making a similar decision.

Reasons for the decision

Ubico, the Council’s environmental services provider, is a teckal company wholly owned by local authorities including Cheltenham Borough Council and is required to approve any revisions to the shareholders agreement and articles of association.  The Leader of the Council, as shareholder representative, has delegated authority to approve the shareholders agreement and articles of association.

Alternative options considered

Part 3 of the constitution provides that the Leader shall,’ Represent (or arrange for a Cabinet Member or Officer to represent) the Authority as shareholder or member in a company in which the Authority holds an interest’.