Decision

The Outline Business Case (OBC) was approved for the Albert Gubay Business School, subject to the Welsh Government and UK Government's approval of the assurance process undertaken, and Bangor University addresses the matters set out in the report, as described in Section 7, and request that a Full Business Case is prepared for the Sub-committee's consideration.

To authorise the Portfolio Director in consultation with the Chair, the Vice-chair, the Section 151 Officer and the Monitoring Officer to agree on draft terms in accordance with this report as a basis for the final funding arrangements for the project to be committed subject to Full Business Case approval.

To confirm that the Sub-committee's approval is valid for a period of six months, and should the project not proceed to an approved Full Business Case during this time, it will be required to return and represent the business case to the Sub-committee for approval.