Shareholder Executive Committee (Sub-Committee of Cabinet)

The purpose of the Shareholder Executive Committee [“SEC”] is to act as the Shareholder and take decisions in respect of companies in which the Council has an interest. The responsibility to represent the Council as Shareholder of the Company is an Executive function under the Local Authority (Functions and Responsibilities) England Regulations 2000.   The Committee will have functions relating to the Council’s companies and joint ventures.  It will act as the decision making body in relation to the functions delegated to it.  Support and advice will be provided to the SEC by the Council’s Chief Finance Officer, the Chief Executive and the Council’s Monitoring Officer.  Decisions made by the SEC, will be subject to the same Call-in procedures as for the Cabinet (as set out within the Council’s Constitution in the Overview and Scrutiny Procedure Rules, Part 4-5, Rule 16).   The Committee will not have operational control over the company.  The day to day operation of the company is the responsibility of the Company directors.   Membership and Arrangements   The SEC will comprise the Leader of the Council and all Members of the Executive.  The Leader (or appointee) will chair the SEC and a Vice Chair will be selected from the elected Members of the SEC. The Chair of Overview and Scrutiny, as a Member of the Council from outside of the Executive, may attend to act in the capacity of an observer.   The SEC will meet as a minimum on a quarterly basis and dependent upon any particular pressing items for discussion, may meet more frequently.  The meetings of the SEC are subject to the existing rules for meetings of the Executive (as set out within Part 4-4 of the Council’s Constitution, Executive Procedure Rules).  Whilst many of the items discussed may be subject to Part Two requirements (where certain matters can be heard in private), the meetings shall be open to the public.  The meeting schedule for the SEC will be published along with agendas and subsequent minutes in the usual manner, subject to Part Two requirements and exemptions.