Decision

1. That the Members’ (Shareholders’) Agreement, as set out at Appendix A to the report, be NOTED.
2. That the Articles of Association of the company, as set out at Appendix B to the report, be NOTED.
3. That the summary business plan and associated charts, as set out at Appendix C to the report, be NOTED.
4. That the contract procurements scheduled for this financial year, including any spend above the threshold of Officer decision, be APPROVED.
5. That the procurement process of the company’s auditors to be appointed at the first Annual General Meeting be APPROVED.
6. That the loan of £100,000 to the company upon incorporation be AGREED and the availability of a further £200,000 loan facility if required, subject to confirmation by the Section 151 Officer that funding is affordable, legal and required to maintain a positive cash-flow, be APPROVED.
7. That authority be delegated to the S151 Officer to finalise the terms of the working loan capital and any subsequent loan.
8. That authority be delegated to the Chief Executive in consultation with the Leader of the Council to further discuss with potential Members’ (Shareholders’), their engagement with the Interim Vehicle.