Agenda and draft minutes

Cabinet Sub Committee (Kyndi Ltd Shareholder Board) - Wednesday, 31 January 2024 5.45pm

Venue: St George's Centre, Pembroke Road, Chatham Maritime, Chatham ME4 4UH. View directions

Contact: Jon Pitt and Teri Reynolds - Democratic Services Officers 

Media

Items
No. Item

1.

Appointment of Chairperson

The Sub Committee is asked to note that the Leader of the Council has appointed Councilor Murray as Chairperson.

Minutes:

The Sub-Committee noted that the Leader of the Council had appointed Councillor Teresa Murray as the Chairperson for this Sub-Committee.

2.

Apologies for absence

Minutes:

There were none.

3.

Declarations of Disclosable Pecuniary Interests and Other Significant Interests pdf icon PDF 371 KB

Minutes:

Disclosable pecuniary interests

There were none.

Other significant interests (OSIs)

There were none.

Other interests

There were none.

4.

Governance arrangements pdf icon PDF 182 KB

Additional documents:

Minutes:

Background:

 

This report provided details of the updated governance arrangements for the Local Authority Trading Companies (LATCos), following Cabinet’s agreement in July 2023, to change the arrangements and establish Cabinet Sub Committees to act as the as shareholder boards.

 

The Sub Committee was asked to note its terms of reference, which were set out at Appendix 1 to the report.  The Sub Committee was also asked to approve the Articles of Association and the Memorandum of Understanding (including the scheme of delegation), which were set out at Appendices 2 and 3 to the report respectively.  It was also noted that there was a typographical error at 1.1.3 of the report, which should instead of requested the Sub Committee to recommend Kyndi Ltd, at its next Board meeting, to adopt the revised documents.

 

The Chief Executive Officer from Kyndi confirmed that the company was working on its revised Business Plan, which was on track to be presented to its Board and then the Sub-Committee in the coming weeks.

 

Decision

number:

 

Decision:

 

 

The Cabinet Sub Committee noted the terms of reference, as set out at Appendix 1 to the report.

17/2024

The Cabinet Sub Committee approved the Articles of Association, as set out in Appendix 2 to the report and the Memorandum of Understanding (including the scheme of delegation), as set out in Appendix 3 to the report.

18/2024

The Cabinet Sub Committee recommended that Kyndi Ltd, at its next board meeting, adopt the revised Articles of Association and the Memorandum of Understanding.

 

Reasons:

 

Approval of the recommendations above will improve the corporate governance of the Council’s LATCos.