The
Shareholder Committee will:
·
Protect the Council’s investment in the
Company (like Miocare and Northern
Roots) and make sure the Company meets the Council’s goals
and achieves results in line with its policies.
·
Approve the Shareholder’s Agreement when
necessary.
·
Receive, review, and provide feedback on the annual
report and financial accounts of the Council Company, and decide
how these will be published and shared.
·
Appoint and remove Company Directors and ensure they
follow the Council's goals for the Company.
·
Agree on hiring any non-executive or external
Directors and decide how they will be paid.
·
Appoint the Company auditors.
·
Decide how any surplus or dividends from the Council
Company will be distributed, following the Shareholder’s
Agreement, and carry out any other strategic functions related to
the Council's ownership of shares.
·
Approve any guidelines for how the Council interacts
with the Company (like a code of conduct for Council
officers).
·
Use any reserved powers mentioned in the
Company’s Shareholder Agreement or Articles of
Association.
·
Refer any conflicts between the Council Company and
other Council-owned companies to the Cabinet for
resolution.
·
Provide protection (indemnity) to all Members and
Officers who act as Directors on the company Board.
The following will apply to the Shareholder
Committee meetings:
·
Agendas are published at least 5 working days before
meetings. Private meetings are announced 28 days in advance. If
there's an urgent matter, the Chair of Scrutiny must agree. Key
decisions will also be announced 28 days ahead; if not, the Chair
of Scrutiny must be informed or agree if there are less than 5
working days before the meeting.
·
Council Members can attend both the public and
private parts of meetings.
·
Members of the public can attend the public part of
meetings.
·
Meetings will be scheduled once a year
Extraordinary
meetings can be arranged at any time by the Leader of the Council
or the Board of Directors. A minimum of 3 members must be present,
including either the Leader of the Council or the Statutory Deputy
Leader.
Substitutions will not be allowed.
The Council will
appoint 4 members of the Cabinet:
·
The Leader of the Council.
·
The Statutory Deputy Leader.
·
The Cabinet Member for Value for Money and Sustainability.
·
The Cabinet Member for Don’t Trash Oldham.
The Leader of the Council will
chair the meetings, or if they are not available, the Statutory
Deputy Leader will take over.
The meetings will also include
the Company Directors, the Company Secretary, and the Shareholder
Committee advisors.
At each meeting, the Chair will
approve the minutes from the previous meeting.
The Shareholder Committee will
make decisions regarding the Council’s total investment in
the Company. Decisions will be made by those present, with each
member having one vote. If there is a tie, the Chair will cast the
deciding vote.
