Agenda item

Establishment of Celtic Freeport Company Limited

Minutes:

Decisions:

 

That having had due regard to the integrated impact assessment:

 

1.              The current progress in respect of the approval of the Outline Business Case be noted.

 

2.              The establishment of a Company Limited by Guarantee, to be known as Celtic Freeport Company Limited be approved, and the Council be authorised to take a membership interest in Celtic Freeport Company Limited, and delegated authority be granted to the Chief Executive and Head of Legal and Democratic Services, to sign the appropriate agreements to document this interest.

 

3.              The Articles of Association and Draft Members Agreement enclosed at Appendix 1 and Appendix 2 to the private, circulated report be approved, and delegated authority be granted to the Chief Executive and Head of Legal and Democratic Services (in consultation with the Leader) to sign the Members Agreement on the part of Neath Port Talbot County Borough Council.

 

4.              Delegated authority be granted to the Chief Executive (in consultation with the Leader and relevant Cabinet Member) to agree any minor variations to the Member’s Agreement and Articles of Association that might be necessary prior to signature, on the basis that such delegation shall not extend to any alternative financial commitments on the part of Neath Port Talbot County Borough Council.

 

5.              The Director of Environment and Regeneration be nominated as the Neath Port Talbot County Borough Council representative to the Celtic Freeport Company Limited Board of Directors and be authorised to act as a Director of Celtic Freeport Company Limited.

 

6.              The Director of Environment and Regeneration be provided with an indemnity in the form annexed at Appendix 3 to the private, circulated report.

 

Reason for Decisions:

 

To seek approval from members in relation to the proposed Company governance documentation, that the Company be constituted as an operational company and that the Council obtain a membership and appoint a director to sit on the board of the Company.

 

Implementation of Decisions:

 

The decisions are for immediate implementation, following the agreement of the Cabinet Scrutiny Chair.

 

Consultation:

 

The Freeport bid has been developed by the two local authorities, Associated British Ports and Milford Haven Port Authority, working in partnership. Wider consultation has also taken place with a wide range of public and private sector organisations including business networks within the Freeport proposed area.