The Trading & Enterprise
Board (TEB) has delegated authority to carry out the following
functions on behalf of the Cabinet, namely:
a)
To monitor and report regularly on high level
performance and report on areas of concern to the
Cabinet;
b)
To receive and consider Business Plans from each
Trading Company including any information on profit and loss
accounts;
c)
To receive and consider any variations from the
approved Business Plans;
d)
To receive and consider reports on new business
initiatives. It is proposed that the
Council as shareholder should require each company to submit to the
TEB a business plan for each new area of activity and to obtain the
TEB’s approval for every new contract outside the approved
Business Plans, which the company proposes to enter with an annual
value in excess of £25,000 (these values to be subject to
review by the TEB);
e)
To receive and consider periodic reports on the
performance of key areas of business and main areas of business of
each company. Such reports will
initially be required quarterly in respect of each business area or
contract which has been approved or exceeds the values set in
paragraph d) above, but these values are to be subject to review by
the Committee;
f)
To review any significant identified risks of the
Companies on behalf of the Cabinet for the purposes of managing
those risks;
g)
To receive and consider annual budget and capital
spending plans for each company;
h)
To recommend to Cabinet whether or not to approve
any applications from the Trading Companies for:
(i)
consents to acquire or dispose of land outside the
approved Business Plan
(ii)
consents to enter into third party loan
agreements
(iii)
the transfer of Council assets including
land
(iv)
the granting of loans from the Council
(v)
approval of the Business Plans and
variations;
i)
To receive and consider quarterly budget monitoring
reports from each company ;
j)
To assist each company in the exploration of other
trading opportunities with a view to achieving greater
efficiency;
k)
To be responsible for ensuring that the
Council’s investment and or assets that may be transferred to
or used by the established Trading
Companies are properly protected and used for the purposes approved
of by the Cabinet;
l)
To ensure formal directions of the Council or
Cabinet are brought forward to the Trading Companies and agree the
basis of implementation by the company; including making changes to
the governance arrangements for the Trading Companies;
m)
To appoint and remove
the Directors of the Companies (subject to the approval of the
Leader of the Council)
n)
To act as the Council’s (in its capacity as
shareholder) nominated body to give all consents and approvals,
including those that may be given under the Shareholder Agreement,
subject to the approval of the Cabinet in respect of those matters
set out in (h) above.
o)
To nominate a member of the TEB (subject to the
approval of the Leader) to act as the representative of the Council
at Shareholder meetings of the Trading Companies.