MAIDSTONE BOROUGH COUNCIL
RECORD OF DECISION OF THE Leader of the Council
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Decision Made: |
14 October 2009 |
SPECIAL URGENT REPORT - SEERA Limited
Issue for Decision
To consider joining SEERA Limited.
Decision Made
That the Council joins SEERA Limited at a membership cost of £1.
Reasons for Decision
The Council joined South East England Councils (“SEEC”) earlier this year following the Government’s Sub National Review of Economic Development and Regeneration. SEEC have now invited the Council to join SEERA Limited (a copy of letter of invitation is attached at Appendix A to the Report of the Democratic Services Manager).
SEERA Limited was originally set up to manage the finances of the Regional Assembly, but it is now wholly owned by local authorities in the South East and the link with the Assembly was removed last year.
SEERA Limited holds substantial reserves which can be used ‘to promote the economic, social and environmental well-being of all who live and work in the South East of England’ and is currently the ‘accountable body’ for the funding received from the Department of Communities and Local Government (“CLG”) to cover the cost of work.
SEERA Limited is a company which is limited by guarantee and the maximum liability of any local authority is £1 – the cost of membership.
The Articles of Association (attached at Appendix B to the Report of the Democratic Services Manager) have been revised to increase the number of Directors to six with effect from the Annual General Meeting (“AGM”) on 16 October 2009.
Alternatives considered and why rejected
The Council could decide not to join SEERA Limited. This is not recommended as the Council would not be represented and we would therefore not have the opportunity to put across the views of this Council.
Background Papers
None
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