Miss
Ellie Dunnet, Head of Finance, introduced her report providing an
overview of the governance arrangements in place for the
Council’s property company, Maidstone Property Holdings
Ltd. Miss Dunnet explained
that:
·
The report was intended to assist Members with their
responsibilities in relation to corporate governance and risk
management.
·
An Internal Audit review of subsidiary company
governance was undertaken last year, and identified a number of
areas for improvement within the company’s governance
structure and assurance mechanisms. The
report set out how the Officers had responded to these
recommendations.
·
The report also made reference to a review of the
current governance arrangements which was due to commence shortly
in light of developments in the role of the property company, and
it was recommended that a report on the outcomes of this exercise
be brought back to a future meeting of the Committee.
In
response to a question, Miss Dunnet confirmed that based on advice
received, there was no obligation to register the name of the
Company Secretary at Companies House.
RESOLVED: That
1. The governance
arrangements currently in place for Maidstone Property Holdings
Ltd. be noted.
2.
A report detailing the outcomes of the review to be undertaken of
the current governance arrangements in place for the Company
be submitted for consideration at a
future meeting of the Committee.