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  • Issue
  • Issue details

    18/00008 Review of KCC Company Ownership and Governance: Creation of Holding Structure

    The group structure will facilitate improved inter-company productiveness, opportunities for economies of scale and provide a re-aligned corporate governance framework for co-ordinated external growth.

    Decision type: Key

    Reason Key: Expenditure or savings of more than £1m;

    Decision status: Recommendations Approved

    Division affected: (All Division);

    Notice of proposed decision first published: 08/03/2018

    Anticipated restriction: Fully exempt  - View reasons

    Explanation of anticipated restriction:
    Information relating to the financial or business affairs of the Council and KCC companies

    Decision due: Not before 28th Nov 2018 by Deputy Leader and Cabinet Member for Finance and Traded Services
    Reason: In order that the proposed decision can be published for 5 clear working days

    Lead member: Deputy Leader and Cabinet Member for Finance and Traded Services

    Lead director: David Cockburn

    Department: Strategic & Corporate Services

    Contact: Benjamin Watts, General Counsel 03000 416814 Email: benjamin.watts@kent.gov.uk.

    Consultation process

    To receive an update on the governance, management and development of the proposed holding company for KCC’s wholly-owned trading vehicles

    Consultees

    Updates were provided to the Policy and Resources Cabinet Committee on 15 September 2017 and 5 December 2017, and the Cabinet Committee noted and endorsed the proposals. A further update was also provided on 16 March 2018.

    Financial implications: Investment required to: set up the holding group structure; implement the outcomes of the review; and re-define/re-commission contractual arrangements with the group and the Council. The initial investment will be funded by the Council, but will be factored into the longer term financial return plan to the Council

    Legal implications: Establishment of group company board and support staff. Potential contractual, employment and data protection issues arising from the implementation programme.

    Equalities implications: None

    Decisions

    Agenda items