The Company Secretary of the Housing Group of Companies has submitted two reports for consideration.

a)    Governance Update – Housing Group of Companies

To update the Shareholder and Joint Venture Group on recent developments in regard to the composition of the Boards of three Housing Group companies.

Recommendations: That the Shareholder and Joint Venture Group resolves to:

1. Note that the Housing Group of companies has made the changes set out in this report to the composition of the Boards of each of three Housing Group companies: Oxford City Housing Limited; Oxford City Housing (Development) Limited and Oxford City Housing (Investment) Limited (collectively “the Housing Group”).
2. Note that the two individuals selected as the new non-executive directors have been recorded at Companies House as Board directors of the Housing Group.
3. Note that a further recruitment campaign is now required to recruit and appoint a new MD under the previous Shareholder delegated approval.

b)    Register of Directors’ Interests – Housing Group of Companies

To update the Shareholder and Joint Venture Group on the proposal to update the Register of Interests of directors of the Housing Group of Companies

Recommendation: That the Shareholder and Joint Venture Group resolves to

1. note that with the recent changes and additions to the Boards of the Housing Group of companies - Oxford City Housing Limited; Oxford City Housing (Development) Limited and Oxford City Housing (Investment) Limited (collectively “the Housing Group”) - it is proposed that a revised Register of Directors’ Interests be compiled and held for directors’ and shareholders’ information.

Purpose of report: to seek approval for the proposed governance arrangements.

Recommendations:

that the Shareholder and Joint Venture Group resolves to:

1.  Approve the proposals for the recruitment of two NEDs (Non-Executive Directors) for the OCHL group of companies, the proposed job description and the proposed remuneration;

2.  Agree that two elected members as representatives of the Shareholder, the Chief Executive of the Council and an OCHL Board Director will be included in the recruitment panel;

3.  Agree that formal shareholder consent be obtained on the final selected NED applicants chosen for appointment;

4.  Agree that consideration is given to the need for and recruitment of a permanent MD as part of the outcomes of the current OCHL review.

The report and Appendix 2 are public. Appendix 1 is private as it includes matters considered to be commercially sensitive and relating to the finance or business affairs of the Council, the company, and other third-parties.

The Group discussed a report and appendices asking for approval for the proposed governance arrangements.

The Shareholder and Joint Venture Group agreed the recommendations in the report.