In July 2016, the Executive agreed to form a Health and Social Care company known as Pathway for Care Limited. The company was officially incorporated on 22 August 2016.
The Shareholder function of the Council was primarily executed through the Health & Wellbeing Executive Sub Committee. The Sub Committee remit was to undertake all functions of the Council as majority shareholder under the Companies Act 2006. This included approval of a range of documents required to support the company.
A Loan and Draw Down Agreement and Resourcing Agreement, between the Council and Pathway for Care, were set out in the exempt Part 2 part of the agenda for approval. These set out the detailed arrangements for lending to the company and the provision of other (non-financial) resources.
RECOMMENDED that the Loan and Draw Down Agreement between the Council and Pathway for Care, as presented in the exempt Part 2 section of the agenda, be approved including the increased loan ceiling.
RESOLVED that the Resourcing Agreement between the Council and Pathway for Care, presented in the exempt Part 2 section of the agenda, be approved.
Reasons for decision: The agreements were important documents for the governance of Pathway for Care, and for the Council as majority shareholder.
Alternative options: To ask Officers to review the documents further and present them to a future meeting or to offer comments on the draft documents and authorise the Head of Legal Services to agree/finalise the documents taking on board the comments of the Sub Committee.
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