Decision details

To set up an LLP between Rushcliffe Enterprises Ltd and Public Sector Partnerships (PSP)

It was RESOLVED that:

a)    the creation of a limited liability company partnership (LLP) between RBC Enterprises Ltd and PSP facilitating Limited (PSPF) be approved.

b)    the final terms of the agreement be delegated to the Deputy Chief Executive in consultation with the Chief Executive and the Leader provided that all the due diligence checks had been carried out successfully.

c)     the LLP arrangement required to establish an LLP Partnership Board with equal Council and PSPF representation be noted. This will be supported by an Operations Board for officers.

d)    the Council representation on the Partnership Board will be determined by RBC Enterprises Ltd.

e)    Council officer representation on the Operations Board will be determined by the Chief Executive or his deputy.

f)      Insurance and indemnity be provided for Member and Officer representatives of the LLP.

g)    it be noted that the LLP will be an additional option for the Council to use to deal with its property portfolio.

h)    it be noted that further reports will be submitted to Cabinet in respect of relevant proposals to pursue property-related projects through the LLP.