Agenda item

Investment Committee Appointments

The Town Clerk was heard in respect of appointments to the Investment Committee. 

Members noted that the Policy and Resources Committee was responsible for appointing eight Members to the Investment Committee; however, owing to the timescales arising from the coronavirus pandemic and the Court of Common Council’s decision to undertake its Annual Appointment of Committees at its meeting on 16 July 2020, the scheduling of meetings was such that this was not due to take place until the September meeting.

It was suggested that it would be pragmatic for the Policy & Resources Committee to make its eight appointments to Investment Committee during July, thereby enabling the Investment Committee to meet ahead of the summer recess and appoint its Financial, Property and Social Investment Boards for the ensuing year, given the key issues concerning income generation at this point in time. This proposal was agreed, with delegated authority granted to the Town Clerk, in consultation with the Chair and Deputy Chairman, to make the appointments to Investment Committee following an electronic indicative ballot.

RESOLVED: That authority be delegated to Town Clerk, in consultation with the Chair and Deputy Chairman, to approve appointments to the Investment Committee on the basis of an indicative electronic ballot process, to be undertaken following the Annual Court meeting on 16 July 2020.