Agenda item

To agree the public minutes of the meeting held on 24 September 2013.

The public minutes of the meeting held on 24 September 2013 were approved as a correct record subject to the following amendment:

Terms of Reference

Amend “to benchmark the salary of the Principal against sector comparators and is (or is not) content with the outcome of the benchmarking” to “to benchmark the salary of the Principal against sector comparators expressing a view and considering whether it is (or is not) content with the outcome of the benchmarking”.

Matters Arising

Salaries

It was noted that salaries of £100k for existing posts (including those with a market forces supplement) and new posts were subject to the approval of the Court of Common Council following the introduction of the Localism Act 2011. It was pointed out that if such a post were to become vacant the Principal would notify the Director of HR as soon as possible.

Annual Report to Board

It was noted that an annual report of the Remuneration Committee would be submitted to the September or November Board meeting.