Agenda item

(A)      Proposed Amendments to Standing Orders – proposing amendments to Standing Orders relating to the disposal of property assets.

16 February 2017

(A) Proposed Amendments to Standing Orders in relation to disposal of property assets

In July 2016, the Finance Committee conducted a review of the operations of its Sub-Committees. One of the proposals emerging from that review was that the Corporate Asset Sub-Committee (CASC) be responsible for decisions regarding the disposal of properties which had been declared as surplus to the Corporation’s operational requirements (and which were not suitable as investment property assets).

The proposal was that, when properties were declared as surplus to the City Corporation’s operational requirements, the City Surveyor’s Investment Property Group would be given the opportunity to determine whether it would wish for the properties in question to be retained as investment property assets. Properties would only be passed to CASC if they are not appropriate as investment property assets.

In order to enact this proposal, an amendment was required to the Standing Orders which governed the disposal of property assets (Standing Orders 56 and 57) to provide authority to CASC for these transactions. Proposed wording for the amended Standing Orders was set out at Appendix 1 to the report and the Court was recommended to approve the changes.

Resolved – That approval be given to the amendment of Standing Order No. 56 and Standing Order No. 57, as set out in Appendix 1 to the report.