Agenda and draft minutes

Apologies for absence were received from Henry Colthurst, Simon Duckworth, Alderman Robert Howard, Deputy Catherine McGuinness and James de Sausmarez.

There were no declarations.

To agree the public minutes and non-public summary of the meeting held on 19 May 2021.

RESOLVED - That the public minutes and non-public summary of the meeting held on 19 May 2021 be approved as an accurate record.

To note the public minutes and non-public summary of the meetings held on 20 May 2021, 30 June 2021, 14 September 2021 and 30 November 2021.

RESOLVED - That the public minutes and non-public summary of the Financial Investment Board meetingsheld on held on 20 May 2021, 30 June 2021, 14 September 2021 and 30 November 2021 be noted.

To note the public minutes and non-public summary of the meetings held on 26 May 2021, 16 July 2021, 17 September 2021 and 26 November 2021.

RESOLVED - That the public minutes and non-public summary of the Property Investment Board meetings held on 26 May 2021, 16 July 2021, 17 September 2021 and 26 November 2021 be noted.

The Town Clerk to be heard.

The Town Clerk gave the Committee an overview of changes to the Court of Common Council and its committee structure arising from the governance review undertaken by Lord Lisvane, particularly in respect of investments, to come into effect for the ensuing municipal year. The Committee noted that the Investment Committee would be abolished, with its function to be replaced by joint meetings of relevant committees to replace and enhance investment strategy development and monitoring process. Furthermore, the Property and Financial Investment Boards would become joint sub committees of the Policy & Resources Committee, Finance Committee, and the BHE Board.

Members noted that overall, there would be a net decrease in the total number of committees and other bodies, and that the Court of Common Council would consider a white paper to implement the agreed changes at its meeting in April 2022. The Chair commented that this would therefore be the last meeting of the Investment Committee in its current format.

In response to a question from a Member regarding the Covid-19 Approval Procedure, the Town Clerk advised that the designation of officers responsible for ratifying decisions would be reviewed to ensure this was appropriate.

There was no other business.

The Chair then gave thanks to all for their work in supporting the Committee’s business, and the City Corporation’s investments over recent years, including the Deputy Chairman, the Chairmen of the Investment Boards, Members of the Committee and officers. The Committee also gave thanks to the Chair for his leadership of the Committee.

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

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To agree the non-public minutes of the meeting held on 19 May 2021.

RESOLVED - That the non-public minutes of the meeting held on 19 May 2021 be approved as an accurate record.

To note the non-public minutes of the meetings held on 20 May 2021, 30 June 2021, 14 September 2021 and 30 November 2021.

RESOLVED - That the non-public minutes of the Financial Investment Board meetings held on 20 May 2021, 30 June 2021, 14 September 2021 and 30 November 2021 be noted.

To note the non-public minutes of the meetings held on 26 May 2021, 16 July 2021, 17 September 2021 and 26 November 2021.

RESOLVED - That the non-public minutes of the Property Investment Board meetings held on 26 May 2021, 16 July 2021, 17 September 2021 and 26 November 2021 be noted.

Report of the City Surveyor

The Committee received a report of the City Surveyor.

Report of the City Surveyor

The Committee received a report of the City Surveyor.

Report of the City Surveyor

The Committee received a report of the City Surveyor.

Report of the City Surveyor

The Committee received a report of the City Surveyor.

Report of the Chamberlain

The Committee received a report of the Chamberlain.

There were no questions.

There was one item of other business.