Issue - meetings
Meeting: 23/07/2026 - Shareholder Committee (Item 7)
7 Annual Review of Shareholder Committee Terms of Reference 
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Additional documents:
Decision:
RESOLVED: The Shareholder Committee
1. Approved the revised Terms of Reference as set out at Appendix A
2. Agreed that the revised Terms of Reference be recommended to Cabinet for formal adoption.
3. Noted that the Terms of Reference will continue to be reviewed annually.
REASON FOR DECISION:
The current Terms of Reference state “The Shareholder Committee will review the Terms of Reference annually.” This review is in line with this requirement.
Minutes:
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The Interim Corporate Governance Manager presented the report and summarised the main changes to the terms of reference, including revised language for readability, expanded definition sections, and the introduction of a reserved matters schedule to clarify what issues come before the committee and when.
The updated terms of reference now included clear escalation routes for addressing underperformance by Council Companies, as well as explicit reporting requirements, such as the Committee's obligation to produce an annual report for the Audit Committee. The revised document specifies the Shareholder Committee's function in approving and removing directors from Council-owned companies, formalising this aspect of governance.
Councillor Morley stressed the importance of regular risk register updates, noting the Audit Committee's interest in this area. The Interim Corporate Governance Manager confirmed that risk management processes were being worked on by the Senior Governance Officer within the team and would be included in future annual reports and governance reviews.
RESOLVED: The Shareholder Committee
1. Approved the revised Terms of Reference as set out at Appendix A
2. Agreed that the revised Terms of Reference be recommended to Cabinet for formal adoption.
3. Noted that the Terms of Reference will continue to be reviewed annually.
REASON FOR DECISION:
The current Terms of Reference state “The Shareholder Committee will review the Terms of Reference annually.” This review is in line with this requirement.