What does the Housing Company Sub Committee do?

The Cabinet has established a Housing Company Sub Committee established specifically to discharge the functions of the Council as regards its corporate shareholding in the Local Authority Housing Company (known as East Devon Homes).

Terms of Reference

To exercise all of the Council’s functions, as shareholder under the Company Act 2006 in relation to the Council’s property trading company, which may include without limitation:

1. To determine the Shareholder Agreement between the Council and the company including the Business Plan.

2. To agree the Articles of Association or any amendment thereof.

3. To appoint and dismiss directors of the company. 

4. To agree any Directors Service Agreements (if required). 

5. Appointment and removal of a Company Secretary and Auditor.

6. To agree any Resourcing Agreement between the Council and company for the use of Council staff and facilities and reimbursement for the same. 

7. To agree any loan agreements or draw-down of Council financing (subject to funds being made available by Council).

8. To agree any reserved matter required by the Articles of Association or Shareholder Agreement. 

9. To agree the transfer of Council assets into the company where Cabinet would have otherwise had authority to dispose of the asset.