Anglesey Freeport – Governance Arrangements
To submit a report by the Head of Regulation and Economic Development.
Additional documents:
Decision:
It was resolved –
· To approve the creation by the Council of a Company Limited by Guarantee to act as the Anglesey Freeport legal entity.
· To delegate authority to the Chief Executive in consultation with the Leader and Portfolio Holder for Economic Development, the Director of Function (Council Business)/Monitoring Officer and Director of Function Resources)/ Section 151 Officer to agree the Articles of the Company and its Members Agreement.
· To delegate authority to the Chief Executive in consultation with the Leader and Portfolio Holder for Economic Development, the Director of Function (Council Business)/Monitoring Officer and Director of Function Resources)/ Section 151 Officer to continue negotiations with key stakeholders and, where appropriate, to invite such stakeholders to become members of the Anglesey Freeport Company
Minutes:
The report of the Head of Regulation and Economic Development setting out proposed governance arrangements for the Anglesey Freeport was presented for the Executive’s consideration.
The report was presented by Councillor Llinos Medi, Leader and Portfolio Member for Economic Development. As was reported in a previous report to the Executive in November 2023, the Council’s Officers and its advisors have been working to agree a position on the form of legal entity that would best enable the Freeport to discharge its responsibilities to the Governments and ensure adequate transfer and management of risk and liabilities. Based on the advice received and with the agreement of Stena Line, it is proposed that the Council establishes a Company Limited by Guarantee as the Freeport entity and preferred option. The report outlines the governance considerations involved in this approach and the next steps in the process.
It was resolved –
· To approve the creation by the Council of a Company Limited by Guarantee to act as the Anglesey Freeport legal entity.
· To delegate authority to the Chief Executive in consultation with the Leader and Portfolio Holder for Economic Development, the Director of Function (Council Business)/Monitoring Officer and Director of Function Resources)/ Section 151 Officer to agree the Articles of the Company and its Members Agreement.
· To delegate authority to the Chief Executive in consultation with the Leader and Portfolio Holder for Economic Development, the Director of Function (Council Business)/Monitoring Officer and Director of Function Resources)/ Section 151 Officer to continue negotiations with key stakeholders and, where appropriate, to invite such stakeholders to become members of the Anglesey Freeport Company.