Issue - meetings

Creation of Design and Build Development Subsidiary

Meeting: 05/02/2019 - Sutton Shareholdings Board (Item 22)

22 Creation of Design and Build Development Subsidiary of Sutton Living Limited pdf icon PDF 141 KB

This report presents proposals for establishing a separate development subsidiary to enable the recovery of VAT by Sutton Living Limited. Establishing a subsidiary is a reserved matter for the Sutton Shareholdings Board.

Minutes:

Councillor Garratt arrived at the outset of the item at 18.34.

 

Mike Kirk, Director of Sutton Living briefly presented the report.

 

RESOLVED: that

1.    Sutton Living Limited establish a Design and Build Development Subsidiary (“Sutton Living Design and Build Limited”) for the purposes of VAT recovery be agreed.

2.    Authority to finalise the appropriate company structure and put in place all necessary contractual and governance arrangements be delegated to the Shareholder Representative, or their nominee, in consultation with the Chair of the Shareholdings Board.