Pensions CIV Sectoral Joint Committee - 25th February 2015 - whole document in pdf format
Item 8 - Heads of Terms for Amending the Articles of Association and Drafting a Shareholder Agreement
Summary
This report presents the committee with a draft Heads of Terms document that sets out the specific matters that need to be addressed in amending the current ‘model’ Articles of Association that have been adopted for London LGPS CIV Ltd. It also presents proposals for a shareholder agreement which would contain matters to be agreed by the participating boroughs but which would not normally go into the articles.
Recommendations
Item 8 - Heads of Terms for Amending the Articles of Association and Drafting a Shareholder Agreement
Item 7 -Responsibilities of a member acting as a shareholder and the key duties and responsibilities of the Operating company (presentation by Eversheds)
Summary
This report presents members with a brief introduction to items 5, 6 & 7 which will be short presentations, with time for questions and discussion, from the CIV programme’s advisors (Deloitte and Eversheds) and the Asset Servicer (Northern Trust). Each presentation is designed to increase member’s knowledge and understanding of the CIV programme and the Authorised Contractual Scheme (ACS) structure that sits at its heart.
Recommendations
The committee is recommended to note the contents of this report.
Item 6 - Introduction to Role of the Asset Servicer (presentation by Northern Trust)
Summary
This report presents members with a brief introduction to items 5, 6 & 7 which will be short presentations, with time for questions and discussion, from the CIV programme’s advisors (Deloitte and Eversheds) and the Asset Servicer (Northern Trust). Each presentation is designed to increase member’s knowledge and understanding of the CIV programme and the Authorised Contractual Scheme (ACS) structure that sits at its heart.
Recommendations
The committee is recommended to note the contents of this report.
Item 5 - Establishing the Operator for Authorisation (Presentation by Deloitte)
Summary
This report presents members with a brief introduction to items 5, 6 & 7 which will be short presentations, with time for questions and discussion, from the CIV programme’s advisors (Deloitte and Eversheds) and the Asset Servicer (Northern Trust). Each presentation is designed to increase member’s knowledge and understanding of the CIV programme and the Authorised Contractual Scheme (ACS) structure that sits at its heart.
Recommendations
The committee is recommended to note the contents of this report.