The Director presented an update on pooling to consider the Authority’s stance in relation to the admission of further funds to the Border to Coast Pensions Partnership as a result of the Government’s Fit for the Future process.

RESOLVED: Members

1. Agreed that the funds identified in para 5.2 should be supported to become members of the Border to Coast Pensions Partnership.
2. Note the Heads of Terms for admission of new partners set out at Appendix B which will form the basis on which the admission of new partners is negotiated.
3. Note the intention that SYPA offer to relinquish the role of Secretary to the Joint Committee as part of the approach to signifying the start of a new partnership.
4. Authorise the Director to cast the Authority’s shareholder vote in support of the admission of the named funds as shareholders in the operating company and in support of any other shareholder resolutions, including, but not limited to, for the issue of further shares, necessary to facilitate this process.
5. Authorise the Head of Governance and Corporate Services to sign and attach the Authority’s seal as necessary to the legal agreements needed to give effect to these decisions, including but not limited to the Shareholder Agreement and Inter-Authority Agreement.

Cllr Alexi Dimond abstained.