Cabinet considered the report and RESOLVED to:
1. Agree to bring forward the termination of the Council’s Agreement with NPS Peterborough Limited to 31 January 2023 or as soon as reasonably possible thereafter.
2. Note that upon termination of the Council’s Agreement with NPS Peterborough Limited, property and estate management services will be provided in-house by the Council and staff will transfer accordingly.
3. Delegate authority to the Executive Director of Corporate Services and S151 Officer in consultation with the Cabinet Member for Finance and Resources and the Director of Law and Governance and Monitoring Officer to agree to decommission and wind up NPS Peterborough Limited or dispose of its shareholding in accordance with the shareholders agreement and articles of NPS Peterborough, subject to appropriate due diligence and their agreement that it is appropriate to do so.
4. Agree that the Council, as a shareholder of NPS Peterborough Limited, will exercise its vote and give such consent as may be required, to give effect to these recommendations.
5. Delegate authority to the Executive Director of Corporate Services and S151 Officer, in consultation with the Director of Law and Governance and Monitoring Officer to:
a) negotiate and enter into a Commercial Transfer Agreement with NPS Peterborough Limited in respect of the termination;
b) in respect of the earlier termination date referred to in recommendation 1 above, approve any financial payment to NPS Peterborough Limited; and
c) issue notices, negotiate and enter into any other documentation and take all other steps reasonably necessary in the view of the Executive Director of Corporate Services and S151 Officer to facilitate and give effect to these recommendations