Agenda of Joint Shareholders Committee

N-logotype-black-wide Joint Shareholders Committee

17 April 2018

Page No.

1. Apologies

Nil

2. Confirmation of Order of Business

3. Interests

3.1 Updates to the Interests Register

3.2 Identify any conflicts of interest in the agenda

4. Public Forum

5. Confirmation of Minutes

5.1 14 November 2017 8 - 12

Document number M3117

Recommendation

That the Joint Shareholders Committee

Confirms the minutes of the meeting of the Joint Shareholders Committee, held on 14 November 2017, as a true and correct record.

6. Port Nelson Limited half yearly report to 31 December 2017 13 - 18

Document number R8909

Recommendation

That the Joint Shareholders Committee

Receives the report Port Nelson Limited half yearly report to 31 December 2017 (R8909) and its attachment (A1919039).

7. Tasman Bays Heritage Trust Half Yearly Report to 31 December 2017 and draft Statement of Intent 2018/19 19 - 73

Document number R9101

Recommendation

That the Joint Shareholders Committee

Receives the report Tasman Bays Heritage Trust Half Yearly Report to 31 December 2017 and draft Statement of Intent 2018/19 (R9101) and its attachments (A1940853, A1940851, A1940852 and A1871384); and

Notes the delivery of the Tasman Bays Heritage Trust Draft Statement of Intent 2017/18 (A1724801) as required under the Local Government Act 2002; and

Provides the following feedback to the Tasman Bays Heritage Trust Board on its draft Statement of Intent:

· That Nelson City Council and Tasman District Council request that repayment of outstanding loans remains at $100,000 per annum per Council; and

· An update on options to house and care for the Nelson Tasman regional heritage Collection be provided via the Joint Shareholders Working Group at the next meeting of the Joint Shareholders Committee; and

· Strategic Objective Five in the Statement of Intent is altered to read ‘To provide Appropriate Care for the Regional Collection and to prepare it for relocation to a fit-for-purpose storage facility’.

8. Nelson Airport Limited half-yearly report to 31 December 2017 74 - 97

Document number R9143

Recommendation

That the Joint Shareholders Committee

Receives the report Nelson Airport Limited half-yearly report to 31 December 2017 (R9143) and its attachments (A1929980 and A1929981).

9. Policy Review: Joint remuneration for directors of CCTOs 98 - 103

Document number R9076

Recommendation

That the Joint Shareholders Committee

Receives the report Policy Review: Joint remuneration for directors of CCTOs (R9076) and its attachment (A1929440); and

Approves the reviewed and amended Nelson City and Tasman District Council Policy for Jointly setting remuneration for Directors of Council Controlled Trading Organisations (A1929440).

10. Exclusion of the Public

Recommendation

That the Joint Shareholders Committee

Confirms in accordance with section 48(5) of the Local Government Official Information and Meetings Act 1987, Paul Steere and Robert Evans remain after the public has been excluded, for Item 1 of the Public Excluded agenda (Nelson Airport Limited – Draft Statements of Intent 2018 - 2019), as they have knowledge that will assist the Council; and

Notes in accordance with section 48(6) of the Local Government Official Information and Meetings Act 1987, the knowledge that Paul Steere and Robert Evans posess relates to the Nelson Airport Limited – Draft Statements of Intent 2018 – 2019.

Recommendation

That the Joint Shareholders Committee

Excludes the public from the following parts of the proceedings of this meeting.

The general subject of each matter to be considered while the public is excluded, the reason for passing this resolution in relation to each matter and the specific grounds under section 48(1) of the Local Government Official Information and Meetings Act 1987 for the passing of this resolution are as follows:

Item	General subject of each matter to be considered	Reason for passing this resolution in relation to each matter	Particular interests protected (where applicable)
1	Joint Shareholders Committee Meeting - Public Excluded Minutes - 14 November 2017	Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7.	The withholding of the information is necessary: · Section 7(2)(b)(ii) To protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information
2	Nelson Airport Limited - Draft Statement of Intent 2018-2019	Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7	The withholding of the information is necessary: · Section 7(2)(h) To enable the local authority to carry out, without prejudice or disadvantage, commercial activities
3	Port Nelson Limited director reappointments	Section 48(1)(a) The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7	The withholding of the information is necessary: · Section 7(2)(a) To protect the privacy of natural persons, including that of a deceased person

11. Re-admittance of the public

Recommendation

That the Joint Shareholders Committee

Re-admits the public to the meeting.

Joint Shareholders Committee Minutes - 14 November 2017

Minutes of a meeting of the Joint Shareholders Committee

Held in the Council Chamber, Civic House, 110 Trafalgar Street, Nelson

On Tuesday 14 November 2017, commencing at 1.30pm

Present: Her Worship the Mayor of Nelson R Reese (Chairperson), Nelson City Councillors I Barker, M Courtney, P Matheson, G Noonan and T Skinner, His Worship the Mayor of Tasman R Kempthorne, Tasman District Councillors S Bryant, P Canton, D Ogilvie and T Tuffnell

In Attendance: Nelson City Councillors B McGurk, M Rutledge and S Walker, Nelson City Council City Group Manager Community Services (C Ward), Group Manager Corporate Services (N Harrison), Tasman District Council Corporate Services Manager (M Drummond) and Governance Adviser (P White)

Apology: Tasman District Councillor T King

1. Apologies

Resolved JSC/2017/023

That the Joint Shareholders Committee

Receives and accepts an apology from Councillor King.

Her Worship the Mayor/His Worship the Mayor of Tasman Carried

2. Confirmation of Order of Business

Her Worship the Mayor, R Reese, confirmed that she would be asking the Committee to resolve to allow the Chairperson of Tasman Bays Heritage Trust, Ms Olivia Hall to remain during the public excluded session.

There were no further changes to the order of business.

3. Interests

There were no updates to the Interests Register, and no interests with items on the agenda were declared.

4. Public Forum

There was no public forum.

5. Confirmation of Minutes

5.1 22 August 2017

Document number M2837, agenda pages 6 - 11 refer.

Resolved JSC/2017/024

That the Joint Shareholders Committee

Confirms the minutes of the meeting of the Joint Shareholders Committee, held on 22 August 2017, as a true and correct record.

His Worship the Mayor of Tasman/Courtney Carried

6. Port Nelson Limited Final Statement of Corporate Intent 2017/20

Document number R6985, agenda pages 12 - 42 refer.

Group Manager Corporate Services, Nikki Harrison spoke to the report.

The members noted that it was unrealistic to request changes to the Statement of Corporate Intent (SOCI) at this stage, however they asked Ms Harrison to ensure that there was further detail about the Port’s risk management and recovery processes in the next SOCI, particularly noting emergency management recovery roles and biosecurity as a risk to the Port.

Resolved JSC/2017/025

That the Joint Shareholders Committee

Receives the report Port Nelson Limited Final Statement of Corporate Intent 2017/20 (R6985); and

Notes the delivery of the Port Nelson Ltd Statement of Corporate Intent 2017/20 (A1845342) as required under the Port Companies Act 1988; and

Confirms that the Port Nelson Ltd Statement of Corporate Intent 2017/20 meets shareholder expectations.

His Worship the Mayor of Tasman/Courtney Carried

7. Exclusion of the Public

Olivia Hall, of Tasman Bays Heritage Trust, was in attendance for Item 2 of the Public Excluded agenda to answer questions and, accordingly, the following resolution was required to be passed:

Resolved JSC/2017/026

That the Joint Shareholder Committee

Confirms, in accordance with section 48(5) of the Local Government Official Information and Meetings Act 1987, that the following people remain after the public has been excluded as they have knowledge that will assist the Committee:

· Olivia Hall for item 2 on the Public Excluded Agenda (Establishment of a Nelson Provincial Museum Working Group); and

Notes, in accordance with section 48(6) of the Local Government Official Information and Meetings Act 1987, that the knowledge that they possess relates to the Tasman Bays Heritage Trust.

Ogilvie/Matheson Carried

Resolved JSC/2017/027

That the Joint Shareholders Committee

Excludes the public from the following parts of the proceedings of this meeting.

Item

General subject of each matter to be considered

Reason for passing this resolution in relation to each matter

Particular interests protected (where applicable)

Joint Shareholders Committee Meeting - Public Excluded Minutes - 22 August 2017

Section 48(1)(a)

The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7.

The withholding of the information is necessary:

· Section 7(2)(a)

To protect the privacy of natural persons, including that of a deceased person

· Section 7(2)(h)

To enable the local authority to carry out, without prejudice or disadvantage, commercial activities

· Section 7(2)(i)

To enable the local authority to carry on, without prejudice or disadvantage, negotiations (including commercial and industrial negotiations)

Establishment of a Nelson Provincial Museum Working Group

Section 48(1)(a)

The public conduct of this matter would be likely to result in disclosure of information for which good reason exists under section 7

The withholding of the information is necessary:

· Section 7(2)(b)(ii)

To protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information

Ogilvie/Matheson Carried

The meeting went into public excluded session at 1.45pm and resumed in public session at 2.30pm.

8. Re-admittance of the Public

Resolved JSC/2017/028

That the Joint Shareholders Committee

Re-admits the public to the meeting.

Her Worship the Mayor/His Worship the Mayor of Tasman Carried

There being no further business the meeting ended at 2.30pm.

Confirmed as a correct record of proceedings:

Chairperson Date

Item 6: Port Nelson Limited half yearly report to 31 December 2017: Attachment 1

Joint Shareholders Committee

17 April 2018

REPORT R8909

Port Nelson Limited half yearly report to 31 December 2017

1. Purpose of Report

1.1 To receive the half yearly report to 31 December 2017 from Port Nelson Limited.

2. Recommendation

That the Joint Shareholders Committee

Receives the report Port Nelson Limited half yearly report to 31 December 2017 (R8909) and its attachment (A1919039).

3. Background

3.1 The Port Companies Act 1988 requires delivery of the half year report within two months of the end of the period to the shareholders and the Minister of Transport. This requirement has been met.

3.2 The Port Company presented on the six monthly result at the Joint Committee of Nelson City and Tasman District Council held on 27 March 2018 and are therefore not presenting again today.

4. Discussion

4.1 The half yearly report of Port Nelson for the period ending 31 December 2017 is included as Attachment 1.

4.2 For the first six months of this financial year Port Nelson reported total revenue of $31.7 million, up 11% against budget and up 19% on the same period last year.

4.3 Cargo volumes for the first half of the year were ahead of budget with 1.644 million tonnes handled against the budget of 1.499 million, and up on the 1.406 million handled at the same time last year.

4.4 Net profit after tax (NPAT) of $4.9 million is 24.8% above budget and 17% higher than the same time last year (last year NPAT adjusted for asset impairments of $1.2 million).

4.5 The report shows that Port Nelson have largely met its SOI targets for the first six months except for:

4.5.1 Lost time injury (LTI) frequency rate of 2.3 versus a budget of less than 1.5 (lower than the same time last year of 3.5).

4.5.2 Capital expenditure programme (and therefore debt to equity ratio) is below budget by $3.7 million due to the timing variations.

4.6 The Statement of Corporate Intent for Port Nelson Limited is not due to be received until 31 July 2018 and will be brought to the 22 August 2018 Joint Shareholders Committee meeting.

5. Options

5.1 There is no decision to be made on the half yearly report. The company has complied with the legislation in preparing and presenting the report to Council.

6. Conclusion

6.1 Port Nelson has complied with the Port Companies Act 1988 in preparing a half yearly report.

Nikki Harrison

Group Manager Corporate Services

Attachments

Attachment 1: A1919039 - Port Nelson Ltd 6 monthly report to 31 December 2017 ⇩

PDF Creator

Item 7: Tasman Bays Heritage Trust Half Yearly Report to 31 December 2017 and draft Statement of Intent 2018/19

Joint Shareholders Committee

17 April 2018

REPORT R9101

Tasman Bays Heritage Trust Half Yearly Report to 31 December 2017 and draft Statement of Intent 2018/19

1. Purpose of Report

1.1 To receive the half yearly report from the Tasman Bays Heritage Trust (TBHT) and to consider the Trust’s draft Statement of Intent 2018/19.

2. Summary

2.1 TBHT has delivered its six monthly report to December 2017 and a draft Statement of Intent, as required under the Local Government Act 2002.

2.2 The six monthly report shows stronger visitation and increased revenues through the museum shop. The Trust’s financial position is stable.

2.3 The draft Statement of Intent has been updated from previous years’ formats and is broadly in line with the Councils’ expectations. The only substantive issue that the Councils may wish to consider is the indicated level of loan repayments.

3. Recommendation

That the Joint Shareholders Committee

Notes the delivery of the Tasman Bays Heritage Trust Draft Statement of Intent 2017/18 (A1724801) as required under the Local Government Act 2002; and

Provides the following feedback to the Tasman Bays Heritage Trust Board on its draft Statement of Intent:

· That Nelson City Council and Tasman District Council request that repayment of outstanding loans remains at $100,000 per annum per Council; and

· An update on options to house and care for the Nelson Tasman Regional Heritage Collection be provided via the Joint Shareholders Working Group at the next meeting of the Joint Shareholders Committee; and

4. Background

4.1 Under the Local Government Act, TBHT is required to deliver a draft Statement of Intent (SOI) to the Councils on an annual basis no later than 1 March each year.

4.2 The Councils have an opportunity to provide feedback to the Board of TBHT within two months of this date and the Trust then has until 30 June 2018 to deliver the final SOI to the Shareholders.

4.3 On 7 November 2017, the Joint Committee of Nelson and Tasman District Councils resolved:

Confirms the general expectations for Statements of Intent/Statements of Corporate Intent set out in paragraphs 6.1 to 6.13 in report R6994; and

Confirms the specific matters to be included in the Statements of Expectation letters as:

· To ensure that Risk Management include cybersecurity; and

· Begin a conversation around fair pay and gender equity in employment as part of good employer obligations under the Local Government Act; and

· Recovery planning, in particular a request to identify potential hazards and how recovery is planned for these hazards; and

· Sustainability (across all CCOs where not currently included), including offsetting carbon emissions, and consideration of wider environmental impacts/outcomes.

4.4 The letter of expectation (Attachment 4) was sent to TBHT in December 2017 outlining the general expectations and specific matters that the Councils would like to see addressed in the Statement of Intent for the 2018/19 year.

4.5 TBHT delivered a draft Statement of Intent (Attachment 2) and a half yearly report to December 2017 (Attachment 1) prior to 1 March 2017, meeting the requirements of the Local Government Act. The Trust also sent a cover letter (Attachment 3) satisfactorily responding to the matters contained in the letter of expectation.

4.6 The Chairperson, Olivia Hall, and the Chief Executive, Lucinda Blackley-Jimson, will be in attendance at the meeting to present the information and to answer questions.

5. Discussion

Half Yearly Report

5.1 TBHT presented information from its half yearly report to the Joint Committee of Nelson City and Tasman District Councils on 27 March 2018.

5.2 The half yearly report shows that TBHT is on track to meet the majority of its objectives for the year. Visitor numbers are well up on the comparable period for 2016, at 32,691, and are tracking ahead of the target of 51,805 target for the year.

5.3 Revenue is slightly ahead of budget, and direct costs below budget, meaning the net surplus is $74,624 better than budgeted. The Board has continued to exercise sound financial management of the Trust.

5.4 The Trust has engaged in a number of outreach activities across the region and continues to work closely with the region’s smaller museums on exhibitions, and training.

5.5 It is pleasing to note that income from the Museum’s shop is starting to make a more significant contribution to revenue.

Draft Statement of Intent

5.6 The Draft Statement of Intent (SOI) contains an updated purpose statement and new mission statements. It sets out increasing visitor targets (60,000 for 2018/19 compared with current year’s target of 51,805) and forecasts a stable financial position over the next three years.

5.7 The draft SOI contains eight strategic objectives for the year:

· To plan for and begin to execute a capital works project which will safely and appropriately house and care for the Nelson Tasman regional heritage Collection

· To become a must-see visitor destination and become recognised as integral to the Nelson Tasman experience

· To establish and maintain sustainable funding streams

· To actively support and collaborate with Nelson Tasman cultural heritage organisations

· To provide optimal care for the regional Collection and to prepare it for relocation to a fit-for-purpose storage facility

· To continue to develop a strong regional Collection which is relevant and valued by our Nelson Tasman communities

· To improve access to the Museum’s Collection using digital technology

· To foster a great team culture and be a desirable museum for which to work

5.8 Each objective has associated Key Performance Indicators (listed in the table starting on page 10 of the draft SOI).

5.9 The cover letter (Attachment 3) deals with specific requirements in relation to the letter of expectation.

6. Discussion

6.1 TBHT have clearly worked on developing their strategic plan and the SOI clearly sets out the priority workstreams for the year.

6.2 The SOI sets out in Strategic Objective One that the TBHT is developing plans for a project to house and care for the Nelson Tasman regional heritage collection. An update on this planning is requested via the Joint Shareholders Working Group to enable the Joint Shareholders Committee to be informed of the options under considerations and implications that arise.

6.3 Strategic Objective Five is ‘To provide optimal care for the regional Collection and to prepare it for relocation to a fit-for-purpose storage facility’. The use of the word optimal generally means to ‘the best or most favourable’. This may not be achievable given financial constraints. It is recommended that the wording be changed to read ‘appropriate’.

6.4 The SOI as received indicates that the Trust intends to return its repayment of the outstanding loans to the Councils from $100,000 per annum per Council to the previous figure of $25,000 per annum per Council. The increased level of repayment was agreed as part of the 2015 Statement of Intent and was for a period of three years only (2015/16 to 2017/18).

6.5 The Councils were keen to see debt being reduced prior to any subsequent investment in a capital works programme. As this is still the Trust’s intention, the Committee may wish to see the repayments remain at $100,000 per Council per year. The loan amount currently sits at $925,000 due to each Council.

6.6 All other matters are deemed to be in line with the Councils’ expectations.

7. Options

7.1 There is no decision to be made on the half yearly report. TBHT has complied with the legislation in preparing and presenting the report to the Councils.

7.2 In relation to the draft SOI, the Committee can choose to either provide feedback to the Board of TBHT or accept the SOI as the final version (with any minor amendments). If the Committee does submit substantive feedback then the amended SOI will be brought back to the Committee in August.

7.3 In relation to the level of loan repayments, the Committee has two main options:

Option 1: Request loan repayments remain at $100,000 per annum per Council
Advantages	· Consistent with approach over last three years · Trust continues to repay its loans in a timely way prior to capital investment
Risks and Disadvantages	· Current budget in draft SOI would need to be re-worked · Likely to have an implication for TBHT’s work programme in the SOI
Option 2: Accept loan repayments will revert to $25,000 per annum per Council
Advantages	· In line with draft SOI budgets · No impact on TBHT’s work programme
Risks and Disadvantages	· TBHT could end up retaining significant debt whilst entering into any capital development programme

8. Conclusion

8.1 TBHT has met its statutory timeframes for submission of its half yearly report and draft Statement of Intent. The Committee has the ability to accept the draft SOI as it is or to provide feedback to TBHT for inclusion in its final SOI, due by 30 June 2018.

Roger Ball

Acting Group Manager Community Services

Attachments

Attachment 1: A1940853 - Tasman Bays Heritage Trust - Six Monthly Report to Dec 2017 - 29Mar2018 ⇩

Attachment 2: A1940851 - Tasman Bays Heritage Trust - Statement of Intent - 2018 - 2021 - 29Mar2018 ⇩

Attachment 3: A1940852 - Tasman Bays Heritage Trust - Statement of Intent - Covering Letter - 28Mar2018 ⇩

Attachment 4: A1871384 - Letter of Expectation - Tasman Bays Heritage Trust 2018-19 - 1Dec2017.pdf ⇩

Important considerations for decision making

1. Fit with Purpose of Local Government

The preparation of a draft Statement of Intent and delivery of the half yearly report is a requirement of Schedule 8 of the Local Government Act.

2. Consistency with Community Outcomes and Council Policy

The museum contributes to the outcome ‘Our communities have opportunities to celebrate and explore their heritage, identity and creativity’ and ‘Our communities have access to a range of social, educational and recreational facilities and activities’

3. Risk

There is a low risk that the Statement of Intent does not deliver the outcomes expected by the Councils. There is medium risk that expectations of funding for a project to house and care for the Nelson Tasman regional heritage collection may not be realised.

4. Financial impact

The provision of the museum is a budgeted activity for both Councils.

5. Degree of significance and level of engagement

This matter is of low significance and no further consultation is proposed.

6. Inclusion of Māori in the decision making process

Maori have not been specifically consulted on this matter. Iwi are represented on the Trust Board.

7. Delegations

The Joint Shareholders Committee has the responsibility for considering and deciding on all matters relating to jointly owned Council Controlled Organisations and Council Controlled Trading Organisations, including statements of intent, statements of corporate intent, half yearly reports, the appointment of directors and setting of directors’ fees.

Item 9: Policy Review: Joint remuneration for directors of CCTOs

Joint Shareholders Committee

17 April 2018

REPORT R9076

Policy Review: Joint Remuneration for Directors of CCTOs

1. Purpose of Report

1.1 To consider the reviewed and amended Policy for jointly setting remuneration for Directors of Council Controlled Trading Organisations (the Policy).

2. Recommendation

That the Joint Shareholders Committee

Receives the report Policy Review: Joint Remuneration for Directors of CCTOs (R9076) and its attachment (A1929440); and

Approves the reviewed and amended Nelson City and Tasman District Council Policy for Jointly Setting Remuneration for Directors of Council Controlled Trading Organisations (A1929440).

3. Background

3.1 Under s57 of the Local Government Act 2002:

A local authority must adopt a policy that sets out an objective and transparent process for—

(a) the identification and consideration of the skills, knowledge, and experience required of directors of a council organisation; and

(b) the appointment of directors to a council organisation; and

(c) the remuneration of directors of a council organisation.

3.1 This report deals with the s57(c) requirements – Nelson City and Tasman District Councils have a separate policy for joint appointment of directors [s 57(a) and s57(b)] which is due for review in November 2018.

3.2 The Policy covers the setting of remuneration for directors of jointly owned Council Controlled Trading Organisations (CCTOs) i.e. Nelson Airport Limited and Port Nelson Limited. The Policy was last reviewed in September 2014, and is scheduled for review every three years.

4. Discussion

4.1 The remuneration policy has been used annually since 2014 in setting the level of director fees at Nelson Airport Limited and Port Nelson Limited. The policy intent is that the remuneration pool of the CCTOs will be between the lower quartile and median of the survey data of similar organisations.

4.2 In 2014 when the first review under the revised policy was undertaken, the Nelson Airport Limited director remuneration pool was 30% below the lower quartile data for similar organisations. During the intervening years the gap has been progressively reduced so the pool at $120,049 is now only 6% below the lower quartile director’s fees (based on the 2017 survey data).

4.3 In 2014, the Port Nelson Limited director remuneration pool was 29% above the lower and 3% below the median quartile. During the intervening years the pool has been increased to $235,421 which remains at 29% above the lower quartile. The increases have not however maintained the relativity to the median quartile. The current fees are now 14% below the median quartile for directors fees (based on the 2017 survey data).

4.4 The current policy reasonably balances the private sector and public good elements of being a director of a Council controlled trading organisation noting that there have been no issues with recruiting and retaining directors on both these Boards.

Minor amendments

4.5 Minor amendments have been made to the policy to reflect that the Joint Shareholders Committee has the delegated authority to set the director remuneration pools for the CCTOs.

5. Options

5.1 The Committee can either adopt the revised policy in full or request further changes.

Option 1: Adopt policy as amended by officers
Advantages	· Policy amendments are minor in nature
Risks and Disadvantages	· none
Option 2: Request further changes to the policy
Advantages	· Gives Committee opportunity to influence policy
Risks and Disadvantages	· Significant changes may have unintended consequences when applied in practice · Delay in adoption of the policy

6. Conclusion

6.1 The Councils must have a policy on remuneration for directors of CCTOs which is jointly held. Officers have amended the current policy to reflect current delegations of the Joint Shareholders Committee.

Nikki Harrison

Group Manager Corporate Services

Attachments

Attachment 1: A1929440 - Procedure for Jointly setting Remuneration for Directors of CCTO's ⇩

Important considerations for decision making

1. Fit with Purpose of Local Government

This Policy is a statutory requirement.

2. Consistency with Community Outcomes and Council Policy

This Policy contributes to the outcome ‘Our Council provides leadership and fosters partnerships, a regional perspective, and community engagement’.

3. Risk

The Policy amendments are minor in nature and are considered low risk.

4. Financial impact

None

5. Degree of significance and level of engagement

This matter is of low significance as the Policy applies to only a small number of people and is reflective of good governance.

6. Inclusion of Māori in the decision making process

Maori have not been involved in developing this Policy.

7. Delegations

The Joint Shareholders Committee has the responsibility for deciding matters in relation to jointly held Council Controlled Organisations and Council Controlled Trading Organisations, including director remuneration and director appointments.