Decision details

To seek approval to enter into a joint venture agreement to facilitate the sales function required to operate commercial waste collection services

Councillor Ian Wingfield having declared a disclosable pecuniary interest in this item, withdrew from the discussion and decision making on this matter.

Councillor Barrie Hargrove presented this item to cabinet.

RESOLVED:

1.  That the council enter into a joint venture agreement with London Business Waste and Recycling Limited to create a Special Purpose Vehicle Company (SPV) for the purpose of providing a commercial waste collection service. 

2.  That the council’s participation in the joint venture agreement be reviewed four years after commencement to consider the progress that has been made and to determine whether participation should continue. 

3.  That the name of the SPV is London Borough of Southwark Business Waste and Recycling Limited.

4.  That the director of environment be appointed as the ‘a shareholder’ director of the board of the SPV representing Southwark Council.

5.  That authority be delegated to the monitoring officer to sign off the following: 

·  the joint venture agreement specifying the terms and conditions of the operation of the SPV 

·  the fulfilment contract specifying the terms and conditions of the provision of operational services by the council to the SPV

·  the brand licence agreement authorising the use of the Southwark name and logo in accordance with specified terms and conditions.