Issue - meetings

To consider a report by the Head of Resources.

To agree to the loan advanced to Huntingdonshire Regional College being transferred to Cambridge Regional College following merger of the two colleges.

To provide authority for the Head of Resources to instruct 3c Shared Services Legal Practice to take all necessary action in respect of the merger of the colleges, the Loan Agreement and the legal charge.

Further to Minute No. 90 of their meeting held on 16th March 2017, the Cabinet considered a report by the Head of Resources, an addendum and relating Appendices (copies of which are appended in the Annex to the Minute Book) to transfer the responsibility of an existing loan granted to Huntingdonshire Regional College to Cambridge Regional College following the merger of the two colleges. Whereupon, it was;

RESOLVED

a)  that the loan advanced to Huntingdonshire Regional College be transferred to Cambridge Regional College following merger of the two colleges; and

b)  that authority be delegated to the Head of Resources to instruct 3C Shared Services Legal Practice to take all necessary action in respect of the merger of the colleges, the Loan Agreement and the legal charge.

A report on the agreement for the transfer of a loan is to be presented to the Panel.

Consideration was given to a report by the Head of Resources regarding the agreement for the transfer of a loan. Following a couple of questions the Panel agreed that the Cabinet should approve the transfer of the loan.