Issue - meetings

An agreement for a financial settlement between BCP Council and the potential new corporate trustee of the Russell-Cotes charity was successfully progressed in late 2023 and was formally agreed at a full meeting of BCP Council in February 2024.

Therefore, an application has been made under Section 73 of the Charities Act 2011, to the Charity Commission to repeal Section 57 of the Bournemouth Borough Council Act 1985, enabling the Council to be replaced as sole trustee by a new corporate trustee. The Commission is currently drafting a Scheme for agreement with BCP Council that will provide appropriate governance arrangements for the future trustee, which will then be agreed by DCMS and in due course laid before parliament.  The Scheme will amend the archaic provisions in the original indentures, ensure the continued interest of the Council and Meyrick estate and deal with other legal issues as advised by the legal advisers.

Progress is also being made in registering the new Company Limited by Guarantee which will act as the sole trustee in place of the Council and starting to recruit to a Board of Directors.

The Chairman presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'C' to these Minutes in the Minute Book.

Public Report 

An agreement for a financial settlement between BCP Council and the potential new corporate trustee of the Russell-Cotes charity was successfully progressed in late 2023 and was formally agreed at a full meeting of BCP Council in February 2024.

Therefore, an application has been made under Section 73 of the Charities Act 2011, to the Charity Commission to repeal Section 57 of the Bournemouth Borough Council Act 1985, enabling the Council to be replaced as sole trustee by a new corporate trustee. The Commission is currently drafting a Scheme for agreement with BCP Council that will provide appropriate governance arrangements for the future trustee, which will then be agreed by DCMS and in due course laid before parliament.  The Scheme will amend the archaic provisions in the original indentures, ensure the continued interest of the Council and Meyrick estate and deal with other legal issues as advised by the legal advisers.

Progress is also being made in registering the new Company Limited by Guarantee which will act as the sole trustee in place of the Council and starting to recruit to a Board of Directors.

The earliest this order can be granted is 6 to 12 months.

Sharp Pritchard gave un update on the draft Scheme which was in confidential session due to the nature of the report.

The Committee was keen to expedite matters, the Committee will review all documents and the legal team at BCP will liaise with the solicitors.

RESOLVED that

The Management Committee review the report and the Scheme and legal advice, as available and

a)    agree the proposals outlined

note that there is potential for the vesting date of the new arrangements to be delayed until 1 April 2026