Agenda item

The Council had before it a report by the Head of Legal and Democratic Services which sought approval for the reorganisation of the Trusts outlined in the Trust Register in Appendix A; and outlined and sought approval for the ongoing work to review, wind up and/or amalgamate uneconomic or obsolete Trusts in the three phases outlined in the report.

The report recommended:-

that the Council -

(a)          acting in their capacity as trustees, instruct the Head of Legal and Democratic Services, following consultation with the Head of Finance, to take the necessary legal actions to reorganise the City of Aberdeen Council Guildry and Mortification Funds (charity number SC011857);

(b)          acting in their capacity as trustees of the Bridge of Dee Trust (charity number SC021297) and Bridge of Don Fund (charity number SC018551), agree to wind up the Bridge of Dee Trust and amalgamate its funds with the Bridge of Don Fund, and instruct the Head of Legal and Democratic Services, following consultation with the Head of Finance, to ensure that the necessary documentation was completed;

(c)          acting in their capacity as trustees of the Bridge of Don Fund, approve the making of a grant of £36,216 from the Bridge of Don Fund to Aberdeen City Council for use by Aberdeen City Archives, with the University of Aberdeen, for the transcription of late medieval burgh records project as detailed in Appendix B, and instruct the Head of Legal and Democratic Services, following consultation with the Head of Finance, to ensure that the necessary documentation was implemented;

(d)          acting in their capacity as trustees of the Lands of Skene (charity number SC018533) and Lands of Torry (charity number SC021299), instruct the Head of Legal and Democratic Services, following consultation with the Head of Finance, to take necessary legal actions to prepare constitutional documents for the Lands of Skene and Lands of Torry;

(e)          note the ongoing progress in winding up the Jack Wood Trust;

(f)           instruct the Head of Legal and Democratic Services following consultation with the Head of Finance, to investigate the various options for Phase 2 of the trust review which would involve the rationalisation of the Education Endowments Investment Fund (EEIF); and

(g)          instruct the Head of Legal and Democratic Services, following consultation with the Head of Finance, to review the remaining Trusts on the trust register and bring the Phase 3 proposals on winding up or amalgamating these to Council.

DECLARATION OF INTEREST

At this juncture, Councillor Reynolds declared an interest as a previous member of the Grampian Japan Trust which he understood may not have been formally wound up. Councillor Reynolds did not consider that the nature of his interest required him to leave the meeting.

The Council resolved:-

(i)            to approve the recommendations; and

(ii)          to instruct the Head of Legal and Democratic Services to (a) recirculate Appendix A to members highlighting the 16 funds within the EEIF which had been registered as charities, however noting that these were identified as SC025063; and (b) check with Aberdeen City Archives whether they held any information on the Corporation Prize Fund and why it had not been used.