The Cabinet resolved to:
(i) Approve the creation of a Reside Management Company on the terms set out in paragraph 2 of the report;
(ii) Agree that the shareholder role of the Council be exercised through the Cabinet advised by the Shareholder Panel;
(iii) Delegate authority to the Chief Operating Officer, in consultation with the Director of Law and Governance, to commence the recruitment and selection of a Chair of the Board of Directors; and
(iv) Delegate authority to the Director of Law and Governance to prepare and execute articles of association or partnership agreements and any relevant legal agreements or documents on behalf of the Council to implement the creation of the new Reside company.