Introduction
The 35th Noonu Atoll Council Sitting was primarily focused on the development of Noonu Atoll. The council proposed an amendment to delegate the executive authority over the Atoll Development Plan to Noonu Atoll Company and provide it with capital investment funds. The amendment aims to expedite decision-making and project implementation by empowering the local company. Additionally, a proposal was outlined to provide financial resources to Noonu Atoll Local Authority Company Limited through paid-up capital.
Takeaways
Amendment to the policy framework proposed for delegating the executive authority over the Atoll Development Plan to Noonu Atoll Company.The amendment includes providing additional financial resources to Noonu Atoll Company to fund development projects.A proposal was outlined to provide financial resources to Noonu Atoll Local Authority Company Limited through paid-up capital.
Proposals & Decisions
- Proposal
- This proposal outlines the necessary steps to provide financial resources to Noonu Atoll Local Authority Company Limited. By issuing paid-up capital, the company will receive a substantial infusion of funds to support its operations, projects, and overall financial stability. This capital injection is crucial for the company to effectively execute its mandate of driving development in Noonu Atoll and delivering essential services to its residents.You can also reply to this email to add a task comment.This task is in the Council Decision list - General plan.
- Decision
- The Secretary-General and the Finance Unit are instructed to allocate and disburse a sum of two million Maldivian Rufiyaa (MVR 2,000,000.00) from available funds to purchase shares in Noonu Atoll Local Authority Company Limited. This financial contribution will be made in accordance with the company's Articles of Association, which outline the total authorized capital. By investing this amount, the organization will acquire ownership in the company and support its overall operations and growth.
- Introduced by
Mohamed Adnan
maafaru Island Council President
- In Favour
- 8
- Opposed
- 2 More details
35.1. Providing capital to Noonu Atoll Company
- Proposal
- Atoll Development Plans are comprehensive strategies designed to foster economic growth, social progress, and environmental sustainability of the Atoll. These plans often encompass initiatives in infrastructure, tourism, fisheries, and other vital sectors. Noonu Atoll Company is an entity, council-owned tasked with execution of development endeavors of Noonu Atoll. Its responsibilities include implementing the Atoll Development Plan, attracting investments, and managing local resources.
The proposed policy amendment seeks to elevate Noonu Atoll Company’s role in the atoll’s development. Primarily, it aims to grant the company executive authority over the Atoll Development Plan. This entails empowering the company to make crucial decisions regarding project implementation, resource allocation, and external representation. Secondly, the amendment involves allocating additional financial resources to the company to fund development projects. By granting more authority and funds to the local company, the council aims to expedite decision-making and project implementation.You can also reply to this email to add a task comment.This task is in the Council Decision list - General plan. - Decision
- The Secretary-General, department heads, and the company's board must collaborate on planning and executing the Atoll Development Plan. The agency responsible for implementation can be changed by the President of the Atoll Council, who must inform both the Council Office and the company of any alterations. The Planning Unit will primarily oversee the plan's execution. The Planning Unit Head is tasked with initiating the monitoring process, establishing necessary digital systems within the council office and company, and providing staff training. The company's board is accountable for all planning and execution of tasks assigned to the Noon Atoll Local Authority Company under the Noon Atoll Development Plan. A formal agreement outlining this responsibility must be signed with the Council. The Secretary-General must align the Council Office's future operations with the first amendment to the Rules on Capital Investment, Loans, and Sponsorships for Local Authority Companies and Council Holding Companies.
- Introduced by
Mohamed Basheer
President of Noonu Atoll Council | 2021-Now
- In Favour
- 8
- Opposed
- 2 More details