The Audit and Risk Management Committee considered a report and appendices containing exempt commercially sensitive information, under Paragraph 3, Schedule 12A of the Local Government Act 1972. Legal advice was given to the Committee on the Council’s legal obligations under the development agreement.

The report provided an update on the progress with Celtic Manor Resort to date and provided assurance to the Committee that the Council had and continued to fulfil its obligations within the Development agreement, ensuring that the Council was not exposed to any financial risk.

Resolved – That the report be noted.