Should the UN Security Council's permanent membership and veto be restructured?

Critically analyze the United Nations reform proposals put forward by former UN Secretary-General Kofi Annan, specifically focusing on Model A and Model B for Security Council restructuring. Discuss the key features, differences, and potential implications of each model for the effectiveness, legitimacy, and representativeness of the UN Security Council. In your answer, consider both the challenges and opportunities these reforms might present for global governance.

The UN Security Council is regarded as a tool for the veto wielding powers and a debating forum for non permanent members. Make a case for restructuring the Council with special emphasis on judicious distribution of veto power.