Each Scheme is run by a body of people called a Corporate Trustee. There are five Company appointed directors and four member nominated directors (*) on the Board of the Corporate Trustee of each Scheme. The recent resignation of Ian Downes and the promotion of Paul Bryan, both Main Scheme member nominated directors, have created two vacancies. We’ve started the selection process by asking all members for nominations and this should be completed in early 2010.

The Company appointed directors are the same for both Schemes, although each has different member nominated directors. You can see the list of directors above.

The Trustee Boards meet at least four times a year. The Boards are also supported by two committees, the Finance and Administration Committee and the Common Investment Fund Committee.