Terms of Reference

Terms of Reference of the Technical Committee

The Terms of Reference of the Technical Committee are:

• To make recommendations to the Board of FLTCS for the effective management of information systems for fishermen and other mariners in relation to materials whether attached to the sea bed or not in UK waters in connection with oil or gas drilling, exploration, production or ancillary activities.

• To manage effective implementation of the recommendations accepted by the Board.

• When requested by the Board to make recommendations for technological innovations to such information systems.

• When requested by the Board to make recommendations in relation to projects for the secondary objects of the FLTC and to manage the effective implementation of any such recommendations accepted by the Board.

• To make recommendations to the Board for the effective development of relationships with third parties.

The Terms of Reference of the Investment Committee

The Terms of Reference of the Investment Committee are:

On behalf of FLTC, and in accordance with the Statement of Funding Principles and the agreed investment policy:

• To recommend to the Board

1. an Investment Manager and any other Adviser as appropriate to be appointed to advise the Investment Committee on the investment of funds received by the FLTC other than funds required for short term operational purposes and
2. the terms of any such appointment

• To agree Terms of Appointment with an Adviser approved by the Board

• To manage the FLTC’s relationship with an Adviser and where necessary to delegate powers in that connection to not less than any two members of the Investment Committee

• To meet as near quarterly as practicable to review and consider advice and reports from an Adviser and to determine what instructions to give to an Adviser

• To provide the Board with regular reports on the performance of funds invested by FLTC.