The suggestion which I have made to the Chairman of the Crown Agents is that he should be willing—and he agrees—to discuss with me any important developments or changes in the policy of Crown Agents.

The function of non-executive directors will be similar to the functions of such directors of other companies of all kinds-namely, to give advice and to help in the taking of decisions by the companies with which they are connected.

The investment policy pursued by the companies should be carried out in accord with the trustee analogy and should be fully consistent with the Crown Agent's name and standing. That means that they will be guided largely by the trustee analogy but not prevented from making investment outside that analogy if the companies so decide.