The directors have established Coal LSL's affairs on sound principles of commercial management.
Most of Coal LSL's work is currently carried out under contract by the administrators. A Secretary to Coal LSL is also engaged under contract to undertake the secretariat and treasury functions related to Coal LSL's administration as a body corporate and the Fund's investment of its assets.
Specialist services such as internal audit, actuarial services, legal counsel and asset consultants are retained under contract on an 'as required' basis.
For risk management, all investments are held by the Master Custodian who is also responsible for ensuring that investment managers only invest in accordance with the strict investment strategy given to them by Coal LSL.
The basis of management is determined by Coal LSL's governing legislation and policies approved by the Board of Directors. Coal LSL's policies include an investment policy and investment strategy for the investment of the Fund’s assets.