§ Sir Antony Buckasked the Secretary of State for Defence what will be the composition of the boards of trustees of the royal ordnance pension schemes; and if he will make a statement.
§ Mr. ButlerThe funds of the two royal ordnance pension schemes will be vested in corporate trustees. The boards of directors of each trustee company will comprise, in addition to a chairman who will at least in the first instance be the chairman of the Royal Ordnance plc, five directors representing the management of the company and five directors representing the work force. This variation from the previously intended composition announced by my hon. Friend the Under-Secretary of State for Defence Procurement during the Committee stage of the Ordnance Factories and Military Services Bill— 3 April 1984, column 657—has been developed jointly as a result of proposals made by the trades unions.