1. Minutes of First Meeting
2. Matters Arising
3. Appointment of the Fund Manager
4. Trustees Training Day
5. Approval of Transfer of Pensions
6. General Administration Issues
7. Any Other Business
8. Date of the Next Meeting

Present:Mr D Watson
Mr J Kelly
Mr J Dallat
Mr M Carrick

In the Chair:Mr D Watson

Apologies:Mr D Mc Clarty

In attendance:Mr T Evans, Miss C Nolan, Mr E Hobson

1. Minutes of the first meeting were accepted (proposed by J Dallat and seconded by J Kelly).

Mr Hobson confirmed that the Inland Revenue had again refused to waive the 15% limit. Mr Carrick proposed that further investigation should be carried out to establish relevant precedent in advance of any further representation to the Inland Revenue. Mr Evans agreed to take this matter forward.

There was discussion on the level of reserves to be held in the Assembly's bank account and the Trustees' policy on the authorisation of payments. Trustees agreed that a reserve fund of £5,000 should be held in the account and also the following signatory procedures:

.Up to £1,000 would require a signature from Senior Secretariat Administrative staff.

.£1,000 - £10,000 would require at least one Trustee signature.

.£10,000 and above would require at least two Trustees signatures, of which one should be the chairman.

Trustees agreed that approval is not required if Members want to pay arrears by lump sum.

Mr Evans informed Trustees of the reasons for the delay in selection of the Fund Manager. It was agreed that all Trustees will be involved in the selection procedure scheduled for 23 October. It was agreed that GPA and Grant Ballantine should attend the meeting.

The Trustees Training Day has been arranged for Friday 13 October at 10.30am in the Members Private Dining Room. All Trustees received copies of the programme and the draft Statements of Investment Principles which will be discussed at the training day.

Trustees approved two requests to transfer in funds from another scheme. Mr Evans will check with Westminster to establish their procedures in such cases.

Mr Hobson provided a progress report on the Administration of the Scheme.

Mr Hobson informed Trustees that only half of all Members had completed a death Nomination Form. Trustees agreed that a reminder should be issued in the APN which would also indicate that Whips have been contacted about the matter. Mr Evans agreed to explore the possibility of a visit to Westminster in the New Year.

Trustees Training Day, Friday 13 October 2000 at 10.30am.

Next Meeting Monday 23 October 2000.

CATHY NOLAN
Room 256