The title 'the protector' might conjure up visions of Oliver Cromwell to anyone with an interest in history, but, in fact, it's the rather unlikely name for a role involving watching how the Canal & River Trust is handling its investments on behalf of the Government. And its current incumbent, Malcolm Naish - financial expert and boater - has given the Trust a clean bill of health. As part of the transfer of the formerly nationalised British Waterways system from government department Defra to the charitable sector in 2012, BW's commercial property portfolio (worth around £1/2bn and capable of generating some £50m in rental income) was given to CRT. However, this was subject to an agreement that a Protector would be jointly appointed by Defra and CRT to check that this property was being properly managed (see panel for a fuller description of his duties). This includes, for example, ensuring that money from rental or sale isn't used in a way inconsistent with CRT's objectives; that income is maximised; and that undue risks aren't taken.
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