The Duchy of Lancaster is administered on behalf of the Sovereign, the Duke of Lancaster, by the Chancellor and Duchy Council.

The Duke of Lancaster
Since 1399, the title Duke of Lancaster has been held by the reigning Sovereign. Revenue from the Duchy of Lancaster forms a vital component of the Sovereign's income, and is held separately from that of other Crown properties. 

Her Majesty Queen Elizabeth II is the current Duke of Lancaster. During a reign which has lasted over 50 years, Her Majesty has taken a keen interest in the estate, paying regular visits to the Surveys.

The title Duke of Lancaster continues to be used, even for a female monarch. At gatherings of Lancastrians within the County Palatine and worldwide, the toast is: "The Queen, Duke of Lancaster!"

Chancellor
The Chancellor of the Duchy of Lancaster is responsible to the Sovereign for the administration of the Duchy. However, the Chancellor has delegated certain functions, particularly those relating to asset management, to the Duchy Council.

Appointment to the role of Chancellor is made by Her Majesty The Queen on the recommendation of the Prime Minister. The Chancellor is accountable to the Sovereign personally, rather than to Parliament, for the Duchy's affairs, and receives and surrenders the seals of office separately from other Cabinet colleagues. However, the Chancellor does answer Parliamentary Questions on matters relating to his Duchy responsibilities.

The current holder of the title is The Rt. Hon. Liam Byrne MP. He was appointed Chancellor of the Duchy of Lancaster in October 2008, following the retirement of Ed Miliband.  He has been the Member of Parliament for Birmingham Hodge Hill since 2004.

The Duchy Council
The Chancellor has delegated certain duties relating to the assets of the Duchy of Lancaster to the Duchy Council.

The Council is responsible to the Chancellor of the Duchy of Lancaster, and the Chancellor to the Sovereign, for the Duchy's affairs. Appointments to the Council are made by The Queen on the recommendation of the Chancellor.

The Council meets six times a year. Members of the Council include two ex-officio appointments: the Receiver General of the Duchy, who is Keeper of the Privy Purse, and the Clerk of the Council, who is also the Chief Executive Officer of the Duchy of Lancaster. Other Council members are chosen for their particular business skills, or for their links with the County Palatine. The Chancellor appoints one member of the Council to act as Chairman of the Council.

The current members are:

Lord Shuttleworth (Chairman of the Council)

Lord Shuttleworth was appointed Chairman of the Council of the Duchy of Lancaster in January 2006 and has been a Member of the Council since 1998. He also serves as Lord Lieutenant of Lancashire.

Mr Paul Clarke FRICS (Clerk of the Council and Chief Executive)

Paul Clarke has been Chief Executive, Clerk of the Council, Keeper of the Records and Surveyor General of the Duchy of Lancaster since 2000.

Sir Alan Reid KCVO (Receiver General)

As Keeper of the Privy Purse and Treasurer to the Queen, Alan Reid has been Receiver General of the Duchy of Lancaster since 2002.

Mr Robert Hildyard Q.C (Attorney General)

Robert Hildyard was appointed Attorney General of the Duchy of Lancaster in September 2006.

Ms Anne Richards (Member of the Council)

Anne Richards has been a member of the Council of the Duchy of Lancaster since January 2005. Ms Richards is Chief Investment Officer of Aberdeen Asset Managers.

Mr Hugh Seaborn (Member of the Council)

Hugh Seaborn has been a member of the Council of the Duchy of Lancaster since January 2005. Mr Seaborn is Chief Executive of the Portman Estate.

Mr Mark Hudson (Member of the Council)

Mark Hudson has been a member of the Council of the Duchy of Lancaster since June 2006.  A former Chairman of the Country Land and Business Association, Mr Hudson assumed the Chairmanship of the Game Conservatory Trust this June.

Mr Martin Beaumont (Member of the Council)

Martin Beamont joined the Duchy of Lancaster Council on 1st November 2007.  A former Chief Executive of the Cooperative Group, he assumed Chairmanship of Skillsmart Retail this year.

Mr Chris Adcock (Executive Member of the Council)

Chris Adcock became an executive member of the Duchy Council in July 2007.  He joined the Duchy as CFO in 2003.