The trust is an independent charity, with the government providing a one-off endowment of £1 billion to cover the cost of maintaining the waterways and their heritage. The trust operates under the jurisdiction of the Charity Commission and is governed by a board of Trustees. The trust is responsible for maintaining the infrastructure of the canals, such as locks, bridges, and towpaths, as well as ensuring that they are safe and accessible to the public. It also promotes the use of the canals for leisure activities such as boating and fishing, and works to preserve the historic and natural environment of the waterways.