The Council of Captains is formed by representatives of those companies and houses that own five or more ships and lease or own land on the Rock. In reality, the Council is the most powerful of the civic bodies, controlling about 80% of the wealth of Bral. The Council convenes once a month to discuss issues of trade, but most choose to send a proxy instead of attending.
The Council of Captains dates back to the original founder of The Rock of Bral, Prince Cozar. To keep pirate captains (who were always causing him trouble) happy, he formed the Council of Captains as the chief governing body of the city. To the surprise of many, it turned out to be more profitable to turn their ships to trade, which eventually turned the Pirate Trade into the Thieves Guildes run by the Underbarons of Bral that exist today.