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Miners’ Welfare Act 1952

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Miners’ Welfare Act 1952, Section 6 is up to date with all changes known to be in force on or before 22 October 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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6 Colliery welfare property to be accounted for by Board.E+W+S

(1)If in the case of any colliery welfare trusts or colliery welfare agreement the property transferred to the Board under section four of this Act includes property to which this section applies, subsection (2) of section five of this Act shall have effect in relation to those trusts or that agreement as if for references in paragraph (a) to the value immediately before the appointed day of the liabilities transferred to the Board in respect of the trusts or agreement there were substituted references to the amount (if any) by which that value exceeds the value immediately before that day of the property to which this section applies which is so transferred.

(2)If in any such case as aforesaid the value immediately before the appointed day of the property to which this section applies which is transferred to the Board as aforesaid exceeds the value immediately before that day of the liabilities transferred to the Board in respect of the trusts or agreement, a sum equal to the difference shall be deemed to be property in respect of which a scheme may be made under the said section five, and shall be paid or applied by the Board in accordance with the provisions of such a scheme.

(3)The property to which this section applies in the case of any colliery welfare trusts or colliery welfare agreement is property of any of the following descriptions, that is to say—

(a)interests in land held by way of an investment;

(b)stocks of goods intended to be sold, consumed or expended in the carrying on of any undertaking established in pursuance of the trusts or agreement, but not including fixtures, fittings or furniture;

(c)a right to be indemnified in respect of any liability transferred to the Board in respect of the trusts or agreement.

(4)Any question arising under this section whether property is property to which this section applies, or as to the value of any property or liability, shall, in default of agreement between the Board and the Social Welfare Organisation, be determined by arbitration.

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