7 Vocational education trusts, etc.E+W+S
(1)The provisions of sections four to six of this Act shall not apply in relation to any trusts or agreement of which the purpose or one of the purposes is the advancement of vocational education or training for the coal mining industry.
(2)On the appointed day there shall be transferred to the Board—
(a)the interest of the Commission under a lease dated the seventeenth day of December, nineteen hundred and forty-five and made between B and A Collieries Limited and the Commission in respect of property situated at Bestwood Colliery in the county of Nottingham and known as the South Notts Occupational Training Centre;
(b)all property, rights, liabilities, obligations or functions vested in the Commission, or to which they are subject, immediately before the appointed day in respect of the said Centre or under any agreement made between the Commission and any education authority or any university or college in connection with the provision of facilities for vocational education or training for the coal mining industry.
(3)On the appointed day the trusts declared by a deed dated the second day of June nineteen hundred and thirty-nine and made by Alfred Edward Faulkner and Harold William Cole, declaring trusts in respect of a sum of seventy-five thousand pounds allocated from the miners’ welfare fund for the purposes of a national mining education scholarship scheme shall be determined; and all moneys and investments which immediately before that day are held by the Commission upon those trusts shall be transferred to the Social Welfare Organisation on that day, and any interest or dividends which, but for this Act, would be payable to the Commission on or after that day in respect of moneys or investments so held at any time before that day shall be paid to the said Organisation.
(4)On the appointed day, all property, rights, liabilities, obligations and functions vested in the Commission immediately before that day, or to which they are then entitled or subject, in respect of any such trusts or agreements as are mentioned in subsection (1) of this section (not being trusts or agreements referred to in subsection (2) or subsection (3) of this section) shall be transferred to the Social Welfare Organisation.