Commentary on Sections Section 4: Restrictions on the transferee following transfer
18.Subsection (1) ensures that EVOT must hold the property transferred to it, and any income deriving from it, separately from its other assets, as restricted funds.
19.Subsection (2) restricts EVOT to using that fund for the same purposes, and subject to the same condition, as are set out in section 2.
20.Subsections (3) to (5) permit the Fire Brigades Union (“FBU”) to nominate up to two individuals who will be entitled to attend any EVOT meetings at which the restricted funds are discussed. Those individuals must receive the same notice of the meeting as EVOT’s trustees and may contribute to any discussions at the meeting relating to the restricted funds. They may also access documents relating to the restricted funds on the same terms as any other EVOT trustee or committee member. However, they are not entitled to vote on any matter.
21.Subsection (6) makes provision for the FBU’s rights under this section to be transferred to another organisation representing professional firefighters in the event that the FBU ceases to exist.