NON POOLED FUNDS Clause Samples
The Non Pooled Funds clause defines how certain funds are kept separate and not combined with other monies or accounts. In practice, this means that any payments, deposits, or assets designated as non-pooled are maintained in distinct accounts or records, ensuring they are not mixed with general or pooled funds. This separation is often used to protect specific assets, comply with regulatory requirements, or honor contractual obligations. The core function of this clause is to ensure transparency and safeguard the interests of parties by preventing the commingling of funds, thereby reducing the risk of misappropriation or confusion over ownership.
NON POOLED FUNDS. 9.1 Any Financial Contributions agreed to be held within a Non Pooled Fund will be notionally held in a fund established for the purpose of commissioning that Service as set out in the relevant Scheme Specification. For the avoidance of doubt, a Non Pooled Fund does not constitute a pooled fund for the purposes of Regulation 7 of the Partnership Regulations.
9.2 When introducing a Non Pooled Fund in respect of an Individual Scheme, the Partners shall agree:
9.2.1 which Partner if any shall host the Non-Pooled Fund;
9.2.2 how and when Financial Contributions shall be made to the Non-Pooled Fund.
9.3 The Host Partner will be responsible for establishing the financial and administrative support necessary to enable the effective and efficient management of the Non-Pooled Fund, meeting all required accounting and auditing obligations.
9.4 Both Partners shall ensure that Services commissioned using a Non Pooled Fund are commissioned solely in accordance with the relevant Scheme Specification.
9.5 Where there are Joint (Aligned) Commissioning arrangements, both Partners shall work in cooperation and shall endeavour to ensure that:
9.5.1 the NHS Functions funded from a Non-Pooled Fund are carried out within the CCG Financial Contribution to the Non- Pooled Fund for the relevant Service in each Financial Year; and
9.5.2 the Health Related Functions funded from a Non-Pooled Fund are carried out within the Council's Financial Contribution to the Non-Pooled Fund for the relevant Service in each Financial Year.
NON POOLED FUNDS. 9.1 Any Financial Contributions agreed to be held within a Non Pooled Fund will be notionally held in a fund established for the purpose agreed by the Partners in advance. For the avoidance of doubt, a Non Pooled Fund does not constitute a pooled fund for the purposes of Regulation 7 of the Partnership Regulations.
9.2 When introducing a Non Pooled Fund the Partners shall agree:
9.2.1 which Partner if any shall host the Non-Pooled Fund
9.2.2 how and when Financial Contributions shall be made to the Non-Pooled Fund.
9.3 The Host Partner will be responsible for establishing the financial and administrative support necessary to enable the effective and efficient management of the Non-Pooled Fund, meeting all required accounting and auditing obligations.
9.4 At the Commencement Date the Partners agree that the BCF Joint Risk Reserve will be held by the Council as a Non-Pooled Fund in accordance with the BCF Joint Risk Reserve Agreement.
9.5 Both Partners shall ensure that Services commissioned using a Non Pooled Fund are commissioned solely in accordance with the relevant Scheme Specification.
NON POOLED FUNDS. Each Partner shall specify the amount of Non Pooled Funds which it is contributing to this Agreement in each Financial Year.