25 Application of money by distributing bodies.U.K.
(1)Subject to the provisions of this Part, a body shall distribute any money paid to it under section 24 for meeting expenditure of the relevant description mentioned in section 22(3).
(2)A body shall not under subsection (1) distribute money for any purpose or in any manner if it does not have power to distribute money for that purpose or in that manner apart from subsection (1).
(3)A body may defray out of any money paid to it under section 24 any expenses incurred by the body in consequence of this Act.
(4)The Trustees of the National Heritage Memorial Fund may apply any money paid to them under section 24 for any purpose for which they have power to apply money under section 4 of the M1National Heritage Act 1980 [F1(other expenditure out of the fund)].
[F2(5)References in this section (however expressed) to the distribution of money for meeting expenditure are to be construed as including distribution of money for the purpose of establishing, or contributing to, endowments in connection with expenditure of the description concerned.]
Textual Amendments
F1Words in s. 25(4) substituted (4.3.1998) by 1997 c. 14, ss. 3, 4(2), Sch. Pt. I para. 4; S.I. 1997/292, art. 2.
F2S. 25(5) inserted (retrospectively) by National Lottery (Funding of Endowments) Act 2003 (c. 23), s. 1(3)(9)
Marginal Citations