F2[F143B Functions of the New Opportunities Fund.U.K.
(1)The New Opportunities Fund—
(a)may make grants out of any money they receive to fund or assist in the funding of projects [F3(including grants for establishing or contributing to endowments in connection with projects)], or
(b)may make or enter into arrangements,
which are designed to give effect to such initiatives concerned or connected with health, education or the environment as may from time to time be specified in an order made by the Secretary of State.
(2)In making a grant under this section, the New Opportunities Fund may impose such conditions as they think fit, including conditions requiring the amount of a grant to be repaid forthwith on breach of any condition.
(3)The New Opportunities Fund may do anything that they consider desirable for enabling them to determine—
(a)the projects in respect of which grants under this section are to be made; or
(b)the arrangements which are to be made or entered into under this section.
(4)The New Opportunities Fund may for the purpose of enabling them to exercise their functions acquire and dispose of land.
[F4(5)The function of the Secretary of State under subsection (1) to specify initiatives may, in relation to initiatives applying in Scotland only, be exercised separately.]]
Textual Amendments
F1Crossheading and ss. 43A-43D inserted (2.7.1998) by 1998 c. 22, ss. 7(2), 27(4)
F2Ss. 43A-43D inserted (2.7.1998) by 1998 c. 22, ss. 7(2), 27(4)
F3Words in s. 43B(1)(a) inserted (retrospectively) by National Lottery (Funding of Endowments) Act 2003 (c. 23), s. 1(7)(9)
F4S. 43B(5) added (30.6.1999) by S.I. 1999/1756, arts. 1(1), 2, Sch. para. 15(9) (with art. 8); S.I. 1998/3178, art. 3
Modifications etc. (not altering text)
C1S. 43B(1) (as read with s. 43CC(2)(b)): transfer of certain functions (1.7.1999) by S.I. 1999/1750, arts. 1(1), 2, Sch. 1 (with art. 7); S.I. 1998/3178, art. 3
S. 43B(1): transfer of certain functions (1.7.1999) by S.I. 1999/672, art. 2, Sch. 1