National Lottery Act 1998

18 General duty and powers. U.K.

(1) NESTA shall be under a general duty to achieve their objects by the means for the time being specified in section 17(2) above.

(2) Subject to any directions under section 20 or 21 below, NESTA may do anything which appears to them to be necessary or expedient for the purpose of or in connection with achieving their objects, including in particular—

(a) giving financial assistance to persons (whether by way of grant, loan or otherwise);

(b) attaching conditions to any financial assistance given, including conditions requiring repayment, payment of interest or payment of other amounts;

(c) acquiring and disposing of, or exploiting, land and other property;

(d) taking charges or other forms of security over land and other property;

(e) entering into contracts of whatever nature;

(f) forming, or acquiring and disposing of interests in, bodies corporate;

(g) acting with other persons, whether by way of partnership, joint venture or otherwise;

(h) accepting gifts of assistance, money, land and other property; and

(i) investing money not immediately required for the purpose of achieving their objects.

(3) NESTA may not, without the approval of the Secretary of State—

(a) borrow money; or

(b) make or enter into arrangements which give rise to, or may give rise to, contingent liabilities of an unusual nature.

(4) Directions under section 21 below may include provision for the purpose of determining whether arrangements are such as give rise to, or may give rise to, contingent liabilities of an unusual nature.