C1Part 3National Lottery: Olympic Lotteries
Olympic Lottery Distributor
I130Distribution
1
The Olympic Lottery Distributor shall distribute money received, whether under section 26 or otherwise, by way of grant or loan (subject to Part 3 of Schedule 5).
2
The Distributor may make a grant or loan only if it considers it necessary or expedient for the purpose of or in connection with—
a
the provision of facilities which are necessary or expedient if London is to be the host city of the 2012 Olympic games, or
b
any other service or function which it is necessary or expedient to provide or undertake if London is to be the host city of the 2012 Olympic Games.
3
In exercising its functions under this section the Distributor shall have regard to—
a
the Olympic Charter, and
b
any agreement entered into by or on behalf of the International Olympic Committee in the course of or in connection with the election of London as the host city for the 2012 Olympic Games.
4
A grant or loan may, in particular, fund expenditure related to the provision of—
a
facilities outside London;
b
cultural and other events held in accordance with a provision of the Olympic Charter or in accordance with an agreement entered into by or on behalf of the International Olympic Committee.
5
A grant or loan may be subject to conditions which may, in particular, include conditions—
a
as to repayment (with or without interest);
b
providing for payments to be made only with the consent of a specified person.
6
The Secretary of StateF1... may by regulations provide that a specified class of expenditure is to be treated as—
a
satisfying the requirements of subsection (2), or
b
not satisfying those requirements.
Pt. 3: functions made partly exercisable concurrently (22.8.2007) by Transfer of Functions (Olympics and Paralympics) Order 2007 (S.I. 2007/2129), arts. 1(2), 3(1)(2)(c), (with art. 4)