Dormant Bank and Building Society Accounts Act 2008

17Apportionment of dormant account moneyU.K.

This section has no associated Explanatory Notes

(1)The apportionable income of the Big Lottery Fund in each financial year is to be apportioned as follows and distributed accordingly—

(a)a prescribed percentage for meeting expenditure in relation to England;

(b)a prescribed percentage for meeting expenditure in relation to Wales;

(c)a prescribed percentage for meeting expenditure in relation to Scotland;

(d)a prescribed percentage for meeting expenditure in relation to Northern Ireland.

The four percentages must add up to 100%.

(2)Expenditure within paragraphs (a), (b), (c) and (d) of subsection (1) is referred to in this Part as English expenditure, Welsh expenditure, Scottish expenditure and Northern Ireland expenditure respectively.

(3)For the purposes of this section, the apportionable income of the Big Lottery Fund for a given financial year is—

where—

A is the amount of dormant account money received by the Fund in the year;

B is the amount of the expenses defrayed in the year under subsections (1) and (2) of section 26;

C is the amount paid in the year under subsection (3)(b) of that section.

(4)In this section “prescribed” means prescribed by an order made by the [F1Minister for the Cabinet Office].

(5)Before making an order under this section the [F1Minister for the Cabinet Office] shall consult—

(a)the Welsh Ministers;

(b)the Scottish Ministers;

(c)the Department of Finance and Personnel in Northern Ireland;

(d)the Big Lottery Fund;

(e)such other persons (if any) as the [F1Minister for the Cabinet Office] thinks appropriate.

(6)An order under this section may not be made unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, each House of Parliament.

Textual Amendments

Commencement Information

I1S. 17 in force at 12.3.2009 by S.I. 2009/490, art. 2