Part 2F3DISTRIBUTION OF DORMANT ASSETS MONEY

Annotations:
Amendments (Textual)

The distribution system: general

I117Apportionment of F4dormant assets money

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—

A-B-Cmath

where—

A is the amount of F5dormant assets 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 F1Secretary of State.

5

Before making an order under this section the F2Secretary of State 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 F2Secretary of State 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.