Part 2Distribution of money under the general scheme

Distribution for England, Wales, Scotland and Northern Ireland

I118Distribution of money for meeting English expenditure

1

A distribution of dormant account money for meeting English expenditure must be—

a

made for meeting expenditure on or connected with the provision of services, facilities or opportunities to meet the needs of young people,

b

made for meeting expenditure on or connected with—

i

the development of individuals' ability to manage their finances, or

ii

the improvement of access to personal financial services,or

c

made to a social investment wholesaler.

2

In this section—

  • “social investment wholesaler” means a body that exists to assist or enable other bodies to give financial or other support to third sector organisations;

  • “third sector organisation” means an organisation that exists wholly or mainly to provide benefits for society or the environment.