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National Lottery (Funding of Endowments) Act 2003

Summary and Background

3.The key objective of this Act is to clarify that all Lottery distributors (set out in section 23 of the National Lottery etc. Act 1993) are able to distribute Lottery monies by funding endowments (including permanent endowments) – both for the purpose of establishing endowments as well as for contributing to those already in existence.

4.The National Lottery etc. Act 1993 gives the distributing bodies power to distribute lottery money for meeting expenditure of the types specified in section 22 of that Act. It does not define ‘expenditure’ or contain any express reference to the funding of endowments. This Act amends the 1993 Act to expressly permit the Lottery distributors to distribute Lottery monies by funding endowments if they so wish.

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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.


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