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Horserace Betting and Olympic Lottery Act 2004

Section 28: Winding up

84.Section 28 enables the Secretary of State by order to provide for the winding up of the OLDF and for any money in or due to it to be paid to the NLDF. Subsection (3) gives the Secretary of State the power to specify whether money is to be allocated to the NLDF for distribution to the good causes in the proportions set out in the 1993 Act, or to be allocated to the sport good cause (in the proportions determined by her). The power to allocate solely to the sport good cause may be used in order to reimburse sporting distributors for their contributions to the costs of staging the Olympic Games.

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