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Dormant Bank and Building Society Accounts Act 2008

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This is the original version (as it was originally enacted).

Distribution for England, Wales, Scotland and Northern Ireland

18Distribution 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.

19Distribution of money for meeting Welsh expenditure

(1)The Welsh Ministers may by order made by statutory instrument make provision restricting the purposes for which, or the kinds of person to which, a distribution of dormant account money for meeting Welsh expenditure may be made.

(2)Before making an order under this section the Welsh Ministers shall consult the Big Lottery Fund and such other persons (if any) as they think appropriate.

(3)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, the National Assembly for Wales.

20Distribution of money for meeting Scottish expenditure

(1)The Scottish Ministers may by order made by statutory instrument make provision restricting the purposes for which, or the kinds of person to which, a distribution of dormant account money for meeting Scottish expenditure may be made.

(2)Before making an order under this section the Scottish Ministers shall consult the Big Lottery Fund and such other persons (if any) as they think appropriate.

(3)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, the Scottish Parliament.

21Distribution of money for meeting Northern Ireland expenditure

(1)The Department of Finance and Personnel in Northern Ireland may by order make provision restricting the purposes for which, or the kinds of person to which, a distribution of dormant account money for meeting Northern Ireland expenditure may be made.

(2)Before making an order under this section the Department of Finance and Personnel shall consult the Big Lottery Fund and such other persons (if any) as the Department thinks appropriate.

(3)The power to make an order under this section is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).

(4)An order under this section may not be made unless a draft of it has been laid before, and approved by a resolution of, the Northern Ireland Assembly.

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