Textual Amendments
F1Pt. 2 heading substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 11; S.I. 2022/582, reg. 2
(1)Subject to the provisions of this Part, the Big Lottery Fund shall distribute [F3dormant assets] money for meeting expenditure that has a social or environmental purpose.
(2)In this Part “[F4dormant assets money]” means money transferred to the Big Lottery Fund by a reclaim fund in pursuance of [F5any of the objects] mentioned in section 5(1)(c) [F6to (cb)], and also includes the proceeds of such money invested under—
(a)paragraph 20(1) of Schedule 4A to the National Lottery etc. Act 1993 (c. 39), or
(b)arrangements made under section 25(1).
(3)The Fund may make grants or loans, or make or enter into other arrangements, for the purpose of complying with subsection (1).
(4)A grant or loan may be subject to conditions (which may, in particular, include conditions as to repayment with interest).
(5)For the purposes of this Part, distributing money for meeting expenditure of a particular description includes distributing money for the purpose of establishing, or contributing to, endowments (including permanent endowments) in connection with expenditure of that description.
(6)Schedule 3 makes further provision about the functions of the Fund in relation to [F7dormant assets] money.
Textual Amendments
F2Words in s. 16 heading substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 12(1)(a); S.I. 2022/582, reg. 2
F3Words in s. 16(1) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 12(1)(b); S.I. 2022/582, reg. 2
F4Words in s. 16(2) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 12(2); S.I. 2022/582, reg. 2
F5Words in s. 16(2) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 13(a); S.I. 2022/582, reg. 2
F6Words in s. 16(2) inserted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 13(b); S.I. 2022/582, reg. 2
F7Words in s. 16(6) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 12(1)(b); S.I. 2022/582, reg. 2
Commencement Information
I1S. 16 in force at 12.3.2009 by S.I. 2009/490, art. 2