Dormant Bank and Building Society Accounts Act 2008

17 Apportionment of [F2 dormant assets] money U.K.

(1) The apportionable income of the Big Lottery Fund in each financial year is to be apportioned as follows and distributed accordingly—

(a) a prescribed percentage for meeting expenditure in relation to England;

(b) a prescribed percentage for meeting expenditure in relation to Wales;

(c) a prescribed percentage for meeting expenditure in relation to Scotland;

(d) a prescribed percentage for meeting expenditure in relation to Northern Ireland.

The four percentages must add up to 100%.

(2) Expenditure within paragraphs (a), (b), (c) and (d) of subsection (1) is referred to in this Part as English expenditure, Welsh expenditure, Scottish expenditure and Northern Ireland expenditure respectively.

(3) For the purposes of this section, the apportionable income of the Big Lottery Fund for a given financial year is—

where—

A is the amount of [F3 dormant assets] money received by the Fund in the year;

B is the amount of the expenses defrayed in the year under subsections (1) and (2) of section 26;

C is the amount paid in the year under subsection (3)(b) of that section.

(4) In this section “prescribed” means prescribed by an order made by the [F4 Secretary of State].

(5) Before making an order under this section the [F5 Secretary of State] shall consult—

(a) the Welsh Ministers;

(b) the Scottish Ministers;

(c) the Department of Finance and Personnel in Northern Ireland;

(d) the Big Lottery Fund;

(e) such other persons (if any) as the [F5 Secretary of State] thinks appropriate.

(6) 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, each House of Parliament.

Textual Amendments

F2 Words in s. 17 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

F3 Words in s. 17(3) 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

F4 Words in s. 17(4) substituted (9.11.2016) by The Transfer of Functions (Elections, Referendums, Third Sector and Information) Order 2016 (S.I. 2016/997), art. 1(2), Sch. 2 para. 20(2)(a) (with art. 12)

F5 Words in s. 17(5) substituted (9.11.2016) by The Transfer of Functions (Elections, Referendums, Third Sector and Information) Order 2016 (S.I. 2016/997), art. 1(2), Sch. 2 para. 20(2)(a) (with art. 12)

Commencement Information

I1 S. 17 in force at 12.3.2009 by S.I. 2009/490, art. 2