Valid from 08/07/2005
(1)The Olympic Lottery Distributor shall comply with any requirement of the Secretary of State to—
(a)prepare a policy for the distribution of money under section 30, or
(b)review and revise the policy.
(2)A policy must, in particular—
(a)estimate the Distributor’s annual income,
(b)specify the sources of the income estimated,
(c)specify matters in respect of which the Distributor thinks that it will or may make grants or loans, and
(d)estimate, where possible, the amount of grants or loans that the Distributor will or may make.
(3)A requirement under subsection (1) may include provision (which may supplement or amplify subsection (2)) about—
(a)the form of the policy;
(b)the content of the policy.
(4)Before preparing or revising a policy the Distributor—
(a)shall submit a draft of the policy or revision to the Secretary of State, and
(b)shall consult—
(i)the National Lottery Commission,
(ii)the Mayor of London,
(iii)the National Olympic Committee, and
(iv)the British Paralympic Association.
(5)The Distributor shall as soon as is reasonably practicable send a copy of a policy or revision under this section to—
(a)the Secretary of State,
(b)the Mayor of London,
(c)the National Olympic Committee, and
(d)the British Paralympic Association.
(6)Where the Secretary of State receives a copy of a policy or revision under subsection (5) he shall lay it before Parliament.