http://www.legislation.gov.uk/ukpga/2008/31/section/21/notesBuilding societiesLegislationLottery fundingBankingBuilding maintenanceExplanatory Notes to Dormant Bank and Building Society Accounts Act 2008Her Majesty’s TreasuryKing's Printer of Acts of Parliament2014-06-12
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2008/31" id="c00001" Class="UnitedKingdomPublicGeneralAct" Year="2008" Number="0031">Dormant Bank and Building Society Accounts Act 2008</Citation>
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26th November 2008
Commentary on Sections and Schedules<CitationSubRef id="c00119" URI="http://www.legislation.gov.uk/id/ukpga/2008/31/part/2" CitationRef="c00001" SectionRef="part-2">Part 2</CitationSubRef>: Distribution of money under the general scheme
<CitationSubRef id="c00129" URI="http://www.legislation.gov.uk/id/ukpga/2008/31/section/18" CitationRef="c00001" SectionRef="section-18">Sections 18</CitationSubRef>- <CitationSubRef id="c00130" URI="http://www.legislation.gov.uk/id/ukpga/2008/31/section/21" CitationRef="c00001" SectionRef="section-21">21</CitationSubRef>: Distribution of money for meeting English, Welsh, Scottish and Northern Ireland expenditure
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Section 16 sets out the overall purposes for which dormant account money may be distributed (i.e. social and environmental purposes). Section 18 sets out two particular purposes, and one particular kind of recipient, for which the proportion of dormant account assets allocated for expenditure in England will be used.
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The particular purposes, and kinds of recipient, for dormant account expenditure apportioned to the devolved administrations of Wales, Scotland and Northern Ireland have not yet been determined and will not be set out on the face of the Act. Instead, sections 19, 20 and 21 give Welsh Ministers, Scottish Ministers and the Northern Ireland Department of Finance and Personnel respectively the power to restrict the particular purposes for which, and the kind of person to whom, dormant account money apportioned to their country will be distributed.
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It is envisaged that the particular purposes and recipients set out in section 18 for England and set out in orders for the other three countries will be specified further in directions given to the Fund by the Secretary of State or by the devolved administrations under section 22.