The Olympic Lottery Distribution Fund (Winding Up) Order 2015

Statutory Instruments

2015 No. 85

Betting, Gaming And Lotteries

The Olympic Lottery Distribution Fund (Winding Up) Order 2015

Made

29th January 2015

Coming into force in accordance with article 1

The Secretary of State makes the following Order, in exercise of the powers conferred by section 28(1) to (3) of the Horserace Betting and Olympic Lottery Act 2004(1).

In accordance with section 36(4) of that Act, the draft of this Order was laid before Parliament and approved by a resolution of each House of Parliament.

Citation and commencement

1.  This Order may be cited as the Olympic Lottery Distribution Fund (Winding Up) Order 2015 and comes into force on the day after the day on which it is made.

Interpretation

2.  In this Order—

“NLDF” means the National Lottery Distribution Fund(2);

“OLDF” means the Olympic Lottery Distribution Fund(3);

“winding-up date” means the first working day after the day this Order is made;

“working day” means a day which is not a Saturday, a Sunday or a bank holiday under the Banking and Financial Dealings Act 1971(4) in any part of the United Kingdom.

Winding up of the OLDF

3.  On the winding-up date—

(a) the Secretary of State must pay any money in the OLDF into the NLDF, and

(b) immediately after any such payment is made, the OLDF is wound up.

Money due to the OLDF

4.  Any money due to the OLDF must, after the winding up of the OLDF, be paid into the NLDF.

Treatment of payments

5.  Any payment made under articles 3(a) or 4 is to be treated as having been paid into the NLDF by virtue of section 5(6) of the National Lottery etc. Act 1993(5) (general payments into fund).

Helen Grant

Minister for Sport and Tourism

Department for Culture, Media and Sport

29th January 2015

EXPLANATORY NOTE

(This note is not part of the Order)

This Order winds up the Olympic Lottery Distribution Fund (“OLDF”).

Article 3 provides that on the first working day after the day on which the Order is made, the Secretary of State is to pay any money in the OLDF into the National Lottery Distribution Fund (“NLDF”) and that the OLDF is wound up immediately afterwards.

Article 4 provides that any money due to the OLDF must, after the winding up of the OLDF, be paid into the NLDF.

Article 5 specifies that any payment under articles 3(a) or 4 is to be treated as having been paid into the NLDF by virtue of section 5(6) of the National Lottery etc. Act 1993 (c. 39). This results in the payment being apportioned within the NLDF as provided in section 22 of that Act.

An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen. An Explanatory Memorandum has been prepared and is available alongside this instrument on the website www.legislation.gov.uk.

(1)

2004 c. 25; section 28(1) and (3) has been amended, but not in a way relevant to this Order. Section 28(3)(a) is to be amended by paragraph 16 of Schedule 1 to the National Lottery Act 2006 (c. 23), but an order under section 6 of that Act bringing that amendment into force has not yet been made.

(2)

The National Lottery Distribution Fund was established by section 21(1) of the National Lottery etc. Act 1993 (c. 39).

(3)

The Olympic Lottery Distribution Fund was established by section 23 of the Horserace Betting and Olympic Lottery Act 2004 (c. 25). It is a fund maintained under the control and management of the Secretary of State, and it came into existence on 8th April 2005.

(4)

1971 c. 80.

(5)

1993 c. 39; section 5(6) was amended by section 34(1) and (3) of the Horserace Betting and Olympic Lottery Act 2004 (c. 25). Section 5 is to be substituted by paragraph 4 of Schedule 1 to the National Lottery Act 2006 (c. 23), but an order under section 6 of that Act bringing that substitution into force has not yet been made.