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National Lottery Act 1998

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This is the original version (as it was originally enacted).

21Financial directions etc

(1)NESTA shall comply with any directions given to them by the Secretary of State—

(a)in connection with the management, control or investment of their endowment or any other money held by them;

(b)in connection with the management, control, use or exploitation of any property in which they have an interest;

(c)in connection with the control of their administrative costs (including staff costs); or

(d)otherwise in connection with their financial affairs.

(2)If NESTA fail to comply with any direction given to them under this section, the Secretary of State may, after taking into account any representations made by NESTA, require NESTA to pay to him such amount as the Secretary of State thinks appropriate having regard to the extent or degree of that failure.

(3)The amount, or the aggregate of any amounts, which NESTA are required to pay under this section shall not exceed the amount of their endowment.

(4)Any amount which NESTA are required to pay under this section shall be recoverable by the Secretary of State as a debt due to him from NESTA.

(5)The Secretary of State shall pay into the National Lottery Distribution Fund any amount received by him under this section; and any amount so paid shall be treated for the purposes of the 1993 Act as so paid under section 21(2) of that Act.

(6)The Secretary of State shall consult NESTA before giving any directions to them under this section.

(7)In this section “endowment” has the meaning given by section 19(6) above.

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