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Horserace Betting and Olympic Lottery Act 2004

Status:

This is the original version (as it was originally enacted).

26Payments out of Fund

This section has no associated Explanatory Notes

(1)The Secretary of State may pay sums from the Olympic Lottery Distribution Fund to the Olympic Lottery Distributor.

(2)The Secretary of State may make regulations permitting payments from the Olympic Lottery Distribution Fund—

(a)in respect of expenses of the Secretary of State in connection with functions under this Part;

(b)in respect of expenses incurred or to be incurred by the National Debt Commissioners in making investments under section 27;

(c)into the National Lottery Distribution Fund;

(d)to the Greater London Authority;

(e)to the National Olympic Committee;

(f)into the Consolidated Fund for the purpose of meeting payments made or to be made under paragraph 10 of Schedule 2A to the National Lottery etc. Act 1993 (expenses of National Lottery Commission).

(3)Regulations by virtue of subsection (2)(a) and (b) shall permit payment only with the consent of the Treasury.

(4)Regulations by virtue of subsection (2)(c) shall in respect of each payment specify, or enable the Secretary of State to specify, whether it is to be—

(a)treated as having been paid into the National Lottery Distribution Fund by virtue of section 5(6) of the National Lottery etc. Act 1993 (c. 39) (general payments into fund), or

(b)allocated entirely for expenditure on or connected with sport and held in accordance with section 23(2) of that Act (distributing bodies for sports).

(5)Regulations by virtue of subsection (2)(c) may, in respect of a payment allocated in accordance with subsection (4)(b) provide, or enable the Secretary of State to provide, for section 23(2) of that Act to apply with specified modifications (which may, in particular, include modifications reducing a distributor’s share to nil).

(6)Money paid to the Greater London Authority by virtue of subsection (2)(d) may be used by the Authority for any purpose for which it is authorised to incur expenditure.

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