Dormant Bank and Building Society Accounts Act 2008

Distribution for England, Wales, Scotland and Northern IrelandU.K.

18Distribution of money for meeting English expenditureU.K.

[F1(1)A distribution of [F2dormant assets] money for meeting English expenditure must be—

(a)made for meeting expenditure on or connected with the provision of services, facilities or opportunities to meet the needs of young people,

(b)made for meeting expenditure on or connected with—

(i)the development of individuals' ability to manage their finances, or

(ii)the improvement of access to personal financial services,or

(c)made to a social investment wholesaler.

(2)In this section—

• “social investment wholesaler” means a body that exists to assist or enable other bodies to give financial or other support to third sector organisations;

• “third sector organisation” means an organisation that exists wholly or mainly to provide benefits for society or the environment.]

[F318ADistribution of money for meeting English expenditureU.K.

(1)The Secretary of State may by order—

(a)make provision restricting the purposes for which, or the kinds of person to which, a distribution of dormant assets money for meeting English expenditure may be made, or

(b)provide that no specific restrictions are to have effect under paragraph (a) in relation to such a distribution.

(2)An order under this section may make transitional or saving provision in connection with provision made under subsection (1)(a) or (b).

(3)Before making an order under this section the Secretary of State must—

(a)carry out a public consultation about the purposes for which, or the kinds of person to which, the money apportioned under section 17 for meeting English expenditure should be distributed, and

(b)consult the Big Lottery Fund about a draft of the order.

(4)In carrying out the first public consultation under subsection (3)(a) the Secretary of State must invite views as to whether the permitted distributions should be, or include, any one or more of the following—

(a)distributions for the purpose of the provision of services, facilities or opportunities to meet the needs of young people;

(b)distributions for the purpose of the development of individuals’ ability to manage their finances or the improvement of access to personal financial services;

(c)distributions to social investment wholesalers (within the meaning of section 18);

(d)distributions to community wealth funds.

(5)For the purposes of subsection (4) “community wealth fund” means a fund which gives long term financial support (whether directly or indirectly) for the provision of local amenities or other social infrastructure.

(6)An order under this section may not be made unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, both Houses of Parliament.]

19Distribution of money for meeting Welsh expenditureU.K.

(1)The Welsh Ministers may by order made by statutory instrument make provision restricting the purposes for which, or the kinds of person to which, a distribution of [F4dormant assets] money for meeting Welsh expenditure may be made.

(2)Before making an order under this section the Welsh Ministers shall consult the Big Lottery Fund and such other persons (if any) as they think appropriate.

(3)An order under this section may not be made unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, the National Assembly for Wales.

20Distribution of money for meeting Scottish expenditureU.K.

(1)The Scottish Ministers may by order made by statutory instrument make provision restricting the purposes for which, or the kinds of person to which, a distribution of [F5dormant assets] money for meeting Scottish expenditure may be made.

(2)Before making an order under this section the Scottish Ministers shall consult the Big Lottery Fund and such other persons (if any) as they think appropriate.

(3)An order under this section may not be made unless a draft of the statutory instrument containing it has been laid before, and approved by a resolution of, the Scottish Parliament.

21Distribution of money for meeting Northern Ireland expenditureU.K.

(1)The Department of Finance and Personnel in Northern Ireland may by order make provision restricting the purposes for which, or the kinds of person to which, a distribution of [F6dormant assets] money for meeting Northern Ireland expenditure may be made.

(2)Before making an order under this section the Department of Finance and Personnel shall consult the Big Lottery Fund and such other persons (if any) as the Department thinks appropriate.

(3)The power to make an order under this section is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).

(4)An order under this section may not be made unless a draft of it has been laid before, and approved by a resolution of, the Northern Ireland Assembly.