Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Olympic Lotteries (Payments out of Fund) Regulations 2006 and shall come into force on 31st March 2006.

(2) In these Regulations —

“the Fund” means the Olympic Lottery Distribution Fund established under section 23 of the 2004 Act;

“the 1993 Act” means the National Lottery etc. Act 1993(2); and

“the 2004 Act” means the Horserace Betting and Olympic Lottery Act 2004.

Payments in respect of expenses of the Secretary of State and National Debt Commissioners

2.—(1) Subject to paragraph (2), at such times and for such amounts as the Secretary of State determines to be appropriate, there shall be payments from the Fund in respect of —

(a)expenses of the Secretary of State in connection with functions under Part 3 of the 2004 Act, and

(b)expenses incurred or to be incurred by the National Debt Commissioners in making investments under section 27 of the 2004 Act.

(2) Payments under paragraph (1) may only be made with the consent of the Treasury.

Payments in respect of expenses of the National Lottery Commission

3.—(1) At such times and for such amounts as the Secretary of State determines to be appropriate, there shall be payments from the Fund into the Consolidated Fund for the purpose of meeting payments made or to be made under paragraph 10 of Schedule 2A to the 1993 Act(3).

(2) In determining, under paragraph (1), what amounts are appropriate for the purpose of meeting payments made or to be made under paragraph 10 of Schedule 2A to the 1993 Act, the Secretary of State shall take into account sums paid or to be paid into the Consolidated Fund under sections 7(6) and 31(2)(aa) of the 1993 Act(4).

Explanatory Note

(This note is not part of the Regulations)

These Regulations provide for payments out of the Olympic Lottery Distribution Fund. The Regulations come into force on 31st March 2006.

Regulation 1 defines various terms used in the Regulations.

Regulation 2(1) provides for payments from the Olympic Lottery Distribution Fund in respect of:

• expenses of the Secretary of State in connection with functions under Part 3 of the Horserace Betting and Olympic Lottery Act 2004; and

• expenses incurred or to be incurred by the National Debt Commissioner in making investments under section 27 of that Act.

Payments under Regulation 2(1) shall be at such times and for such amounts as the Secretary of State determines to be appropriate. Regulation 2(2) provides that payments under Regulation 2(1) may only be made with the consent of the Treasury.

Regulation 3 provides for payments from the Olympic Lottery Distribution Fund 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. Paragraph 10 of Schedule 2A provides for the payment of sums necessary to defray any expenditure of the National Lottery Commission.

Payments under Regulation 3 shall be at such times and for such amounts as the Secretary of State determines to be appropriate. In determining what amounts are appropriate under Regulation 3, the Secretary of State must take into account sums paid or to be paid into the Consolidated Fund under sections 7(6) and 31(2)(aa) of the National Lottery etc. Act 1993. Sections 7(6) provides for all fees received by the National Lottery Commission to be paid into the Consolidated Fund. Section 31(2)(aa) provides for payments out of the National Lottery Distribution Fund into the Consolidated Fund in respect of the expenses of the National Lottery Commission.