Section 16 Distribution of dormant assets money by Big Lottery FundF6I1

Subject to the provisions of this Part, the Big Lottery Fund shall distribute F1dormant assets money for meeting expenditure that has a social or environmental purpose.

In this Part “F2dormant assets money” means money transferred to the Big Lottery Fund by a reclaim fund in pursuance of F3any of the objects mentioned in section 5(1)(c) F4to (cb), and also includes the proceeds of such money invested under—

The Fund may make grants or loans, or make or enter into other arrangements, for the purpose of complying with subsection (1).

A grant or loan may be subject to conditions (which may, in particular, include conditions as to repayment with interest).

For the purposes of this Part, distributing money for meeting expenditure of a particular description includes distributing money for the purpose of establishing, or contributing to, endowments (including permanent endowments) in connection with expenditure of that description.

Schedule 3 makes further provision about the functions of the Fund in relation to F5dormant assets money.