OpenLegislation

Article 3 Sum held for the Millennium Commission to be held for the New Opportunities Fund

Original text. Later amendments are not shown.

(1)

As from 21st August 2001, the sum calculated according to paragraph (2) that (apart from this Order) would be held in the Distribution Fund for distribution by the Millennium Commission shall be held instead for distribution by the New Opportunities Fund.

(2)

The sum mentioned in paragraph (1) is the sum calculated by deducting £2,286,500,000 from the aggregate of all the money that has been paid into the Distribution Fund and held for distribution by the Millennium Commission before 21st August 2001; but this article does not apply where that calculation produces a sum that is less than zero.