Section 27 InvestmentI1
(1)
Money in the Olympic Lottery Distribution Fund may be paid to the National Debt Commissioners and invested by them.
(2)
Proceeds of an investment under this section—
(a)
may be re-invested by the National Debt Commissioners, and
(b)
unless re-invested, shall be paid into the Olympic Lottery Distribution Fund.
(3)
In exercising a function under this section the National Debt Commissioners shall comply with any direction of the Treasury.
Annotations
Commencement
- I1
S. 27 in force at 8.7.2005 by S.I. 2005/1831, art. 2
Notes on Part 3
Modifications
- C1
Pt. 3: functions made partly exercisable concurrently (22.8.2007) by Transfer of Functions (Olympics and Paralympics) Order 2007 (S.I. 2007/2129), arts. 1(2), 3(1)(2)(c), (with art. 4)