Commentary on Sections and Schedules Part 2: Distribution of money under the general scheme Section 16: Distribution of dormant account money by Big Lottery Fund
73.This section gives the Big Lottery Fund (“the Fund”) power to distribute for social or environmental purposes dormant account money passed to it by a reclaim fund. The Fund is a body corporate established by section 36A of the National Lottery etc Act 1993. The Fund is the largest of the distributors of lottery resources.
74.Subsection (3) allows the Fund to distribute assets to recipient bodies in the form of grants or loans, or through other arrangements.
75.Subsection (5) enables the Fund to distribute dormant account money to create endowments, including permanent endowments.