The Olympic Lottery Distribution Fund (Winding Up) Order 2015
| Jurisdiction | UK Non-devolved |
| Citation | SI 2015/85 |
| Year | 2015 |
S T A T U T O R Y I N S T R U M E N T S
2015No. 85
BETTING, GAMING AND LOTTERIES
The Olympic Lottery Distribution Fund (Winding Up) Order 2015
29thJanuary2015
The Secretary of State makes the following Order, in exercise of the powers conferred by section 28(1) to (3) of the Horserace Betting and Olympic Lottery Act 2004( 1).
In accordance with section 36(4) of that Act, the draft of this Order was laid before Parliament and approved by a resolution of each House of Parliament.
Citation and commencement
1. This Order may be cited as the Olympic Lottery Distribution Fund (Winding Up) Order 2015 and comes into force on the day after the day on which it is made.
Interpretation
2. In this Order-
"NLDF" means the National Lottery Distribution Fund( 2);
"OLDF" means the Olympic Lottery Distribution Fund( 3);
"winding-up date" means the first working day after the day this Order is made;
"working day" means a day which is not a Saturday, a Sunday or a bank holiday under the Banking and Financial Dealings Act 1971( 4) in any part of the United Kingdom.
Winding up of the OLDF
3. On the winding-up date-
(a) the Secretary of State must pay any money in the OLDF into the NLDF, and(b) immediately after any such payment is made, the OLDF is wound up.Money due to the OLDF
4. Any money due to the OLDF must, after the winding up of the OLDF, be paid into the NLDF.
Treatment...
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