The Olympic Lottery Distribution Fund (Winding Up) Order 2015

• Citation: S.I. 2015/85
• Sections: 5

Section 1 Citation and commencement

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.

Section 2 Interpretation

In this Order—

“NLDF” means the National Lottery Distribution Fund ;

“OLDF” means the Olympic Lottery Distribution Fund ;

“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 in any part of the United Kingdom.

Section 3 Winding up of the OLDF

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.

Section 4 Money due to the OLDF

Any money due to the OLDF must, after the winding up of the OLDF, be paid into the NLDF.

Section 5 Treatment of payments

Any payment made under articles 3(a) or 4 is to be treated as having been paid into the NLDF by virtue of section 5(6) of the National Lottery etc. Act 1993 (general payments into fund).