The Dormant Assets (Distribution of Money) (England) Order 2023
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Change 1
2 Distribution of money for meeting English expenditure
(1) The purposes for which, or the kinds of person to which, a distribution of dormant assets money for meeting English expenditure may be made, are restricted to— (a) distributions for the purpose of the provision of services, facilities or opportunities to meet the needs of young people; (b) distributions for the purpose of the development of individuals’ ability to manage their finances or the improvement of access to personal financial services; (c) distributions to social investment wholesalers; (d) distributions to community wealth funds. (2) In this article— (a) “social investment wholesaler” means a body that exists to assist or enable other bodies to give financial or other support to third sector organisations; (b) “third sector organisation” means an organisation that exists wholly or mainly to provide benefits for society or the environment.
2 Distribution of money for meeting English expenditure
(1) The purposes for which, or the kinds of person to which, a distribution of dormant assets money for meeting English expenditure may be made, are restricted to— (a) distributions for the purpose of the provision of services, facilities or opportunities to meet the needs of young people; (b) distributions for the purpose of the development of individuals’ ability to manage their finances or the improvement of access to personal financial services; (c) distributions to social investment wholesalers; (d) distributions to community wealth funds. (2) In this article— (a) “social investment wholesaler” means a body that exists to assist or enable other bodies to give financial or other support to third sector organisations; (b) “third sector organisation” means an organisation that exists wholly or mainly to provide benefits for society or the environment.
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