Legislation that will give the newly created Big Lottery Fund the power to distribute the cash has yet to be passed.
The new National Lottery Bill is due to be debated by Parliament in November so the earliest the play programme will be open for applications is December.
The news will dismay many in the play sector who have been waiting for a large-scale funding programme after a pledge by the Government four years ago.
Philip Chamberlain, head of programme policy and development for the Big Lottery Fund, said: "We are keen to make sure no time is wasted and get the development work done now so that we are ready to go when we do have the powers."
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