Finance (Miscellaneous Provisions) Act, 1956

Prize Bonds.

22.—(1) The Minister, for the purpose of any borrowing which he is authorised by or under any Act to effect, may create and issue non-interest-bearing securities which shall be subject to such conditions as to repayment, redemption or otherwise as he thinks fit and in relation to which chance may be used to select particular securities for prizes, and such securities shall be known and are referred to in this Part of this Act as prize bonds.

(2) The principal of prize bonds, the prizes in respect of them and the expenses incurred in connection with their issue shall be charged on the Central Fund or the growing produce thereof.

(3) Any moneys raised by prize bonds shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which such Fund is available.

(4) Any expenses incurred in connection with the management of prize bonds shall be defrayed out of moneys provided by the Oireachtas.

(5) Nothing contained in the Gaming and Lotteries Act, 1956 (No. 2 of 1956), shall apply in relation to prize bonds.