S.I. No. 582/2004 - Prize Bonds (Amendment) Regulations, 2004

National Treasury Management Agency

STATUTORY INSTRUMENTS

S.I. No. 582 of 2004

PRIZE BONDS (AMENDMENT) REGULATIONS, 2004

S.I. No. 582 of 2004

Prize Bonds (Amendment) Regulations, 2004

The National Treasury Management Agency, in exercise of the powers conferred upon it by the National Treasury Management Agency Act, 1990 (No. 18 of 1990) and the National Treasury Management Agency Act, 1990 (Delegation of and Declaration as to Functions) Order, 1990 ( S.I. No. 277 of 1990 ), hereby makes the following Regulations:

1.         In these Regulations, “the Prize Bonds Regulations” means the Prize Bonds Regulations, 1993 and 1997 ( S.I. No. 337 of 1993 , as amended by S.I. No. 431 of 1997 ).

2.         The Prize Bonds Regulations are hereby amended—

(a)        in Regulation 2, by the substitution of the following definition for the definition of “bond”:

“ “bond” means a prize bond with a principal repayable value of—

(a)    in the case of a bond to which the serial number DL000001 or a subsequent serial number has been allocated pursuant to Regulation 5, €6.25; and

(b)    in the case of all other bonds, €6.35”;

(b)        in paragraph (1) of Regulation 4, by the substitution of “€6.25” for “ £5”; and

(c)        in Regulation 9, by the substitution of the following paragraph for paragraph (2):

“(2) Each bond included in a draw shall have a chance of being selected for a prize in proportion to the principal repayable in respect of the bond.”.

3.         (1)        These Regulations may be cited as the Prize Bonds (Amendment) Regulations, 2004.

(2)        The Prize Bond Regulations and these Regulations may be cited together as the Prize Bonds Regulations, 1993 to 2004.

(3)        These Regulations shall be deemed to have effect from the 1st day of January, 2002.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The purpose of these Regulations is to provide for the new purchase price of a prize bond and certain consequential matters.