S.I. No. 376/2024 - Prize Bonds (Amendment) Regulations 2024

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 26th July, 2024.

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 ) and pursuant to section 23 of the Finance (Miscellaneous Provisions) Act 1956 , hereby makes the following Regulations:

1. In these Regulations “the Prize Bonds Regulations” means the Prize Bonds Regulations 1993 to 2019 (S.I. No. 337 of 1993, as amended by S.I. No. 431 of 1997, S.I. No. 582 of 2004, S.I. No. 233 of 2005, S.I. No. 13 of 2008, S.I. No. 136 of 2014, S.I. No. 444 of 2014, S.I. No. 477 of 2015 and S.I. No. 643 of 2019).

2. These Regulations shall come into operation on the 31st day of July 2024.

3. The Prize Bonds Regulations are hereby amended –

(a) by inserting the following definition in Regulation 2:

““registered charity” means a charitable organisation that is registered in the register of charitable organisations (or is deemed to be so registered pursuant to the Charities Act, 2009 (as amended)) maintained by the Charities Regulatory Authority of Ireland.”

(b) by substituting the following for Regulation 3(1)(d):

“(d) a registered charity, an unincorporated body that does not carry on business, or a friendly society registered with the Registrar of Friendly Societies, using the specific application form for a registered charity, unincorporated body or friendly society.”

and

(c) by substituting the following for Regulation 12(3):

“(3) In the case of a bond held by a registered charity, unincorporated body or friendly society, every payment in respect thereof shall be made to the person(s) for the time being recognised as being entitled to apply for payment of the sum repayable or of any prize payable in respect of that bond on behalf of such registered charity, unincorporated body or friendly society.”

4. These Regulations may be cited as the Prize Bonds (Amendment) Regulations 2024.

5. The Prize Bonds Regulations and these Regulations may be cited together as the Prize Bonds Regulations 1993 to 2024.

GIVEN under the Seal of the National Treasury Management Agency,

25 July 2024.

DAVE MCEVOY,

Authorised Officer

SUSAN O’HALLORAN,

Authorised Officer

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 specify that the charitable organisations that are eligible to purchase and hold prize bonds are those that are registered (or deemed to be so registered pursuant to the Charities Act 2009 (as amended)) in the register of charitable organisations maintained by the Charities Regulatory Authority of Ireland, and to make consequential changes.