S.I. No. 179/1957:

PRIZE BONDS (FIRST DRAW FOR PRIZES) REGULATIONS, 1957.

PRIZE BONDS (FIRST DRAW FOR PRIZES) REGULATIONS, 1957.

WHEREAS it is enacted by section 23 of the Finance (Miscellaneous Provisions) Act, 1956 (No. 47 of 1956), that the Minister for Finance may make regulations governing prize bonds :

AND WHEREAS the prize bonds issued are numbered serially from 000001 to 999999 followed by A.000001 to A.087633 :

AND WHEREAS the first draw for prizes in respect of prize bonds is to take place in September, 1957 :

NOW, I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by section 23 of the Finance (Miscellaneous Provisions) Act, 1956 (No. 47 of 1956), hereby make the following regulations in relation to the said first draw :

1. These Regulations may be cited as the Prize Bonds (First Draw for Prizes) Regulations, 1957.

2. In these Regulations--

" the Bank " means the Governor and Company of the Bank of Ireland, acting on behalf of the Minister ;

" bond " means a prize bond ;

" the draw " means the draw for prizes in respect of bonds to be held in September, 1957 ;

" the Minister " means the Minister for Finance ;

" the Prospectus " means the prospectus with respect to bonds issued by the Department of Finance under the title " Prospectus for Prize Bonds " and dated the 11th March, 1957.

3. (1) The draw shall be held at the premises of the Bank, College Green, Dublin.

(2) The draw shall be conducted by such officer of the Bank as the Bank nominates for that purpose.

(3) A representative of the Minister shall be present at the draw and the representative shall be such officer of the Minister as the Minister nominates for that purpose.

4. (1) The following provisions shall have effect in relation to the conduct of the draw :

(a) there shall be an apparatus consisting of six containers capable of being rotated together, the containers being designated respectively from left to right facing the apparatus " index letter and hundreds of thousands ", " tens of thousands ", " thousands ", " hundreds ", " tens " and " units " ;

(b) there shall be counters bearing numbers concealed from view when the counters are closed ;

(c) in the container designated " index letter and hundreds of thousands " there shall be contained eleven closed counters bearing respectively the numbers 0, 1, 2, 3, 4, 5, 6, 7, 8, 9 and A.0 and in each of the remaining containers there shall be contained ten closed counters bearing respectively the numbers 0, 1, 2, 3, 4, 5, 6, 7, 8 and 9 ;

(d) the prizes shall be drawn for in order of amount, commencing with the largest prizes ;

(e) in relation to each prize, the procedure shall be as follows :

(i) mixing of the counters shall be effected by rotation of the apparatus,

(ii) after mixing has been effected, the apparatus shall be brought to a stop,

(iii) when the apparatus has been brought to a stop, one counter shall be drawn at random out of each container and the counters shall then be opened to display the number on each,

(iv) the bond the number of which consists of the numbers drawn as aforesaid from the six containers, read from left to right facing the containers, shall, subject to the next clause of this subparagraph and Regulation 5, stand selected for the prize,

(v) the number consisting of the numbers drawn as aforesaid shall be disregarded (and the procedure specified in this paragraph shall accordingly be repeated) if either that number is not the number of any of the bonds held on the 1st day of September, 1957, or it has already occurred during the course of the draw,

(vi) finally, the counters shall be closed and replaced in the appropriate containers ;

(f) when numbers have been drawn for all the prizes available, additional numbers shall, for the purpose of enabling substitutions under Regulation 5 to be effected, be drawn in the manner specified in the foregoing subparagraph ;

(g) on completion of the list of the numbers drawn (that is to say, numbers of bonds selected for prizes and additional numbers), that list shall be signed by the person conducting the draw and by the representative at the draw of the Minister.

(2) Where, in the case of a bond held by an individual person, that person dies and notification of his death is received by the Bank before the 1st day of September, 1957, the reference to the bonds held on that day contained in clause (v) of subparagraph (e) of paragraph (1) of this Regulation shall be construed as not including a reference to that bond, irrespective of whether repayment in respect of it is or is not made before that day.

5. (1) If, at any time after the draw, it is ascertained that, as respects any bond which, in accordance with the draw together with any previous application of this Regulation, stands selected for a prize, either--

(a) the holder has died, or in the case of a joint holding, both holders have died, before the 1st day of September, 1957, or

(b) the bond is held by a person or persons not entitled to hold bonds,

the following provisions shall have effect :

(i) the number which, disregarding any excluded number, was drawn next after the drawing of the number of the bond shall be substituted in respect of that prize, and

(ii) as respects the numbers which, disregarding any excluded number, were drawn subsequently, each such number (in this subparagraph referred to as the number to be substituted) shall be substituted in respect of such (if any) prize as is the prize in the case of the number which, disregarding any excluded number, was drawn immediately before the drawing of the number to be substituted.

(2) In paragraph (1) of this Regulation, " excluded number " means a number for which another number has been substituted pursuant to this Regulation.

GIVEN under my Official Seal, this 16th day of August, 1957.

SÉAMAS Ó RIAIN,

Minister for Finance.

Explanatory Note.

Section 22 of the Finance (Miscellaneous Provisions) Act, 1956 , authorised the creation and issue by the Minister for Finance of Prize Bonds. These Regulations make provision for the conduct of the first draw for prizes.