S.I. No. 92/1971:

PRIZE BONDS (DRAWS FOR PRIZES) REGULATIONS, 1971

PRIZE BONDS (DRAWS FOR PRIZES) REGULATIONS, 1971

I, SEOIRSE Ó COLLA, 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:

1. (1) These Regulations may be cited as the Prize Bonds (Draws for Prizes) Regulations, 1971.

(2) The Prize Bonds (Draws for Prizes) Regulations, 1958 ( S.I. No. 60 of 1958 ), and these Regulations may be cited together as the Prize Bonds (Draws for Prizes) Regulations, 1958 and 1971.

2. In these Regulations "the Principal Regulations" means the Prize Bonds (Draws for Prizes) Regulations, 1958 ( S.I. No. 60 of 1958 ).

3. Regulation 4 of the Principal Regulations is hereby amended by the substitution of the following paragraph for paragraph (2):

"(2) Where, in the case of a bond held by an individual person, that person dies on or after the 15th day of March, 1971, and before the first day of the period of twenty–four months ending immediately before the commencement of the month in which the draw is held and notification of his death is received by the Bank before such commencement, the reference to the bonds held on the first day of the month in which the draw is held contained in paragraph (1) (e) (v) 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 the latter day."

4. Regulation 5 (1) of the Principal Regulations is hereby amended by the substitution for subparagraph (a) of the following paragraph:

"(a) the holder has died, or in the case of a joint holding, both holders have died, on or after the 15th day of March, 1971, and before the first day of the period of twenty–four months ending immediately before the commencement of the month in which the draw was held, or."

GIVEN under my Official Seal, this 12th day of March, 1971.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations prescribe that the Prize Bonds of a deceased sole holder will, unless repaid, be eligible for inclusion in the draws for prizes for a period of 24 months following the month in which the death took place.