S.I. No. 419/2008 - European Communities (Financial Instruments Analogous to Prize Bonds) Regulations 2008

1. These Regulations may be cited as the European Communities (Financial Instruments Analogous to Prize Bonds) Regulations 2008.

2. The Gaming and Lotteries Acts 1956 to 2003 do not apply to financial instruments which are analogous to non-interest bearing securities created and issued by the Minister for Finance under Part V of the

Finance (Miscellaneous Provisions) Act 1956

(No. 47 of 1956), in relation to which chance may be used to select particular securities for prizes, issued by—

(

a

) another Member State,

(

b

) a regional authority in another Member State, or

(

c

) a local authority in another Member State.

GIVEN under my Official Seal,

27 October 2008

DERMOT AHERN,

Minister for Justice, Equality and Law Reform.

EXPLANATORY NOTE

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

These Regulations provide that the Gaming and Lotteries Acts 1956 to 2003 do not apply to financial instruments analogous to prize bonds which are on offer by another Member State.

S.I. No. 419 of 2008

EUROPEAN COMMUNITIES (FINANCIAL INSTRUMENTS ANALOGOUS TO PRIZE BONDS) REGULATIONS 2008

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

31

st October

, 2008.

I, DERMOT AHERN, T.D., Minister for Justice, Equality and Law Reform in exercise of the powers conferred on me by

section 3

of the

European Communities Act 1972

(No. 27 of 1972) (as amended by

section 2

of the

European Communities Act 2007

(No. 10 of 2007)) and for the purpose of giving full effect to Council Directive 88/361/EEC of 24 June 1988 for the implementation of Article 67 of the Treaty, hereby make the following regulations