S.I. No. 643/2019 - Prize Bonds (Amendment) Regulations 2019

1. In these Regulations “the Prize Bonds Regulations” means the Prize Bonds Regulations 1993 to 2015 (

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

and S.I.477 of 2015).

2. The Regulations shall come into operation on the 1

st

day of February 2020.

3. The Prize Bonds Regulations are hereby amended –

(

a

) by substituting the following for Regulation 13

“13. (1) Payment of the sum repayable or of any prize payable in respect of a bond shall be made by the Operator by such means as may be determined by the Operator with the agreement of the NTMA.

(2) A payment made by cheque shall be deemed to have been made on the date on which the cheque is issued by the Operator to the person or persons named on the register and the provisions of section 60 and sections 76 to 82 of the

Bills of Exchange Act, 1882

and the provisions of the

Cheques Act, 1959

(No. 19 of 1959) shall apply to a cheque issued by the Operator as if it were a cheque within the meaning of those Acts.

(3) The Operator may pay any prize in respect of a bond notwithstanding that the Operator has not received an application therefor.”

4. These Regulations may be cited as the Prize Bonds (Amendment) Regulations 2019.

5. The Prize Bonds Regulations and these Regulations may be cited together as the Prize Bonds Regulations 1993 to 2019.

GIVEN under the Seal of the National Treasury Management Agency,

17 December, 2019.

CONOR O’KELLY,

Chief Executive.

FRANK O’CONNOR,

Director.

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 amend the provisions relating to the method of payments of sums repayable and payments of prizes.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

27

th December,

2019.

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