Pow
Boar
pron
lotte
perm
the Comi
sione Coun
Prospe
of lott
be pul lished.
Special
accounts in respect of
78
No. 9 OF 1950.
(2) The accounts of the Board shall be audited at least once in every year by an auditor appointed in that behalf by the Financial Secretary and a copy of such accounts so audited shall be submitted by the Board to the Financial Secretary who shall cause the same to be published in the Gazette.
11. (1) The Board shall prepare within three months of the date upon which the winners of prizes each lottery. in a lottery were determined, a completed account in respect of such lottery showing the total amount raised thereby, the amount of the prizes paid out in respect thereof, the costs, charges and expenses and deductions made by the Board in respect thereof, the purposes to which the balance of the total amount so raised has been applied, and the names of the persons, organisations and institutions to whom such balance or any part thereof has been paid.
Application of funds raised by lotteries.
(2) Every such account shall be audited by the auditor appointed under sub-section (2) of section 10 of this Ordinance and a copy of such account, so audited, shall be submitted forthwith by the Board to the Financial Secretary who shall cause the same to be published in the Gazette.
12. (1) All sums received by the Board in respect of any lottery shall, after deduction therefrom of all costs charges and expenses incurred by the Board in the promotion and administration of such lottery and of the amount of the prizes given in respect thereof, be applied by the Board solely for the purposes or to or among the persons organisations and institutions specified or named in the Order granting permission to the Board to promote the same.
(2) The Board shall be entitled to deduct as part of the expenses incurred by it in the promotion or administration of any lottery such amount in respect of the general administrative or other expenses incurred by the Board in carrying out its duties or functions under this Ordinance, including any sum required to be paid into the Reserve Fund established under section 13 of this Ordinance, as, subject to the approval of the Financial Secretary, it may think reasonable.
(3) The Board shall submit to the Financial Secretary a full and true account of all costs, charges and expenses that it proposes to deduct in accordance with the provisions of this section and the Financial Secretary may, in his discretion, disallow, increase or reduce any item as he may think reasonable.
96
SOCIAL AND WELFARE SERVICES LOTTERIES BOARD.
97
79
13. (1) The Board may establish a Reserve Fund, Reserve of such amount as the Financial Secretary may fund. approve, for the purpose of meeting any present, future or contingent liabilities incurred or likely to be incurred by the Board in carrying out its duties under this Ordinance or in promoting or administering any lottery which it is or may be permitted to promote under this Ordinance, and may pay into such Fund from time to time, subject to the approval of the Financial Secretary, out of any sums received by it in respect of any lottery such sums as may be necessary for the maintenance of such Fund at the approved amount.
(2) Upon the dissolution of the Board the balance of such Reserve Fund, after payment of all debts, liabilities and other obligations incurred by the Board, shall be applied for such public, philanthropic, charitable, religious or educational organisation, institution, body or service, or in carrying out such public, philanthropic, charitable, religious or educa- tional scheme or project, or such work which is beneficial to the public, or such improvement of the social condition or such advancement of the welfare of the public or any class thereof, as the High Commis- sioner in Council may direct.
make recom-
14. It shall be the duty of the Board from time to Duty of time to make recommendations to the High Commis- Board to sioner in Council as to what organisations, institu- mendations tions, bodies, services, schemes, projects or works as to the should be aided by funds raised by lotteries promoted which funds under this Ordinance, but the High Commissioner in raised by Council shall not be bound by any such recommenda- lotteries.
tions.
purposes for
should be
and adminis-
15. (1) No lottery shall be promoted or adminis- Lotteries to tered by the Board otherwise than in accordance with be promoted the provisions of this Ordinance and of any rules tered in made thereunder relating thereto, and of the terms with
accordance
and rules
and conditions of the Order made under section 7 of Ordinance this Ordinance permitting such lottery, or otherwise and the than in accordance with the prospectus relating to order
permitting such lottery published by the Board under the pro- the same visions of section 8 of this Ordinance.
and with the prospectus.
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