Dáil Éireann - Volume 372 - 27 May, 1987
Written Answers. - National Lottery.
Mr. Begley Mr. Begley
70. Mr. Begley asked the Minister for Finance the mechanism the Government has set up to allocate the net proceeds of the national lottery.
Minister for Finance (Mr. MacSharry) Ray MacSharry
Minister for Finance (Mr. MacSharry): Under the terms of section 8 of the National Lottery Act, 1986, all proceeds from sales of national lottery tickets, less sales agents commission and “instant” prizes payable by sales agents, are paid into the national lottery fund, under my control. Disbursements are made from the fund as needed to meet the national lottery's operating costs and management fee and larger prize liabilities as they fall due. Any surplus available after provision has been made for current and prospective liabilities is to be paid over to the Exchequer as non-tax revenue. Such payments are to be made at least once a year.
The moneys available at any time in the national lottery fund are deposited in an interest bearing account with the Central Bank. The interest payable by the Central Bank will form part of the national lottery fund's surplus for payment to the Exchequer in due course.
Following a Government decision on the broad allocation of the surplus for the year to different areas of activity, the Ministers responsible for those areas prepare detailed lists of projects which they recommend for funding from the lottery. When these spending programmes have been approved by the Minister for Finance the funds are paid out, as needed, from the national lottery subhead in the Finance Vote (Subhead O). The funds are transferred to suspense accounts operated by the spending Departments, who are responsible for their administration.
Dáil Éireann 372 Written Answers. National Lottery.