Betting, Gaming and Lotteries (Unclaimed Winnings) Bill 2010

Public bill · Private Member · Introduced

The Betting, Gaming and Lotteries (Unclaimed Winnings) Bill 2010 would require bookmakers and other betting, gaming and lottery providers to notify winners, keep records and transfer winnings left unclaimed for 12 months to a new Unclaimed Winnings Fund. Winners could still reclaim the money for up to six years after it became payable, provided they can prove their entitlement; after that, their right to it would end. The National Treasury Management Agency would manage the fund, while a new board would recommend using surplus money to support disadvantaged people, educationally disadvantaged people and people with disabilities. Inspectors, annual compliance certificates and criminal penalties would help enforce the scheme.

Formal long title

Bill entitled an Act to provide for the transfer of moneys that constitute unclaimed winnings to a fund to be known as the Unclaimed Winnings Fund, to confer functions on the National Treasury Management Agency in relation to the control and management of the fund, to provide for the disbursement of moneys (including the repayment of moneys to persons entitled to them) from the fund, to set a time period after which winning parties are no longer entitled to unclaimed winnings, to establish a body to be known as the Unclaimed Winnings Board and to define its functions, to provide for a mandatory scheme of record-keeping for service providers in the fields of betting, gaming and lotteries, to provide for the appointment of inspectors, and to provide for related matters

Last updated 12 April 2018