Finance Act, 1989

Charging of expenses incurred in connection with management of prize bonds.

94.—(1) (a) Section 22 of the Finance (Miscellaneous Provisions) Act, 1956 , is hereby amended—

(i) in subsection (2), by the insertion of “and management” after “issue”, and

(ii) by the deletion of subsection (4),

and the said subsection (2), as so amended, is set out in the Table to this section.

(b) Section 65 of the Finance Act, 1958 , is hereby amended by the deletion of subsection (1).

(2) Subsection (1) shall come into operation on the 1st day of January, 1990.


(2) The principal of prize bonds, the prizes in respect of them and the expenses incurred with their issue and management shall be charged on the Central Fund or the growing produce thereof.