256 Unclaimed prizes

(1)

If any prize in a New Zealand lottery is not claimed within 12 months after the drawing of that lottery, or any prize in a New Zealand lottery that is an instant game is not claimed within 12 months after the date of closure of that instant game,—

(a)

the Lotteries Commission must retain the prize in the lottery prize fund account, if so provided in rules made under section 243 or provisions specified by the Minister under section 244(1)(a); and

(b)

the prize then forms, in accordance with those rules or provisions, a part of the prize pool for any New Zealand lottery conducted at a later date.

(2)

If rules made under section 243 or provisions specified by the Minister under section 244(1)(a) do not provide for the retention of an unclaimed prize in the lottery prize fund account, then, at the expiry of the 12-month period that applies under subsection (1), the Lotteries Commission must pay the amount of the prize from the lottery prize fund account into such account opened under section 286 as the Secretary directs. The amount of the prize must then be dealt with as if it were part of the undistributed profits of New Zealand lotteries.

(3)

For the purposes of this section, the date of closure of a New Zealand lottery that is an instant game is—

(a)

the date on which the last ticket is sold, or any tickets remaining unsold are cancelled by the Lotteries Commission; or

(b)

if provision is made by the Lotteries Commission for additional prizes in accordance with section 246, the date on which those additional prizes are determined.

Compare: 1977 No 84 s 105