Society Lottery Regulations and Compliance Report
Discover the requirements and procedures for society lotteries, including eligibility criteria, registration process, proceeds, prizes, reporting obligations, and associated costs as per the regulatory compliance report of September 14, 2016. Contact Mr. Patrick Magoro for more information.
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Presentation Transcript
REGULATORY COMPLIANCE REPORT 14 SEPTMBER 2016 Adv. M Lindhorst Senior Manager: Lotteries Compliance & Enforcement
ROLE OF THE COMMISSION REGULATE LOTTERIES NATIONAL LOTTERY(conducted by ITHUBA) Lotteries Incidental to exempt entertainment(Ticket R10,Proceeds R10 000) Private Lotteries(Ticket R10,Proceeds R10 000) Society Lotteries
SOCIETY LOTTERY o WHAT ARE THE REQUIREMENTS Apply for registration with the Commission as the Society o WHO IS ELIGIBLE TO REGISTER Not- for profit organization who are authorized to raise funds in terms of the fundraising Act(NPO Act)
SOCIETY LOTTERY o WHAT ARE THE REQUIREMENTS Apply for registration with the Commission (forms available): SOCIETY SCHEME
SOCIETY LOTTERY o PROCEEDS AND PRIZES Allowed to raise a maximum of 2MILLION Total value of prizes should not exceed R1MILLION o FREQUENCY OF SOCIETY LOTTERIES o 12 months and up to 6 in a year
SOCIETY LOTTERY o REPORTING REQUIREMENTS Submit lottery returns within 3 months of completion of the lottery
SOCIETY LOTTERY o COST OF CONDUCTING THE LOTTERY o Registration fee for a society, R 500.00. o Registration fee for a scheme, R 100.00. o Other lottery fees determined by the value of prizes (R200 R1000)
FOR MORE INFORMATION CONTACT Mr Patrick Magoro on: 076 789 2429 / 012 432 1313 Or Email to Compenforce@nlcsa.org.za
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