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A Prize Bond is a lottery bond, a non-interest bearing security issued on behalf of the Irish Minister for Finance by the Prize Bond Company DAC. Funds raised are used to offset government borrowing and are refundable to the bond owner on demand. Interest is returned to bond owners via prizes which are distributed by random selection of bonds.
The National Lottery (Irish: An Crannchur Náisiúnta) is the state-licensed lottery of Ireland.Established in 1986 to raise funds for good causes, it began operations on 23 March 1987 when it sold its first scratchcards.
McCarthy, now acting as Fexco chairman, is also chairman of the Irish Prisons Board. [10] Former Tánaiste Dick Spring was appointed as an executive vice-chairman of Fexco in 2002. [11] As of 2009, services offered by Fexco included prize bonds, dynamic currency conversion and related customer services. [12]
Despite its significance in the history of Irish independence, ground rent for the GPO continued to be paid to English and American landlords until the 1980s. [14] The broadcasting studios of 2RN, which later became Radio Éireann, were located at the GPO from 1928 until 1974. [15] Draws for Prize Bonds are held weekly, on Fridays, in the building.
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In his first budget in 1955, he introduced a scheme whereby a tax exemption was provided for exported goods. He also established the Prize Bonds programme as a means of reducing the national debt. This debt was worrying in the mid-1950s. Two major bond issues were placed during Sweetman's tenure, for £20 million and £12 million.
a Irish Prize finished first in 1999, but he was relegated to fourth place following a stewards' inquiry. b The 2010 winner Sormiou was later exported to Hong Kong and renamed Mr Bond . Earlier winners
Additional funding from the Irish government was highlighted, with Lenihan recognising that it would be difficult to raise funds on the stock market. [54] On 10 October 2009, the Irish Times reported that Bank of Ireland and AIB could need to raise a combined €9bn as a result of write-downs associated with the transfer of assets to NAMA. [55]