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Lotteries Act, 1997 (Act No. 57 of 1997)

Part I : The National Lottery

Chapter 3 : Distribution of net proceeds of National Lottery

24. Banking account

 

 

1) Money in the fund shall, pending the application thereof in terms of this Chapter, be paid into an account to be known as "The National Lottery Distribution Trust Fund" at a financial institution.

 

2) The financial institution where the account contemplated in subsection (1) is kept, shall not in respect of any liability of the board, not being a liability arising out of or in connection with any such account, have or obtain recourse or any right, whether by set-off, counter-claim, charge or otherwise, against money standing to the credit of such account.