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

Regulations Relating to Allocation of Money in National Lottery Distribution Trust Fund

6. Requirements for the allocation of funds for miscellaneous purposes (sec 31(2))

 

 

A juristic person applying for a grant in terms of section 31 of the Act, in respect of any matter approved by the Minister as contemplated in section 26(3)(e) of the Act, shall-

a) state that its income and property are not distributable to its members, employees or managers, except as reasonable compensation for services rendered;
b) indicate that changes in the composition of its membership or management will not substantially affect its continued existence;
c) establish that it aims to improve the quality of life of people and communities who are disadvantaged by poverty or social exclusion;
d) indicate that the projects undertaken or to be undertaken shall be for the public good and that there is a clear demand therefor;
e) indicate that the projects undertaken or to be undertaken shall promote social inclusion and encourage community involvement;
f) indicate that the project or intended project produces or will produce significant improvements or new developments which would not otherwise have taken place;
g) establish that project or intended project is financially viable and capable of being implemented;
h) establish that it has adequate measures and procedures for the proper application of sound, economically efficient and effective management;
i) establish that proper accounting records are kept;
j) furnish a written report pertaining to its financial state of affairs and activities;
k) indicate the procedure for changing its constitution in respect of its aims.