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REGULATORY COMPLIANCE REPORT 14 SEPTMBER 2016

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Presentation on theme: "REGULATORY COMPLIANCE REPORT 14 SEPTMBER 2016"— Presentation transcript:

1 REGULATORY COMPLIANCE REPORT 14 SEPTMBER 2016
Adv. M Lindhorst Senior Manager: Lotteries Compliance & Enforcement

2 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

3 SOCIETY LOTTERY REQUIREMENTS

4 SOCIETY LOTTERY WHAT ARE THE REQUIREMENTS
Apply for registration with the Commission as the Society WHO IS ELIGIBLE TO REGISTER Not- for profit organization who are authorized to raise funds in terms of the fundraising Act(NPO Act)

5 SOCIETY LOTTERY WHAT ARE THE REQUIREMENTS
Apply for registration with the Commission (forms available): SOCIETY SCHEME

6 SOCIETY LOTTERY PROCEEDS AND PRIZES
Allowed to raise a maximum of 2MILLION Total value of prizes should not exceed R1MILLION FREQUENCY OF SOCIETY LOTTERIES 12 months and up to 6 in a year

7 SOCIETY LOTTERY REPORTING REQUIREMENTS
Submit lottery returns within 3 months of completion of the lottery

8 SOCIETY LOTTERY COST OF CONDUCTING THE LOTTERY
Registration fee for a society, R Registration fee for a scheme, R Other lottery fees determined by the value of prizes (R200 – R1000)

9 FOR MORE INFORMATION CONTACT
Mr Patrick Magoro on: / Or to

10 ---END--- I THANK YOU


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