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Gambling Act 2003

Institutions - New Zealand Lottery Grants Board - Financial provisions relating to Board and distribution committees

290: Accounts of profits and audit

You could also call this:

"Tracking and checking the money made from New Zealand lotteries"

The Secretary has to keep track of all the money made from New Zealand lotteries and special lotteries conducted under section 245. You can think of special lotteries as one-off lotteries that are run for a particular purpose. The Secretary must also keep track of the money made from every special lottery.

The Secretary must get accounts ready and send them to the Auditor-General after each financial year. These accounts must show all the money made from New Zealand lotteries and special lotteries for that year.

The accounts must be done in a way that is standard for accounting, like they were for a company. The Auditor-General must check the accounts, using the powers they have under the Public Audit Act 2001. After the check, the Secretary must send a copy of the accounts to the Board.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM210213.

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Money and consumer rights > GamblingGovernment and voting > Government departments
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Part 3Institutions
New Zealand Lottery Grants Board: Financial provisions relating to Board and distribution committees

290Accounts of profits and audit

  1. The Secretary must keep full and true accounts with respect to—

  2. the profits of New Zealand lotteries generally; and
    1. the profits of every special purpose lottery conducted under section 245.

      1. As soon as practicable after the end of each financial year, the Secretary must cause to be prepared and submitted to the Auditor-General full and true accounts with respect to the profits of New Zealand lotteries and every special lottery for that year.

      2. The accounts must be presented in accordance with generally accepted accounting practice as if they were for an entity.

      3. The accounts must be audited by the Auditor-General, who, for that purpose, has and may exercise all his or her powers under the Public Audit Act 2001.

      4. After the audit, the Secretary must forward a copy of the accounts to the Board.

      Compare
      • 1977 No 84 s 116Y