asked the Minister for Finance if in view of the success of the Prize Bonds scheme, and in order to facilitate participation by persons who cannot afford £5 for a bond, he will extend the scheme by making available bonds priced at £1 each.
Ceisteanna—Questions. Oral Answers. - Prize Bonds Scheme.
11.
Having regard to the terms and conditions on which Prize Bonds have been issued, it would not be possible to extend the existing scheme to include £1 as well as £5 units.
The provision of £1 units would require a new series of Prize Bonds with a commensurate scale of prizes. The administrative cost of such a second series would not, it is considered, be justified by the likely volume of support it would receive.
I may add that, under the existing scheme, it is possible for two persons jointly, or for any number of persons to form themselves into an association, to purchase a single bond, thus enabling a person who can invest only a smaller sum than £5 to do so.