asked the Minister for Finance if he is aware of the non-transferability of prize bonds; and if he will examine the possibility of permitting transferability.
Ceisteanna—Questions. Oral Answers. - Prize Bonds.
19.
I am so aware.
In view of the ready facility by which prize bonds can be cashed at their full face value and the fact that new prize bonds may be purchased at any time there is not any necessity for making them transferable.
I did not catch part of the reply. In the case of a widow——
The Deputy must put a question.
Arising out of the Minister's reply, is the Minister aware of the difficulties that arise should a person die on the same day as he draws a prize? The widow, who may be in poor circumstances, may not benefit.
She may under the new regulations.
I think this is a slightly different point. One can cash a prize bond on four days notice and, if one wishes, purchase new prize bonds there and then. There is no practical difficulty in that sense.
Would the Minister not agree one has to withdraw and reinvest, if one wishes to make a present to someone else? This is absolutely unnecessary labour.
No. I do not think it is any great hindrance to anyone who wants to transfer prize bonds. By operating the scheme in this way we achieve a good deal of economy and efficiency.
The Minister does not. The Minister causes extra work.
In addition, if they were transferable, as envisaged, they would become saleable and this would not be desirable, prize bonds being the kind of security they are.