asked the Minister for Finance if he is aware that where prize bonds have been given to minors as presents, prizes won by those bonds are not paid; and if he will make a statement on the matter in view of the fact that people are generally not aware of this situation; and that there is a general practice now widespread of giving infants prize bonds as christening presents.
Ceisteanna—Questions. Oral Answers. - Prize Bond Gifts.
31.
Persons under 16 years of age are not eligible to hold prize bonds. This is clearly stated in the prospectus and in the application form which all purchasers of bonds are required to sign personally, and should therefore be well known to them.
I may add that 51,374 prizes have been drawn to date, amounting to over £10 million in prize money, and only two drawers of prizes of £100 each have been disqualified because of this age disability.
(Cavan): Is there any good reason why people under 16 years of age should not be allowed to hold prize bonds? Does the Minister not think, if they were allowed to hold them, that this would lead to considerably more investment in prize bonds?
There is an argument for that.
Will the Minister consider that argument?
I have had it under consideration for some time.