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Part 11 E+W+SLotteries

InterpretationE+W+S

254Proceeds and profitsE+W+S

(1)In this Act a reference to the proceeds of a lottery is a reference to the aggregate of amounts paid in respect of the purchase of lottery tickets.

(2)In this Act a reference to the profits of a lottery is a reference to—

(a)the proceeds of the lottery, minus

(b)amounts deducted by the promoters of the lottery in respect of—

(i)the provision of prizes,

(ii)sums to be made available for allocation in another lottery in accordance with a rollover, or

(iii)other costs reasonably incurred in organising the lottery.

Commencement Information

I1S. 254 in force at 1.1.2007 by S.I. 2006/3272, art. 2(1), Sch. 1 (with arts. 7-11, 7-12, Sch. 4)