The Lotteries Act prescribes the establishment of the NLDTF, which is to be managed by the National Lotteries Board. The Act further requires the Board to annually table a report in Parliament in respect of the fund.
Each week the licensed operator of the National Lottery, transfers funds generated for good causes to the NLDTF. This amount is calculated using a pre-determined formula based on ticket sales in terms of the Licence to Operate the National Lottery. Contributions to good causes, based on ticket sales, are currently 34% after VAT.
Funds in the NLDTF, together with the interest accumulated, will be used for the purposes as stipulated in section 26 of the Lotteries Act.
The financial year of the National Lotteries Board and the NLDTF runs from 01 April to 31 March. Funds generated for good causes in a particular financial year are available for distribution in the following year. READ MORE