The proposal on the reward payout time for lottery winners due to objective causes and force majeures
Who is eligible to participate in the lottery in Vietnam?
Pursuant to Article 6 of the Draft Decree on lottery business, which stipulates on subjects participating in lottery prizes:
- Entrants participating in lottery prizes must fully satisfy the following conditions:
+ Person who is full 18 years or older;
+ Vietnamese citizens living in the country;
+ Overseas Vietnamese lawfully entering Vietnam;
+ Foreigners lawfully entering Vietnam;
+ Have full legal capacity in accordance with Vietnamese law. In case of applied provisions of international treaties in which Vietnam is a member are different from the Vietnamese ones, the provisions of international treaties shall prevail.
- Every lottery buyer has the right to:
+ Receive the payout from the lottery enterprise when he/she wins in accordance with the lottery game rules. In case because of objective reasons (sickness, illness, ..) that he/she cannot directly participate in receiving the reward, the winners can mandate a legitimate representative to receive the reward.
+ Request the lottery enterprise to protect the information of his/her win and the prize
+ Winners who are foreigners, overseas Vietnamese, are allowed to buy foreign currencies at credit institutions permitted to engage in foreign exchange to transfer abroad according to the provisions foreign exchange management law.
+ Other lawful benefits as prescribed at the Rules of participation.
- Responsibilities of prize participants
+ Comply with the lottery game rules and other relevant provisions in this Decree.
+ When winning the prize, present the winning ticket(s) and other documents proving fulfillment of the conditions prescribed in clause 1 of this Article to receive the prizes and fulfill their tax obligation in accordance with law.
The proposal on the reward payout time for lottery winners due to objective causes and force majeure
Proposal on payout for lottery winners in Vietnam
Pursuant to Article 13 of the Draft Decree on lottery business, regulations on payout for lottery winners are as follows:
"Article 13. Payment of rewards
1. Lottery enterprises are responsible for paying full value of prizes to winners in accordance with the announced rules for participating in prizes.
2. Lottery winners can receive prizes in cash or by bank transfer.
3. Time limit for receiving prizes of the winning tickets is 60 days counted from date of defining result of winning prizes or expiry date of circulating lottery ticket (except for force majeure cases caused by natural disasters, epidemics, fires or under decisions of competent state agencies). If pass this time limit, the winning lottery tickets are no longer valid for receiving prizes;
4. The Ministry of Finance shall prescribe a specific time limit for reward payment applicable to each type of lottery product."
Thus, the time limit for paying prizes of a lottery business to a winner is 60 days counted from date of defining result of winning prizes or expiry date of circulating lottery ticket (except for force majeure cases caused by natural disasters, epidemics, fires or under decisions of competent state agencies)
The proposed time to issue lottery tickets in Vietnam
Pursuant to Article 14 of the Draft Decree on lottery business, the time for the issuance of lottery tickets is as follows:
"Article 14. Time to issue lottery tickets
1. Lottery tickets are issued daily or according to the prize-drawing schedule of the Ministry of Finance (except for force majeure cases caused by natural disasters, epidemics, fires or under decisions of competent state management agencies authority) and notices of the Lottery Ticket Issuer.
2. In case the lottery is not issued, the lottery business enterprise is responsible for making a public announcement at least 05 working days before the date of not issuing lottery tickets (except for force majeures that occur during the lottery due to natural disasters, epidemics, fires or according to decisions of competent state management agencies) by public posting at the head office, branches, representative offices, stores, information pages. electronic information of lottery businesses (if any), lottery agents or other mass media.
3. Lottery business enterprises must end the issuance of lottery tickets at least 15 minutes before the start of the lottery according to regulations of the Ministry of Finance applicable to each lottery product.
4. Lottery businesses must refund lottery tickets to customers who have bought lottery tickets but cannot participate in prizes because the prize opening schedule is canceled due to force majeure caused by natural disasters. disease, fire, or as determined by a competent authority competent state management. The Ministry of Finance shall specifically guide the refund of lottery tickets to customers specified in this Clause."
Thus, for the case that the lottery business must refund the money for buying lottery tickets to the winners who have bought lottery tickets but cannot participate in the prizes because the prize opening schedule is canceled due to force majeures (natural disasters, epidemics, fires or under decisions of competent state management agencies).
See details of the Draft Decree on lottery business: Click here.
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