A major lottery licence is required by associations wishing to conduct a fundraiser lottery in which the total prize value exceeds $5,000.
If the total prize value is $5,000 or less no licence is required. However the lottery must be conducted in accordance with the minor lottery conditions.
All money received from the conduct of a major lottery must be placed into a bank account operated by the association. Accurate accounts of all income and expenditure must also be kept separate, and accounts must be audited by a qualified auditor.
Within one month of the expiry of the licence period, the licensee must furnish the Minister with a financial statement.
