sec.131Disposal of unclaimed prizes that are property

### sec.131 Disposal of unclaimed prizes that are property This section applies to a prize in an approved lottery if— it is property other than money or lottery tickets; and it is not paid or collected within 3 months after the closure of the lottery. The lottery operator— may dispose of the property by public auction or tender or in some other way approved by the chief executive; and may pay for the disposal from the proceeds of sale; and must keep and deal with the remainder of the proceeds as if the remainder were the prize in the lottery. On disposal of a prize under subsection (2) , entitlement to the prize is converted to an entitlement to the remainder kept. s 131 amd 2007 No. 22 s 3 sch 1 (sec.131-ssec.1) This section applies to a prize in an approved lottery if— it is property other than money or lottery tickets; and it is not paid or collected within 3 months after the closure of the lottery. (sec.131-ssec.2) The lottery operator— may dispose of the property by public auction or tender or in some other way approved by the chief executive; and may pay for the disposal from the proceeds of sale; and must keep and deal with the remainder of the proceeds as if the remainder were the prize in the lottery. (sec.131-ssec.3) On disposal of a prize under subsection (2) , entitlement to the prize is converted to an entitlement to the remainder kept. - (a) it is property other than money or lottery tickets; and - (b) it is not paid or collected within 3 months after the closure of the lottery. - (a) may dispose of the property by public auction or tender or in some other way approved by the chief executive; and - (b) may pay for the disposal from the proceeds of sale; and - (c) must keep and deal with the remainder of the proceeds as if the remainder were the prize in the lottery.