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National Lottery Corporation Establishment Act

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National Lottery Corporation Establishment Act

Passed by the Senate and signed by the President on 25 May 2025

Article 1: Formation of the SimDemocracy Lottery Corporation

§1. The SimDemocracy Lottery Corporation shall be a for profit corporation under SimDemocracy law that at the time of outset shall be owned solely by the State of SimDemocracy.

§2. The aim of the SimDemocracy Lottery Corporation shall be to hold regular lotteries, provide entertainment and to promote the circulation of currency,

§3. The SimDemocracy Lottery Corporation shall be managed by an officer of the Department of Treasury.

§4. The SimDemocracy Lottery Corporation shall be considered to hold a perpetual Casino License and its managing officer shall be considered its operator.

§5. The Secretary of the Treasury may choose to sell shares of the SimDemocracy Lottery Corporation; provided that the majority of the ownership is held by the State of SimDemocracy.

§5.1. Sales shall be done via public auction to the highest bidder.
§5.2. Shares shall be sold in blocs such that no more than 5% of the shares shall be sold in one sale.