A licensed organization must open and maintain a separate lottery trust account, designated as a trust account by the branch of a recognized financial institution, in the Province of Ontario. The designated lottery trust account must be in Canadian funds. If the licensee (except for an HCA) conducts more than one type of lottery event, it may hold either one designated lottery trust account for all lottery proceeds or a separate designated lottery trust account for each type of lottery.
Licensees that are permitted to accept American currency must also maintain a trust account in American funds, as set out in “3.6.5. Lottery Trust Accounts for American Currency”.
If the licensee maintains only one lottery trust account, the licensee must keep a separate ledger for each type of lottery event and for each licence issued. The bookkeeping and accounting requirements for each type of lottery are covered in detail in the terms and conditions for each type of licence.
See also “3.6.1. Designated lottery trust accounts” for further information.