![\"\"](\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/12\/3677Fidelity-Bank.jpg\" "\\"Fidelity")
<\/a>The Fast Track High Court (Commercial Division) has halted the \u2018Reach for Gold\u2019 promotion run by Fidelity Bank Limited.<\/p>\nThe court, presided over by Mrs Justice Barbara Ackah-Yensu, suspended the promotion until the issues of illegality has been determined after a full trial.<\/p>\n
The court however did not award any cost against the bank.<\/p>\n
Fidelity Bank Limited and Global Media Alliance jointly filed a motion on notice restraining the National Lottery Authority (NLA) from interfering with the ongoing \u201cReach for Gold\u201d Promotion.<\/p>\n
Fidelity was seeking a declaration that the NLA had no control or supervisory powers over the bank as far as the promotion was concerned and that the Authority\u2018s letter to the bank dated September 26, this year halting the promotions was not only unlawful but mischief.<\/p>\n
It was further seeking a declaration that the NLA\u2019s letter ordering the bank to stop the \u201cReach for Gold\u201d promotion was tantamount to interference in the bank\u2019s lawful business.<\/p>\n
The bank in its statement of claim contended it had engaged the services of Global Media Alliance; a media organization to promote events, to organize a promotion to appropriate and reward it\u2019s attracted new customers.<\/p>\n
According to the bank in September this year, it commenced the promotions dubbed \u201cReach for Gold\u201d, which was also intended to attract cash deposit by either encouraging existing customers to make more cash deposits or attracting new customers to open accounts and make cash deposits into their accounts.<\/p>\n
With the promotion, the bank said customers at all material times had absolute control over their deposits and could add to or take from it as they please.<\/p>\n
It contended it applied for permission from the Gaming Commission through a letter on August 26, this year and the Commission obliged.<\/p>\n
At the commencement of the promotion, the bank said any customer or account holder, who deposited and maintained a minimum amount of GHc300 cedis or multiples in the said accounts for a month was given a coupon.<\/p>\n
\u201cCustomers were notified by text messaging of the number of coupons they had earned depending on the cash deposits made.<\/p>\n
At the end of the sixth month a general draw on all the coupons will be made and the overall winner will be entitled to a one kilogram of gold.<\/p>\n
The bank said the NLA through its lawyers wrote to them to stop the promotion, saying it was illegal under the National Lottery Act, 2006 (Act 722).<\/p>\n
According to the bank, the NLA claimed that no person other than the Authority could conduct any form of lottery.<\/p>\n
It contended that the promotion did not qualify as a lottery as defined under Act 722.<\/p>\n
Additionally, the bank said the mandate of the NLA was clearly stated under Act 722 was to conduct lottery and not regulate promotion that did not constitute a lottery.<\/p>\n
In a statement of defence, the NLA said the bank\u2019s promotion was a lottery in disguise, which breached the National Lotto Act of 2006, Act 722.<\/p>\n
According to the NLA, the bank was licenced to deliver banking services and ancillary products and not to engage in the business of running lottery for promotional purposes.<\/p>\n
In an affidavit in opposition, the NLA noted that the bank\u2019s promotion was \u201cin deed and in fact Lottery\u201d which was prohibited by Section 4 of the national Lotto Act, 2006 (Act 722).<\/p>\n
According to the NLA, the Gaming Commission had no mandate to grant permits or license to the applicants to operate lotteries or game of chances.<\/p>\n
The NLA said it was performing its statutory mandate to prohibit illegal lotteries by notifying the bank to put an end to an \u201cillegality.\u201d<\/p>\n
According to the NLA the promotion contained all the elements of a lottery.<\/p>\n
Source: GNA<\/p>\n
Comments<\/h4><\/p>\n","protected":false},"excerpt":{"rendered":"
You Are Here: Home \u00bb General News , Second Lead \u00bb Court halts Fidelity Bank \u201cReach for Gold\u201d promotion Page last updated at Tuesday, December 27, 2011 17:17 PM \/\/ The Fast Track High Court (Commercial Division) has halted the \u2018Reach for Gold\u2019 promotion run by Fidelity Bank Limited. The court, presided over by Mrs Justice Barbara Ackah-Yensu, suspended the promotion until the issues of illegality has been determined after a full trial. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-22289","post","type-post","status-publish","format-standard"],"yoast_head":"\n
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