Organisation
The Prize Bond Company is a joint venture between the founders An Post and FEXCO and is based in Killorglin, County Kerry. The company was created in 1989 with issued share capital between the founders of 50% each and will operate the scheme under its current (as of 2011) contract until the end of 2019. Employees of the Prize Bond Company are seconded from the respective partner, FEXCO is responsible for administration, whilst An Post is responsible for accounting and marketing in addition to conducting the draws.
The National Treasury Management Agency is responsible for the regulation of the company, since the Agency was establishment in 1990.
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“It is because the body is a machine that education is possible. Education is the formation of habits, a superinducing of an artificial organisation upon the natural organisation of the body.”
—Thomas Henry Huxley (1825–1895)