New South Wales Consolidated Acts

PUBLIC LOTTERIES ACT 1996 - SECT 26

26 Application of subscriptions to prize fund

(1) Out of the subscriptions received by a licensee in respect of a public lottery conducted by the licensee, the licensee must pay into the prize fund for the lottery an amount that, when added to any amount already applied by the licensee or the licensee's agents to the payment of prizes won in the lottery, is not less than the requisite percentage of the subscriptions for the lottery.

(2) The requisite percentage is the percentage specified in the conditions of the licence.

(3) In this section, a reference to subscriptions includes, if the conditions of the licence so require, a reference to commission payable in respect of those subscriptions.