New South Wales Consolidated Acts

PUBLIC LOTTERIES ACT 1996 - SECT 34

34 Sport and Recreation Fund--soccer football pool duty

(1) There is established in the Special Deposits Account an account to be called the Sport and Recreation Fund.

(2) There is to be paid, without further appropriation than this Act, into the Sport and Recreation Fund out of the Consolidated Fund in each financial year an amount equal to two-thirds of the amount of the duty and additional duty paid to the Treasurer under this Part in respect of soccer football pools.

(3) If any money is paid to the Treasurer under section 33 (3) pursuant to an arrangement with a participating area under that section, that money is, for the purposes of subsection (2), taken to be paid to the Treasurer as duty or additional duty.

(4) The money paid to the Sport and Recreation Fund under subsection (2) and the Totalizator Act 1997 must be used to support and develop, by way of grant or loan, those sporting and recreational facilities and services within the State that are approved by the Minister administering the Sporting Bodies' Loans Guarantee Act 1977 .

(5) Any interest payable on a loan made under subsection (4), and any repayment of the principal of such a loan, is to be paid into the Sport and Recreation Fund.