Northern Territory Consolidated Acts

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Key positions and key employee licence

    (1)     The Commission may, by notice to a betting exchange operator, designate a position or function in the operator's betting exchange business to be a key position or key function.

    (2)     A person may apply to the Commission in the approved form accompanied by the prescribed fee for a key employee licence.

    (3)     The Commission may, in its discretion:

        (a)     grant a key employee licence subject to the conditions the Commission thinks fit and endorses on the licence; or

        (b)     refuse to grant the licence.

    (4)     Subsection (5) applies if, in relation to a bet made through a betting exchange operator, a key employee employed or engaged by the operator:

        (a)     fails to enter in the audit log kept by the operator the particulars of the bet prescribed for section 109R(1); or

        (b)     fails to enter those particulars immediately after the bet is made or received and before making any other record or note of the bet.

    (5)     Whether or not the key employee is prosecuted for an offence constituted by the employee's act or omission, the Commission may suspend the employee's key employee licence for the period it thinks fit.

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