Northern Territory Consolidated Acts

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RACING AND BETTING ACT 1983 - SECT 109W

Business arrangements to be approved by Commission

    (1)     Except with the approval of the Commission, a betting exchange operator must not:

        (a)     enter into a partnership, in relation to the betting exchange business conducted under the operator's betting exchange licence, with a person whose name is not endorsed on the licence; or

        (b)     make an arrangement with a person under which the person derives or is entitled to derive a benefit or advantage from the operator's betting exchange business; or

        (c)     borrow money, except from an approved financial institution, for use in that business.

Maximum penalty:     40 penalty units.

    (2)     An offence against subsection (1) is a regulatory offence.



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