Northern Territory Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

RACING AND BETTING ACT 1983 - SECT 72

Security may be required

    (1)     The Commission shall not grant under this Part a licence or a permit to a person to carry on the business of a bookmaker unless the person has given security to the Commission, in the approved form, in an amount or to a value determined by the Commission, being no more than the prescribed amount, for payment of all bets accepted by the person in his capacity of a bookmaker that are winning bets or for payment of moneys payable by that person to the Commission.

    (2)     The Commission may, from time to time, re-determine the amount or the value of the security required under subsection (1) of a bookmaker and where it does so, it shall not, if the re-determined amount or value is greater than the previous amount or value, renew the licence or permit of the bookmaker until he has increased the security given to the Commission to the re-determined amount or value.

    (3)     Where the Commission is satisfied that a bookmaker has refused or omitted to pay an amount payable for bookmaker tax, winning bets or due to the Commission, it may pay that amount from any money received by it under and in accordance with a security given by the bookmaker and held by it under this section.

    (4)     Where the Commission makes a payment under subsection (3), it shall, under section 80, cancel the licence or the permit, as the case may be, of the bookmaker or suspend the licence or the permit until such time as the bookmaker repays to the Commission the amount that it has paid and for such further time, if any, as the Commission thinks fit.

    (5)     Moneys payable by a bookmaker for bookmaker tax or other amounts due to the Commission shall be paid in full from any security given by a bookmaker and held under this section by the Commission before payment is made of a winning bet.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback