(1)  A registered bookmaker must, as and when directed –

(a) give Tasracing a return of all of the money that, as at the date of the return, is owed by the bookmaker to bettors and has remained unclaimed for a period of more than one month; and

(b) at the same time, pay that money to Tasracing.

Penalty:  In the case of –

(a) a first offence, a fine not exceeding 20 penalty units; and

(b) a subsequent offence, a fine not exceeding 40 penalty units.

(2)  Tasracing –

(a) may, at any time in the 6-month period after the date of the return, pay any winnings that it is satisfied the holder of a betting ticket to which the return relates is entitled to; and

(b) when the 6-month period expires, is to retain (or, if the Minister so directs, pay into the Public Account) a sum equal to the total of the unclaimed money received from the bookmaker in conjunction with the return, less any amount paid under paragraph (a) .

(3)  After the 6-month period referred to in subsection (2) expires, the right of a person holding a betting ticket to which the return relates (or a person claiming through that person) to recover any winnings to which, but for this subsection, the betting ticket would entitle the person, is barred, and no action lies for the recovery of those winnings.