(1)  In these regulations –

Act means the Racing Regulation Act 2004 ;

approval means a race field information publication approval;

approval holder means a wagering operator who holds an approval;

approval period means the duration of the approval referred to in regulation 6(a) ;

assessable turnover means the aggregate of wagers taken on Tasmanian racing, reduced by allowable bets back to Tasmanian licensed or registered wagering operators and any other wagering operator who holds a Tasmanian race field information publication approval;

bet back means a wager that is made by the approval holder on the backer's side of the wagering transaction in relation to Tasmanian races or contingencies related to Tasmanian races;

betting exchange has the same meaning as in the Gaming Control Act 1993 ;

gross revenue , in relation to an approval holder, means –

(a) for a bookmaker, the total amount of all bets accepted by the approval holder less the sum of all winnings paid in respect of those bets, after any applicable GST has been deducted; or

(b) for a totalizator, the total amount of all wagers accepted by the approval holder in each totalizator conducted by the approval holder less the sum of all winnings paid in respect of those wagers, after any applicable GST has been deducted; or

(c) for a betting exchange, the total commission that the approval holder deducts, in accordance with State or Territory requirements, in respect of its wagering operations, after any applicable GST has been deducted;

GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth;

key employee , in relation to an applicant for or holder of an approval, means a person (whether or not appointed under a contract of service) who is –

(a) employed in a managerial or supervisory capacity in relation to the conduct of wagering operations by the applicant or holder; or

(b) authorised to make decisions, involving the exercise of his or her discretion, that regulate the operations of the applicant or holder in relation to the conduct of wagering operations; or

(c) concerned or engaged, in any manner, in the conduct of wagering operations by the applicant or holder;

race field information publication fee means a fee referred to in regulation 4(2) and imposed by the Director under that regulation on a wagering operator who has obtained approval to publish Tasmanian race field information;

relevant financial interest means –

(a) any share in the capital of the business; or

(b) any entitlement to receive any income derived from the business, whether the entitlement arises at law or in equity or otherwise;

relevant position means the position of director, manager or other executive position or secretary, however those positions are designated;

relevant power means any power, whether exercisable by voting or otherwise and whether exercisable alone or in association with others –

(a) to participate in any directorial, managerial or executive decision; or

(b) to elect or appoint any person to any relevant position;

wagering operations means operations relating to –

(a) betting conducted by a bookmaker, totalizator or any other wagering operator on a fixed-odds basis; or

(b) betting conducted by means of a totalizator; or

(c) betting conducted by means of a betting exchange.

(2)  For the purposes of these regulations, a person is a " business associate " of an applicant for, or the holder of, an approval if the person –

(a) holds or will hold any relevant financial interest, or is or will be entitled to exercise any relevant power (whether in his or her own right or on behalf of any other person), in the business of the applicant or holder, and by virtue of that interest or power is or will be able (in the opinion of the Director) to exercise a significant influence over or in respect of the conduct of that business; or

(b) holds or will hold any relevant position, whether in his or her own right or on behalf of any other person, in the business of the applicant or holder.