In these regulations –

Act means the Racing Regulation Act 2004 ;

commission means the monthly commission that a registered bookmaker is required to pay to the Director under section 83 of the Act;

guarantor , in relation to a registration bond, means the person who, on applying for registration as a bookmaker or for a telephone betting endorsement, gave the Director the registration bond;

registration bond means a bond of indemnity or other form of security given under section 59 or 74 of the Act;

security amount means the amount of the cash, money on fixed deposit, bond, guarantee, government security or other kind of security comprising a registration bond;

surety means a person who goes surety for a guarantor in respect of a registration bond.