Victorian Current Acts

GAMBLING REGULATION ACT 2003 - SECT 3.4A.18A

    (1)     This section applies if a venue operator (the  transferor ), in accordance with the gaming machine entitlement allocation and transfer rules, transfers a gaming machine entitlement that takes effect on or after 16 August 2022 to another venue operator (the "transferee") during—

        (a)     the period beginning on the day on which the entitlement was allocated and ending on the day 18 months after the gaming machine entitlement declared day that applies to the entitlement; or

        (b)     the period beginning on the tenth anniversary of the gaming machine entitlement declared day that applies to the entitlement and ending on the day 18 months after that.

    (2)     Unless the transferor is granted an exemption under section 3.4A.19 or 3.4A.19A, the transferor must pay to the Treasurer the amount calculated as follows—

where—

    SP     is the sale price, being the price paid to the transferor in respect of the transfer of the gaming machine entitlement;

    AP     is the allocation price, which—

        (a)     is the amount paid by the transferor for the allocation of the transferred gaming machine entitlement as determined under section 3.4A.5(9)(b) ; and

        (b)     does not include any amount determined, or to be determined, under section 3.4A.5(9)(ba)(ii) if the period referred to in that provision has not yet commenced.

S. 3.4A.18A(3) amended by No. 20/2018 s. 69.

    (3)     Unless the transferee is granted an exemption under section 3.4A.19 or 3.4A.19A, the transferee must pay to the Treasurer the amount calculated as follows—

HAP – SP

where—

    HAP     is the hypothetical allocation price referred to in subsection (4) and determined in accordance with subsection (5);

    SP     is the sale price, being the amount referred to by that name in subsection (2).

    (4)     The hypothetical allocation price is the amount that would have been payable by the transferee for the allocation of the transferred gaming machine entitlement if it had been allocated—

        (a)     to the transferee rather than the transferor; and

        (b)     to enable the transferee to conduct gaming at the approved venue specified by the transferee under section 3.4.13A in respect of the entitlement.

    (5)     The hypothetical allocation price is to be determined by applying the provisions of the gaming machine entitlement allocation and transfer rules referred to in section 3.4A.3(1A) on the basis set out in subsection (4).

    (6)     If an amount calculated under subsection (2) or (3) is less than $0, the amount is taken to be calculated as $0.

    (7)     If an amount calculated under subsection (2) or (3) is not a whole number, the number that is a rounding up of that number to the next 2 decimal points is to be taken to be the amount.

    (8)     The Treasurer may recover an amount payable under subsection (2) or (3) as a debt due to the State.

S. 3.4A.19 (Heading) amended by Nos 43/2009 s. 6(1), 62/2017 s. 23(1).

S. 3.4A.19 inserted by No. 29/2009 s. 25.