Victorian Current Acts Victorian Current ActsS. 4.3A.18(1) amended by Nos 40/2008 s. 29(1), 13/2023 s. 40(1)(a).
(1) On application under section 4.3A.17, the Minister may transfer a wagering and betting licence to the transferee if the Minister is satisfied of the matters specified in subsections (2), (3), (4), (4A) and (5).
(2) The Minister must be satisfied—
(a) that—
(i) the transferee is a wholly-owned subsidiary of the wagering and betting licensee; or
(ii) the transferee and the wagering and betting licensee are both wholly-owned subsidiaries of a third company; and
(b) that the transferee has a physical place of business in Victoria; and
(c) that the transferee is not a prohibited person within the meaning of section 4.3A.3.
S. 4.3A.18(3) amended by No. 13/2023 s. 40(1)(b).
(3) The Minister must be satisfied that the transfer of a wagering and betting licence to the transferee is in the public interest, taking into account each of the following matters—
(a) whether the transferee, and each associate of the transferee, is of good repute, having regard to character, honesty and integrity;
(b) whether the transferee, or an associate of the transferee, has an association with a person or body that is not of good repute having regard to character, honesty and integrity as a result of which the transferee or the associate is likely to be significantly affected in an unsatisfactory manner;
(c) whether each executive officer of the transferee and any other person determined by the Minister to be concerned in or associated with the ownership, management or operation of the transferee's wagering and betting business, is a suitable person to act in that capacity;
(d) whether the transferee has sufficient technical capability and adequate systems to conduct the activities authorised by the licence;
(e) whether the transferee is of sound and stable financial background;
(f) whether the transferee has financial resources that are adequate to ensure the financial viability of a wagering and betting business;
(g) whether the transferee has the ability to maintain a successful wagering and betting business;
(h) whether the transferee has demonstrated a commitment to the promotion of a viable and growing Victorian racing industry;
(i) any other matters that were specified in the notice calling for registrations of interest under section 4.3A.3 in relation to the wagering and betting licence;
(j) any other matters the Minister considers relevant.
(4) The Minister must be satisfied—
S. 4.3A.18(4)(a) amended by No. 13/2023 s. 40(1)(c)(i).
(a) subject to subsection (4AA), that—
(i) the arrangements between the wagering and betting licensee and VicRacing or Racing Products, as the case requires, have been or, before the transfer is effective, will be, concluded to the reasonable satisfaction of the parties; or
(ii) a reasonable opportunity has been given for such a conclusion of those arrangements; and
S. 4.3A.18(4)(b) amended by No. 13/2023 s. 40(1)(c)(ii).
(b) subject to subsection (4AA), that the transferee has entered into, or made a binding offer to enter into, arrangements with VicRacing and arrangements with Racing Products that, in the opinion of the Minister, are no less favourable to VicRacing and Racing Products than those in force between the wagering and betting licensee and VicRacing or Racing Products, as the case requires; and
(c) that the transfer of the licence to the transferee would not result in a person who is not currently an associate of the licensee, or not approved by the Minister to become an associate of the licensee, becoming an associate of the transferee.
S. 4.3A.18(4AA) inserted by No. 13/2023 s. 40(2).
(4AA) Subsection (4)(a) and (b) do not apply in relation to a wagering and betting licence taking effect on or after 16 August 2024.
S. 4.3A.18(4A) inserted by No. 40/2008 s. 29(2), amended by No. 62/2017 s. 56(3).
(4A) The Minister must be satisfied that the transferee has, or when the licence is transferred will have, a Responsible Gambling Code of Conduct that complies with—
S. 4.3A.18(4A)(a) inserted by No. 62/2017 s. 56(3).
(a) regulations made for or with respect to Part 4C in Schedule 1; and
S. 4.3A.18(4A)(b) inserted by No. 62/2017 s. 56(3).
(b) each direction under section 10.6.6(1) that applies in relation to the transferee.
(5) The Minister must be satisfied that the transferee is capable of meeting the obligations of the wagering and betting licensee under any agreements referred to in section 4.3A.10.
S. 4.3A.18(6) amended by No. 13/2023 s. 40(3).
(6) The Minister may refuse to transfer a wagering and betting licence unless a company approved by the Minister that is an associate of the transferee has given the transferee an irrevocable guarantee and indemnity, in the form approved by the Treasurer, in respect of the financial obligations of the transferee.
S. 4.3A.18(7) amended by No. 13/2023 s. 40(3).
(7) In determining whether to grant or refuse an application to transfer a wagering and betting licence, the Minister is entitled to rely on any findings or recommendations contained in the report of the Commission under section 4.3A.19.
S. 4.3A.18(8) substituted by No. 13/2023 s. 40(4).
(8) If the Minister transfers a wagering and betting licence, the transferee becomes a wagering and betting licensee and assumes all the obligations of a wagering and betting licensee under this Act.
S. 4.3A.19 inserted by No. 40/2008 s. 8.