Victorian Current Acts

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GAMBLING REGULATION ACT 2003 - SECT 4.8.3

Accounts

S. 4.8.3(1) repealed by No. 28/2022 s. 102(a).

    *     *     *     *     *

S. 4.8.3(1A) inserted by No. 40/2008 s. 16(3), amended by No. 13/2023 s. 77.

    (1A)     A wagering and betting licensee must keep such accounting records as correctly record and explain the transactions and financial position of the operations of the licensee.

    (2)     The holder of a permit must keep such accounting records as correctly record and explain the transactions and financial position of the operations of the permit holder.

    (3)     The accounting records must be kept in such manner as will enable true and fair financial statements and accounts to be prepared from time to time and the financial statements and accounts to be conveniently and properly audited.

S. 4.8.3(4) amended by Nos 40/2008 s. 16(4), 28/2022 s. 102(b), 13/2023 s. 77.

    (4)     A wagering and betting licensee and a permit holder must, as soon as practicable after the end of each financial year, prepare financial statements and accounts, including—

        (a)     cash flow statements for the financial year; and

        (b)     profit and loss accounts for the financial year; and

        (c)     a balance-sheet as at the end of the financial year—

that give a true and fair view of the financial operations of the licensee or the permit holder, as the case may be.

Penalty:     60 penalty units.



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