Victorian Current Acts

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GAMBLING REGULATION ACT 2003 - SECT 4.8.5

Audit of books, accounts and financial statements

S. 4.8.5(1) amended by No. 40/2008 s. 16(8), repealed by No. 28/2022 s. 104(a).

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S. 4.8.5(1A) inserted by No. 40/2008 s. 16(9), amended by No. 13/2023 s. 79(a).

    (1A)     A wagering and betting licensee must, as soon as practicable after the end of each financial year, cause the books, accounts and financial statements of the licensee to be audited by an auditor approved by the Commission.

Penalty:     60 penalty units.

    (2)     The holder of a permit must, as soon as practicable after the end of each financial year, cause the books, accounts and financial statements of the permit holder to be audited by an auditor approved by the Commission.

    (3)     The auditor—

S. 4.8.5(3)(a) amended by Nos 40/2008 s. 16(10), 28/2022 s. 104(b).

        (a)     has right of access at all times to the books of the wagering and betting licensee or permit holder; and

S. 4.8.5(3)(b) amended by Nos 40/2008 s. 16(10), 28/2022 s. 104(b).

        (b)     may require from an officer or employee of the wagering and betting licensee or permit holder any information, assistance and explanations necessary for the performance of the duties of the auditor in relation to the audit.

S. 4.8.5(3A) inserted by No. 40/2008 s. 16(11), amended by Nos 28/2022 s. 104(b), 13/2023 s. 79(b).

    (3A)     An officer or employee of a wagering and betting licensee or permit holder must comply with a requirement under subsection (3)(b).

Penalty:     60 penalty units.

S. 4.8.5(4) amended by Nos 40/2008 s. 16(12)(13), 28/2022 s. 104(b), 13/2023 s. 79(c).

    (4)     A wagering and betting licensee or permit holder must cause the auditor's report to be lodged with the Commission within 75 days (or any longer period not exceeding 4 months agreed by the Commission) after the end of the financial year to which the report relates.

Penalty:     60 penalty units.

S. 4.8.5(5) amended by No. 40/2008 s. 16(14), repealed by No. 28/2022 s. 104(c).

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Division 2—Reporting



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