Victorian Numbered Acts Victorian Numbered ActsAfter Part 4 of Chapter 10 of the Gambling Regulation Act 2003 insert —
In this Part—
"associate suitability criteria", in relation to an associate, or a person who may become an associate, of a gambling industry participant, means—
(a) whether the person is of good repute, having regard to character, honesty and integrity;
(b) whether the person is of sound and stable financial background;
(c) whether the person has any business association with any person, body or association who or which, in the opinion of the Commission, is not of good repute having regard to character, honesty and integrity or has undesirable or unsatisfactory financial resources;
"listed corporation" has the same meaning as in section 9 of the Corporations Act;
"listed gambling industry participant" means a gambling industry participant that is a listed corporation;
voting share in relation to a gambling industry participant, has the same meaning as in section 9 of the Corporations Act.
For the purposes of this Part, a person has a relevant interest in a share if, and only if, the person would be taken to have a relevant interest in the share because of sections 608 and 609 of the Corporations Act.
A reference in this Part to the Corporations Act is a reference to that Act as it would apply if references in that Act to a body corporate, corporation or company included references to—
(a) a body corporate of any kind wherever formed or incorporated and whether formed or incorporated under that Act or any other law; and
(b) any unincorporated body, being a society, association, company of proprietors or other body, wherever formed, that, under the law of its place of formation, may sue or be sued, or may hold property in the name of the secretary or some other officer of the society, association or body, or in the name of any trustee or trustees; and
(c) any unincorporated body, being a society, association, company of proprietors or other body or undertaking to which is applied, under the laws of the place of its formation, with or without exceptions, a law in force in that place relating to companies or corporations as if it were a company or corporation within the meaning of that Act.
(1) Whenever a change of a kind specified by the Commission in writing given to a person who is—
(a) a gambling industry participant; or
(b) an associate of a participant; or
(c) a nominee of a participant (if the participant is required under the Act to have a nominee)—
takes place in the situation existing in relation to that person, the person must notify the Commission in writing of the change within 14 days after it takes place.
Penalty: 60 penalty units.
(2) A function of the Commission under this section may be performed by any commissioner.
A gambling industry participant must notify the Commission in writing that a person is likely to become an associate of the participant of the kind referred to in section 1.4(1)(a) or (b) as soon as practicable after the participant becomes aware of the likelihood.
Penalty: 60 penalty units.
A gambling industry participant must notify the Commission in writing of any person becoming an associate of the participant—
(a) of the kind referred to in section 1.4(1)(a) or (b); and
(b) in respect of whom no approval has been granted under section 10.4A.7—
within 7 days after becoming aware that the person has become an associate.
Penalty: 60 penalty units.
(1) A gambling industry participant must ensure that a person does not become an associate of the kind referred to in section 1.4(1)(a) or (b) except with the prior approval in writing of the Commission.
Penalty: 60 penalty units.
(2) On application by a gambling industry participant, the Commission may grant its approval, but must not grant its approval unless satisfied that the person is suitable to be concerned in or associated with the gambling business of the gambling industry participant.
(3) In determining whether the person is a suitable person to be concerned in or associated with the gambling business of the gambling industry participant, the Commission must have regard to the associate suitability criteria.
(4) If the Commission refuses to grant its approval—
(a) the Commission must notify the gambling industry participant in writing; and
(b) to the extent that it is within the gambling industry participant's power to do so, the participant must ensure—
(i) that the person does not become an associate; or
(ii) if the person becomes or has become an associate, that the person ceases to be an associate of the licensee within 28 days after the licensee is notified by the Commission under paragraph (a).
(5) An approval under this section may be granted subject to any conditions that the Commission thinks fit.
Note
Division 1 of Part 4 of Chapter 10 provides for the investigation of an application to approve a person to become an associate of a gambling industry participant.
(1) This section applies if—
(a) a person is an associate of a gambling industry participant within the meaning of section 1.4(1)(a) or (b); and
(b) the Commission, having regard to the associate suitability criteria, determines that the associate is unsuitable to be concerned in or associated with the gambling business of the gambling industry participant.
(2) The Commission may, by notice in writing, require the associate to terminate the association with the gambling industry participant.
(3) An associate who is given written notice under subsection (2) must terminate the associate's association with the gambling industry participant within 14 days or any longer period agreed with the Commission.
(4) If the association is not terminated within 14 days after the date of the notice referred to in subsection (2) or any longer period agreed with the Commission, the Commission may, by notice in writing, direct the gambling industry participant to take all reasonable steps to terminate the association.
(5) A gambling industry participant must comply with the direction under subsection (4) within 14 days or any longer period agreed with the Commission.
(1) If the Commission determines that an associate of a gambling industry participant has engaged or is engaging in conduct that, in the Commission's opinion, is unacceptable for a person who is concerned in or associated with the gambling business of the gambling industry participant, the Commission may—
(a) issue a written warning to the associate that the conduct is unacceptable; or
(b) give written notice to the associate requiring the associate to give a written undertaking to the Commission, within the period specified in the notice, regarding the future conduct of the associate.
(2) If the associate fails to give an undertaking required under subsection (1)(b) or breaches an undertaking given under that provision, the Commission may give the associate written notice requiring the associate to terminate, within 14 days or a longer period agreed with the Commission, the association with the gambling industry participant.
(3) If the association is not terminated within 14 days after the date of the notice referred to in subsection (2) or any longer period agreed with the Commission, the Commission may, by notice in writing, direct the gambling industry participant to take all reasonable steps to terminate the association.
(4) A gambling industry participant must comply with the direction under subsection (3) within 14 days or any longer period agreed with the Commission.
(1) This section applies if after considering a report under section 10.4A.14, the Minister considers that—
(a) a person who is the subject of the report has a relevant interest in shares in a listed gambling industry participant and because of that interest is an associate of the participant of the kind referred to in section 1.4(1)(a); and
(b) the person is not suitable to be concerned in or associated with the gambling business of the listed gambling industry participant (the unsuitable associate ).
(2) The Minister may, by notice in writing served on—
(a) if the unsuitable associate holds voting shares in the listed gambling industry participant in which the unsuitable associate has a relevant interest—the unsuitable associate; or
(b) any other person who holds voting shares in the listed gambling industry participant in which the unsuitable associate has a relevant interest—
declare that the unsuitable associate or that other person must, within a period specified in the notice, dispose of the relevant number of those shares or a specified number of those shares not exceeding the relevant number.
(3) A period specified in a notice under subsection (2) must not be less than 3 months commencing on the day the notice is served.
(4) For the purposes of subsection (2), the relevant number of shares that an unsuitable associate or other person may be required by a notice under that subsection to dispose of is the number of shares held by the unsuitable associate or other person that would need to be so disposed of in order to cause the unsuitable associate to cease to be an associate of the listed gambling industry participant.
(5) For the purposes of this section, an unsuitable associate or other person is not to be taken to have disposed of shares in the listed gambling industry participant in which an unsuitable associate has a relevant interest unless and until the unsuitable associate or other person ceases to hold the shares and the unsuitable associate ceases to have a relevant interest in them.
(6) If an unsuitable associate or other person served with a notice of a declaration under subsection (2) requiring the associate or person to dispose of shares in the listed gambling industry participant fails to comply with the notice within the period specified in the notice, the shares to which the notice relates are, by force of this subsection, forfeited to the State.
(7) The Minister must cause written notice of a declaration under subsection (2) requiring an unsuitable associate or other person to dispose of shares in the listed gambling industry participant to be served on the listed gambling industry participant.
(1) The Commission is to sell any shares forfeited to the State under this Division.
(2) For the purposes of any such sale, the Commission is not bound by any restriction on the sale of shares contained in the constitution of the gambling industry participant.
(3) Any money realised from the sale of forfeited shares under this section must, after deduction of the reasonable costs of the forfeiture and sale, be paid to the person from whom the shares were forfeited.
(1) For the purposes of Divisions 4 and 5, the Commission may from time to time investigate—
(a) an associate, a person likely to become an associate, or a person the Commission suspects is an associate of a gambling industry participant; or
(b) any person, body or association having a business association with an associate of a gambling industry participant.
(2) The Commission—
(a) may require an associate, a person likely to become an associate or a person the Commission suspects is an associate to consent to having his or her photograph, finger prints and palm prints taken; and
(b) must refer a copy of such photograph, finger prints and palm prints and any supporting documents to the Chief Commissioner of Police.
(3) A function of the Commission under this section may be performed by any commissioner.
(1) For the purpose of any investigation under this Division, the Commission may, by notice in writing, require a regulated person—
(a) to provide the Commission or an authorised person, in accordance with directions in the notice, with any information as is specified in the notice that is—
(i) relevant to the regulated person; or
(ii) relevant to the gambling business of the gambling industry participant; or
(iii) otherwise required by the Commission; or
(b) to produce to the Commission or an authorised person, in accordance with the directions in the notice, any records or documents specified in the notice that are—
(i) relevant to the regulated person; or
(ii) relevant to the gambling business of the gambling industry participant; or
(iii) otherwise required by the Commission—
and to permit examination of those records or documents, the taking of extracts from them and the making of copies of them; or
(c) to attend before the Commission or an authorised person for examination, and to answer questions, in relation to any matters—
(i) relevant to the regulated person; or
(ii) relevant to the gambling business of the gambling industry participant; or
(iii) otherwise required by the Commission.
(2) If records or documents are produced under this section, the Commission or authorised person to whom they are produced may retain possession of the records or documents for such period as may reasonably be necessary to permit examination of the records or documents, the taking of extracts from them and the making of copies of them.
(3) At any reasonable times during the period for which records or documents are retained, the Commission or authorised person must permit inspection of the records or documents by a person who would be entitled to inspect them if they were not in the possession of the Commission or an authorised person.
(4) A person incurs, with a requirement of a notice under this section, no liability for breach of contract, breach of confidence or any other civil wrong.
(5) In this section—
"regulated person" means—
(a) a gambling industry participant; or
(b) a person who in the opinion of the Commission is an associate of a gambling industry participant.
(1) The Commission must make a written report to the Minister on any investigation under this Division if after that investigation the Commission considers that—
(a) a person has a relevant interest in the shares in a listed gambling industry participant and because of that interest is an associate of the listed gambling industry participant of the kind referred to in section 1.4(1)(a); and
(b) the person is not suitable to be concerned in or associated with the gambling business of the listed gambling industry participant.
(2) The report must contain—
(a) an explanation of the relevant interest the person has in the listed gambling industry participant and how, by having that interest, the person is an associate of the listed gambling industry participant; and
(b) the reasons why the Commission considers that the person is not suitable to be concerned in or associated with the gambling business of the listed gambling industry participant.".