Victorian Numbered Acts

STATE TAXATION AND GAMBLING LEGISLATION AMENDMENT (BUDGET MEASURES) ACT 2007 (NO. 22 OF 2007) - SECT 9

See:
Act No.
114/2003.
Reprint No. 1
as at
21 July 2005
and amending
Act Nos
16/2004, 104/2004, 18/2005, 22/2005, 92/2005, 98/2005, 7/2006, 23/2006, 24/2006, 32/2006, 48/2006, 54/2006, 79/2006 and 80/2006.
LawToday:
www.
legislation.
vic.gov.au

    (1)     After section 4.2.5(2) of the Gambling Regulation Act 2003 insert —

    "(2A)     Betting rules under subsection (1)(a) must specify the maximum amount (whether expressed as a percentage or otherwise) that may be deducted as commission out of the total amount invested in each totalisator to which the rules relate.

    (2B)     The maximum amount of commission specified in betting rules referred to in subsection (2A) cannot exceed 25% of the total amount invested in the relevant totalisator.

    (2C)     Despite anything to the contrary in this section, a betting rule that specifies a maximum amount that may be deducted as commission referred to in subsection (2A) does not have effect unless, before the rule is made, the Treasurer has given his or her consent in writing to the maximum amount so specified.".

    (2)     After section 4.2.6(4) of the Gambling Regulation Act 2003 insert —

    "(5)     Despite anything to the contrary in this section, the Commission has no power to disallow a betting rule that specifies the maximum amount that may be deducted as commission out of the total amount invested in each totalisator to which the rule relates.".