Australian Capital Territory Numbered Acts

BOOKMAKERS (AMENDMENT) ACT (NO. 2) (NO. 53 OF 1994) - SECT 4

4. Section 3 of the Principal Act is amended—

    (a)     by omitting “relating to a race;” from the definition of “bet” and substituting:

“relating to—

        (a)     a race; or

        (b)     a sports betting event;”; and

    (b)     by inserting the following definitions:

“ ‘company' means a company incorporated, or taken to be incorporated, under the Corporations Law;

‘determined fee' means the fee determined by the Minister under paragraph 55 (1) (a) for the purposes of the provision in which the expression occurs;

‘determined percentage', in relation to a fee, means the percentage of the fee determined by the Minister under paragraph 55 (1) (b);

‘determined period', in relation to the payment of a fee, means the period determined by the Minister under paragraph 55 (1) (c) within which the fee is payable;

‘security guarantee', in relation to the suitability requirements governing the exercise of the Committee's powers in respect of a sports betting licence, a sports betting agent's licence, or an applicant for either such licence, means a document or documents satisfying the Committee on reasonable grounds that the licensee or applicant has the capacity to cover reasonable losses resulting from sports betting;

‘sports bet' means a bet between a backer and a bookmaker upon any event or contingency relating to a sports betting event;

‘sports betting agent's licence' means a licence granted under section 39T;

‘Sports Betting Disputes Subcommittee' means the Committee as constituted under section 39ZC;

‘sports betting event' means an event determined by the Minister under subsection 39A (1);

‘sports betting licence' means a licence granted under section 39G;

‘sports betting venue' means a place determined by the Minister under subsection 39B (1);

‘suitability requirements', in relation to a person, means requirements that the person should—

        (a)     have a reputation for sound business conduct;

        (b)     have a reputation for sound character;

        (c)     not have been associated, and not have entered into any business or financial arrangements, with any person who does not have a reputation for sound business conduct and sound character;

        (d)     not have been found guilty of an offence against this Act or the regulations, or an offence against a corresponding law;

        (e)     not have failed to pay an amount due under this Act, in accordance with this Act;

        (f)     within the period of 5 years immediately preceding the date on which the suitability requirements are being applied, not have been found guilty in Australia of an offence punishable by imprisonment for 12 months or more;

        (g)     not have been found guilty in Australia of an offence relating to betting upon any event or contingency relating to a race; and

        (h)     have provided a security guarantee;

‘syndicate' means a group of 2 or more bookmakers;”.