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reg 62

Division of jackpot trust account on ending arrangement

In force
Part 8Linked-jackpot arrangements
Division 8.2Multi-user permits

62 Division of jackpot trust account on ending arrangement

(1)

As soon as practicable after the linked-jackpot arrangement ends, the person who was the permit-holder (the former permit-holder) must try to reach a written agreement with each person who was a linked licensee (the former linked licensees) about the distribution of the remaining balance of the jackpot trust account.

(2)

If agreement is not reached within 4 weeks after the day the linked‑jackpot arrangement ends, the former permit-holder must give the commission a written recommendation about the distribution of the remaining balance of the jackpot trust account between the former linked licensees.

(3)

If the commission is given a recommendation under subsection (2), the commission must—

(a)

consider the recommendation; and

(b)

decide the distribution of the remaining balance of the jackpot trust account; and

(c)

tell the former permit-holder about the decision.

(4)

As soon as practicable after a distribution is agreed or decided, the former permit-holder must give each of the former linked licensees the amount to be distributed to the licensee from the jackpot trust account.

(5)

In this section:

remaining balance of the jackpot trust account does not include any amount won under the linked-jackpot arrangement or uncollected from the linked jackpot.

Part 8A Restrictions on cash facilities—Act, s 178 (2) (c)

Note For other restrictions on cash facilities, see the Act, s 153 and s 153A.

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