Provision of financial assistance by gaming-related licensee
122 Provision of financial assistance by gaming-related licensee
The holder of a gaming-related licence must not enter into a transaction in respect of which the licensee—
provides financial assistance to a hotelier or club, or
guarantees the observance by a hotelier or club of a term or condition on which financial assistance is provided to the hotelier or club by a person other than the licensee, or
indemnifies any person against any loss suffered in relation to financial assistance provided to a hotelier or club,
unless the transaction has been approved by the Authority in writing.
Maximum penalty—50 penalty units.
The holder of a gaming-related licence must not, unless with the Authority’s written approval, agree to a variation of a term or condition of a transaction under this section that has been approved by the Authority.
Maximum penalty—50 penalty units.
The holder of a gaming-related licence is guilty of an offence if—
financial arrangements made by the licensee have been approved by the Authority, and
there is a change in those arrangements that has not been approved by the Authority, and
the Authority is not notified of the change immediately after it comes to the notice of the licensee.
Maximum penalty—50 penalty units.
This Act’s bill:Explanatory memorandumSecond reading speech
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