Requirement for account
183 Requirement for account
(1) A betting exchange licensee and sports bookmaker licensee must not accept a wager from a person unless:
the person opens and holds an account with the licensee; and
(b) the person is identified in accordance with the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (Cth).
A licensee is exempt from subsection (1) if the licensee:
(a) holds a licence under the Totalisator Licensing and Regulation Act 2000; and
(b) accepts the wager from a customer present at the licensee's retail premises.
(3) A betting exchange licensee and sports bookmaker licensee must close an open customer account if the licensee becomes aware that false information of identity was used to open the account.
This Act’s bill:Explanatory statementSecond reading speech
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