Meaning of final period
16 Meaning of final period
The final period, in relation to a person who has a change of status during a financial year, is the period—
starting on 1 July in the financial year; and
ending on the following day (each the end day for the final period)—
for a change of status mentioned in section 15(a)(i) or (ii)—the day the person ceases to be authorised or exempt from the authorisation requirements;
for a change of status mentioned in section 15(b)—the day the person ceases to conduct betting operations;
for a change of status mentioned in section 15(c)—the day before the administrator is appointed;
for a change of status mentioned in section 15(d)—the day the appointment of the administrator ceases to have effect.
Examples—
1 The licence under which a relevant betting operator is authorised to conduct betting operations ends on 31 March 2020. The final period in relation to the betting operator’s change of status is the period starting on 1 July 2019 and ending on 31 March 2020.
2 A receiver is appointed for the property of a relevant betting operator on 1 October 2019. The receiver’s appointment ceases to have effect on 1 December 2019. The final period in relation to the betting operator’s first change of status is the period starting on 1 July 2019 and ending on 30 September 2019. The final period in relation to the betting operator’s second change of status is the period starting on 1 July 2019 and ending on 1 December 2019.
This Act’s bill:Explanatory memorandumSecond reading speech
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