Commission must give notice in relation to bank guarantee
104AD Commission must give notice in relation to bank guarantee
Before demanding payment under a compliant guarantee provided in relation to a standard lottery, the Commission must give the permit holder and any relevant body written notice under this section.
The written notice must —
state the Commission’s intention to demand payment under the guarantee and the amount of money that the Commission intends to demand; and
invite the permit holder and any relevant body to make representations in writing to the Commission as to why the Commission should not demand payment as proposed; and
state the period (which must be at least 7 days after the day on which the notice is given) within which representations may be made.
After the end of the period stated in the notice the Commission must consider any representations in writing made by the permit holder or any relevant body.
If the Commission decides to demand payment under the guarantee, the Commission must give the permit holder and any relevant body written notice of the decision and reasons for the decision.
[Section 104AD inserted: No. 53 of 2024 s. 58.]
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