Gambling Regulation (Premium Customer) Regulations 2011 (Vic)

Version No. 001

Gambling Regulation (Premium Customer) Regulations 2011

S.R. No. 3/2011

Version as at

2 February 2011

TABLE OF PROVISIONS

Regulation  Page

1Objective

2Authorising provisions

3Commencement

4Definition

5Prescribed rate

6Premium customer

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ENDNOTES

1.  General Information

2.  Table of Amendments

3.  Explanatory Details

Version No. 001

Gambling Regulation (Premium Customer) Regulations 2011

S.R. No. 3/2011

Version as at

2 February 2011

1Objective

The objective of these Regulations is to prescribe the monetary amounts for the purposes of identifying premium customers and the wagering tax payable in respect of the relevant commissions deducted from the money invested by those customers under the Gambling Regulation Act 2003.

2Authorising provisions

These Regulations are made under sections 4.6.3(6) and 11.2.1 of the Gambling Regulation Act 2003.

3Commencement

These Regulations come into operation on 2 February 2011.

4Definition

In these Regulations, the Act means the Gambling Regulation Act 2003.

5Prescribed rate

For the purposes of section 4.6.3(1AA) of the Act, the prescribed rate is 10%.

6Premium customer

For the purposes of section 4.6.3(7)(a) of the Act, the prescribed amount is—

(a)$3 000 000 for the financial year ending on 30 June 2011;

(b)$3 000 000 for the financial year commencing on 1 July 2011;

(c)$378 000 for the financial year commencing on 1 July 2012.

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ENDNOTES

1.     General Information

The Gambling Regulation (Premium Customer) Regulations 2011, S.R. No. 3/2011 were made on 1 February 2011 by the Governor in Council, on the recommendation of the Treasurer, under sections 4.6.3(6) and 11.2.1 of the Gambling Regulation Act 2003, No. 114/2003 and came into operation on 2 February 2011: regulation 3.

The Gambling Regulation (Premium Customer) Regulations 2011 will sunset 10 years after the day of making on 1 February 2021 (see section 5 of the Subordinate Legislation Act 1994).

2.     Table of Amendments

There are no amendments made to the Gambling Regulation (Premium Customer) Regulations 2011 by statutory rules, subordinate instruments and Acts.

3.     Explanatory Details

No entries at date of publication.