Gaming Control Amendment (Trading Accounts) Act 2001 (TAS)

Gaming Control Amendment (Trading Accounts) Act 2001

An Act to amend the Gaming Control Act 1993

[Royal Assent 12 April 2001]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1Short titleThis Act may be cited as the Gaming Control Amendment (Trading Accounts) Act 2001 . 2CommencementThis Act commences on the day on which this Act receives the Royal Assent. 3Principal ActIn this Act, the Gaming Control Act 1993 is referred to as the Principal Act. 4Section 76ZZAA insertedAfter section 76ZZ of the Principal Act , the following section is inserted in Division 10: 76ZZAATrading accounts (1)  In this section, trading account means an account established with a licensed provider holding a Tasmanian gaming licence endorsed with a sports betting endorsement or a fixed odds wagering endorsement, or both, by a player or other person, being an account that may be operated so as to have credit and debit balances. (2)  A licensed provider may apply to the Commission for an authority to operate trading accounts. (3)  An application is to be in a form that is approved by the Commission. (4)  On receipt of an application, the Commission may grant or refuse to grant an authority to operate trading accounts. (5)  An authority to operate trading accounts is subject to the conditions determined by the Commission and specified in the authority. (6)  Despite any other provision of this Act, a licensed provider who holds a Tasmanian gaming licence endorsed with a sports betting endorsement or a fixed odds wagering endorsement, or both, may operate a trading account in respect of a player or other person if the provider – (a) is the holder of an authority to operate trading accounts; and (b) considers that – (i) the player or other person is suitable to have access to a trading account; and (ii) it is otherwise appropriate to operate the trading account; and (c) operates the trading account in accordance with the conditions to which the authority to operate trading accounts is subject. (7)  At any time a licensed provider that is operating a trading account in respect of a player or other person may close it.

[Second reading presentation speech made in:

House of Assembly on 15 MARCH 2001

Legislative Council on 21 MARCH 2001]