Interactive Gambling (Player Protection—Disqualified Persons) Amendment Regulation (No. 1) 2000 (Qld)

Queensland Subordinate Legislation 2000 No. 213 Interactive Gambling (Player Protection) Act 1998 INTERACTIVE GAMBLING (PLAYER PROTECTION—DISQUALIFIED PERSONS) AMENDMENT REGULATION (No. 1) 2000 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 Amendment of s 4 (Disqualified persons—Act, sch 3) . . . . . . . . . . . . . . . . 3 4 Insertion of new pt 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 PART 4—RESTRICTIONS APPLYING TO MEMBER DECLARED PERSONS Division 1—Preliminary 16 Disqualified persons to whom pt 4 applies . . . . . . . . . . . . . . . . . . . . 4 17 Reference to “holding” a share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 18 References to “knowingly acquiring” a share . . . . . . . . . . . . . . . . . . 4 19 What is a beneficial interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 20 Prohibited shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Division 2—Involvement of member declared persons with licensed corporations through prohibited shareholding 21 Member declared person not to knowingly acquire or hold prohibited shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 22 Forfeiture of prohibited shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 23 Member declared person not to profit on disposal of beneficial interest in licensed corporation . . . . . . . . . . . . . . . . . . . . . 8

2 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 Division 3—Miscellaneous 24 Licensed corporations to ensure member declared persons are not business or executive associates . . . . . . . . . . . . . . . . . . . . . . 9 25 Chief executive may require information or document . . . . . . . . . . 9 5 Amendment of sch (Dictionary) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

s1 3 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 ˙ Short title 1. This regulation may be cited as the Interactive Gambling (Player Protection—Disqualified Persons) Amendment Regulation (No. 1) 2000 . ˙ Regulation amended 2. This regulation amends the InteractiveGambling(PlayerProtection—Disqualified Persons) Regulation 1999 . ˙ Amendment of s 4 (Disqualified persons—Act, sch 3) 3.(1) Section 4— insert — ‘ (2A) Also, a person is a disqualified person if the person is mainly employed or otherwise engaged for the purpose of the electoral, Ministerial or parliamentary functions of a particular member of the Legislative Assembly. ‘ (2B) Subsection (2A) does not apply to the clerk of the Parliament.’. (2) Section 4(3), ‘subsection (2)’— omit, insert — ‘subsection (2) or (2A)’. ˙ Insertion of new pt 4 4. After part 3— insert —

s4 4 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 ‘ PART 4—RESTRICTIONS APPLYING TO MEMBER DECLARED PERSONS ‘ Division 1—Preliminary ˙ ‘ Disqualified persons to whom pt 4 applies ‘ 16. This part applies to the following disqualified persons (the “member declared persons” )— (a) a member of the Legislative Assembly; (b) a spouse or child of a member of the Legislative Assembly; (c) a disqualified person mentioned in section 4(2A), 1 whether the person is a disqualified person because of the operation of the subsection or because the person is of a type mentioned in paragraphs (a) to (f) of the definition “disqualified person” in schedule 3 of the Act. ˙ ‘ Reference to “holding” a share ‘ 17.(1) A reference in this part to a person holding a share is a reference to the person holding the share for himself or herself, or for someone else. ‘ (2) However, a reference in this part to a person holding a share does not include the holding of a share by a Minister under an Act. ‘ (3) Also, for this part, a person is taken to hold a share if someone else holds the share for the person. ˙ ‘ References to “knowingly acquiring” a share ‘ 18. For this part, a person knowingly acquires a share if the person starts holding the share through an act or omission of the person. 1 Section 4 (Disqualified persons—Act, sch 3)

s4 5 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 Examples— 1. A person knowingly acquires a share if— (a) the person buys the share; or (b) someone else buys the share for the person at the person’s request; or (c) the share is gifted to the person in circumstances where the person is able to decline the gift before it is made but does not do so. 2. A person does not knowingly acquire a share if the share is gifted or bequeathed to the person without the person’s knowledge. ˙ ‘ What is a beneficial interest ‘ 19.(1) For this part, a person is taken to have a beneficial interest in a licensed corporation if the person— (a) holds a share in the licensed corporation; or (b) holds a share in a corporation that has a beneficial interest in the licensed corporation; or (c) is a beneficiary of a trust for which the trust property includes— (i) a share in the licensed corporation; or (ii) a share in a corporation that has a beneficial interest in the licensed corporation. ‘ (2) For this part, a person is taken to have a beneficial interest in a share (the “first share” ) if the person— (a) holds the first share; or (b) holds a share in a corporation that has a beneficial interest in the first share; or (c) is a beneficiary of a trust for which the trust property includes— (i) the first share; or (ii) a share in a corporation that has a beneficial interest in the first share. ‘ (3) Subsections (1) and (2) do not limit the ways a person may have a beneficial interest in a licensed corporation or a share.

s4 6 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 ‘ (4) However, a person is not taken to have a beneficial interest in a licensed corporation, or in a share, if the person would otherwise have the beneficial interest only because of the person’s interest in a managed investment scheme or superannuation fund. ‘ (5) In this section— “managed investment scheme” has the same meaning as in section 9 2 of the Corporations Law. “superannuation fund” means a regulated superannuation fund, approved deposit fund, pooled superannuation trust or public sector superannuation scheme within the meaning of the Superannuation Industry (Supervision) Act 1993 (Cwlth), sections 10(1) and 19. 3 ˙ ‘ Prohibited shares ‘ 20. For this part, shares held by a member declared person are “prohibited shares” if— (a) the shares are a licensed corporation’s shares; or (b) the person— (i) has a beneficial interest in a licensed corporation; and (ii) would not have a beneficial interest in the corporation if the person did not hold the shares. ‘ Division 2—Involvement of member declared persons with licensed corporations through prohibited shareholding ˙ ‘ Member declared person not to knowingly acquire or hold prohibited shares ‘ 21.(1) A member declared person must not knowingly acquire— 2 Corporations Law, section 9 (Dictionary) 3 Superannuation Industry (Supervision) Act 1993 (Cwlth), sections 10 (Definitions) and 19 (Regulated superannuation fund)

s4 7 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 (a) a licensed corporation’s shares; or (b) other shares that the person knows, or ought reasonably to know, will be prohibited shares if the person holds them. Maximum penalty—20 penalty units. ‘ (2) If a member declared person becomes aware that the person is holding prohibited shares, the person must— (a) dispose of the shares within 14 days after becoming aware; or (b) take other action to ensure that, within 14 days after becoming aware, the person ceases to hold prohibited shares. Maximum penalty—20 penalty units. Example for subsection (2)— A member declared person has shares in ABC Pty Ltd, which acquires shares in XYZ Ltd. The person becomes aware that XYZ Ltd has shares in a licensed corporation and that, therefore, the person’s shares in ABC Pty Ltd are prohibited shares. The person may comply with this subsection by— (a) disposing of the person’s shares in ABC Pty Ltd; or (b) ensuring that ABC Pty Ltd disposes of its shares in XYZ Ltd; or (c) ensuring that XYZ Ltd disposes of its shares in the licensed corporation. ‘ (3) Without limiting the ways a member declared person may become aware that shares held by the person are prohibited shares, the chief executive may give the person a written notice of that fact. ˙ ‘ Forfeiture of prohibited shares ‘ 22.(1) This section applies if a member declared person acquires shares in contravention of section 21(1). ‘ (2) This section also applies if— (a) a member declared person holds prohibited shares; and (b) it is at least 15 days after the person first became aware that the person was holding prohibited shares.

s4 8 s4 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 ‘ (3) The chief executive, by written notice given to the person, may forfeit the shares to the State. ˙ ‘ Member declared person not to profit on disposal of beneficial interest in licensed corporation ‘ 23.(1) This section applies if— (a) a person (the “first person” ) disposes of shares; and (b) because of the disposal, a member declared person— (i) no longer has a beneficial interest in a licensed corporation; or (ii) has less of a beneficial interest in a licensed corporation than the member declared person had before the disposal; and (c) there is an amount (the “sale profit” ) by which the consideration received by the first person in disposing of the shares is more than the consideration given by the first person in acquiring the shares. ‘ (2) If the consideration received or given for the shares by the first person consists wholly or partly of something other than money, a reference in subsection (1)(c) to the consideration is a reference to the monetary value of the consideration. ‘ (3) On a written demand from the chief executive, the member declared person must pay to the chief executive an amount equal to the proportion of the sale profit that the chief executive considers, on reasonable grounds, reflects the member declared person’s beneficial interest in the shares. ‘ (4) The chief executive may recover an amount demanded under subsection (3) as a debt payable to the State.

s5 9 s5 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) No. 213, 2000 ‘ Division 3—Miscellaneous ˙ ‘ Licensed corporations to ensure member declared persons are not business or executive associates ‘ 24. A licensed corporation must ensure that a member declared person is not a business or executive associate of the corporation. ˙ ‘ Chief executive may require information or document ‘ 25.(1) The chief executive may, by written notice given to a person, require the person to give the chief executive, within the reasonable time stated in the notice (but not less than 14 days), information or a document that is necessary and reasonable to help the chief executive decide— (a) whether a member declared person is holding prohibited shares; or (b) what shares, if any, may be forfeited under section 22; or (c) what amount, if any, may be demanded under section 23. ‘ (2) A person must comply with a requirement made under subsection (1) unless the person has a reasonable excuse. Maximum penalty—20 penalty units. ‘ (3) It is a reasonable excuse for the person not to comply with the requirement if complying with the requirement might tend to incriminate the person.’. ˙ Amendment of sch (Dictionary) 5.(1) Schedule, definitions “beneficial interest”, “holding”, “knowingly acquire” and “prohibited shares”— omit . (2) Schedule— insert —

s 5 10 Interactive Gambling (Player Protection—Disqualified Persons) Amendment (No. 1) ‘ “beneficial interest” means— (a) for part 3—see section 9; or (b) for part 4—see section 19. “holding” , for a share, means— (a) for part 3—see section 7; or (b) for part 4—see section 17. “knowingly acquire” , for a share, means— (a) for part 3—see section 8; or (b) for part 4—see section 18. “member declared person” see section 16. “prohibited shares” means— (a) for part 3—see section 10; or (b) for part 4—see section 20.’. s5 No. 213, 2000 ENDNOTES 1. Made by the Governor in Council on 17 August 2000. 2. Notified in the gazette on 18 August 2000. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Queensland Office of Gaming Regulation. © State of Queensland 2000