Racing and Betting Act Amendment Act 1974 (Qld)

669 QUUMIMer ANNO VICESIMO TERTIO ELIZABETHAE SECUNDAE REGINAE No. 70 of 1974 An Act to amend the Racing and Betting Act 1954-1972 in certain particulars [ASSENTED TO 1ST NOVEMBER, 1974] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Racing and Betting Act Amendment Act 1974. (2) The Racing and Betting Act 1954-1972 is in this Act referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Racing and Betting Act 1954-1974. 2. Commencement of Act. This Act shall come into operation on 1 November 1974.

670 Racing and Betting Act Amendment Act 1974, No. 70 3. Amendment of s. 69. Unpaid dividends. Section 69 of the Principal Act is amended- (a) by adding to the note to the section appearing in and at the beginning the words " and refunds."; (b) by inserting in subsections (1), (2) and (3), after the word " dividend " (wherever occurring), the words " or refund "; (c) by inserting in subsection (2), at the end thereof, the expression " but, notwithstanding the expiration of the said period of three months, the Minister may, if he is satisfied that he should do so in the circumstances of the case, direct that the dividend or refund be paid to the person to whom it would have been payable if that period had not expired "; (d) by inserting in paragraphs (a) and (b) of subsection (4), after the word " dividends " (wherever occurring), the words " and refunds "; (e) by inserting in paragraphs (b), (c) and (f) of subsection (4), after the word " dividend " (wherever occurring), the words " or refund "; (f) by inserting after paragraph (d) of subsection (4) the following paragraphs:- " (da) The provisions of paragraphs (b), (c) and (db) shall extend to refunds unpaid at the date of the commencement of the Racing and Betting Act Amendment Act 1974 in respect of bets made on events or contingencies decided before that date whether or not the periods specified in the said paragraphs have expired save that the Authority shall not pay to any person any such refund unless in a case to which paragraph (c) applies the person claimed it within a period of 28 days from and including the day on which the event or contingency on which the bet was made was decided and, without prejudice to the power of the Authority to make an ex gratia payment pursuant to paragraph (db), in any other case he produced to the Authority the original of the ticket in respect of the bet issued by it before the expiration of the period of three months from and including the day on which the event or contingency on which the bet was made was decided. (db) If, upon the expiration of three months from and including the date on which the event or contingency on which the bet was made was decided, the refund has not been paid by the Authority as provided by this subsection, the moneys in question shall become and be the property of the Authority absolutely and may be disposed of as it deems proper but, notwithstanding that the moneys in question have become the property of the Authority, the Authority may, if it is satisfied that it should do so in the circumstances of the case, make the refund to the person to whom it would have been payable if the said period had not expired."; (g) by inserting in paragraph (e), at the end thereof, the expression " but, notwithstanding payment of the dividend to the Commissioner of Stamp Duties pursuant to this paragraph, the Minister may, if he is satisfied that he should do so in the circumstances of the case, direct

Racing and Betting Act Amendment Act 1974, No. 70 671 that the dividend be paid to the person to Whom it would have been payable if the period during which the Authority may retain the dividend had not expired "; and (h) by adding, after subsection (4), the following subsection:- (5) In this section- "refund" means a refund of moneys invested on a totalisator to which investor has become entitled under this Act, or the rules relating to investment with the Authority, and which has not been claimed and recovered by the person entitled thereto.". 4. Amendment of s. 71A. Off the course betting on totalisators. Section 71A of the Principal Act is amended- (a) by inserting in the first subparagraph of paragraph (a) of subsection (6), at the end thereof, the words " and, on all bets made with the Authority, additional totalisator tax shall be levied and charged at the rate of one-half per centum of the amount of all bets made on a doubles totalisator operated by the Authority and 1 per centum of the amount of all bets made on a trebles totalisator operated by the Authority ";• (b) by omitting from the first subparagraph of paragraph (d) of subsection (6) the expression "Authority and, in respect of bets made off a racecourse on a totalisator on a racecourse " and substituting the expression "Authority and, in respect of bets made with the Authority, additional commission shall be payable to the Authority at the rate of 2 per centum of all moneys paid, in respect of all such bets, into each and every doubles totalisator operated by the Authority and at the rate of 4 per centum of all moneys paid, in respect of all such bets, into each and every trebles totalisator operated by the Authority. In respect of bets made off a racecourse on a totalisator on a racecourse, such commission "; (c) by omitting from the first subparagraph of paragraph (f) of subsection (6) the expression "Authority and, in respect of bets made off a coursing ground on a totalisator on a coursing ground " and substituting the expression "Authority and, in respect of bets made with the Authority, additional commission shall be payable to the Authority at the rate of 2 per centum of all moneys paid, in respect of all such bets, into each and every doubles totalisator operated by the Authority and at the rate of 4 per centum of all moneys paid, in respect of all such bets, into each and every trebles totalisator operated by the Authority. In respect of bets made off a coursing ground on a totalisator on a coursing ground, such commission "; (d) by omitting subsection (8) and substituting the following subsections :- " (8) (a) There shall be established and maintained at the Treasury a fund which shall be known as the " Totalisator Investments Deduction Fund ", hereinafter in this subsection referred to as the " Fund ".

672 Racing and Betting Act Amendment Act 1974, No. 70 (b) There shall be paid into the Fund a portion of the moneys paid as totalisator tax pursuant to subsection (6) in respect of bets made with the Authority equal to one-half per centum of the amount of all such bets paid into a doubles totalisator operated by the Authority and one per centum of the amount of all such bets paid into a trebles totalisator operated by the Authority. (c) Subject to appropriation by Parliament, moneys for the time being standing to the credit of the Fund may be applied towards assisting the capital improvements programme of the Authority and for such other purposes as to the Governor in Council may seem proper. (9) For the purposes of this section and section 71c- " doubles totalisator " means a totalisator operated in respect of any two races at any race meeting or coursing meeting or at any race meetings or coursing meetings for the purpose of selection by investors of a combination of one horse or dog to win the first race and one horse or dog to win the second race; " trebles totalisator " means a totalisator operated in respect of any three races at any race meeting or coursing meeting or at any race meetings or coursing meetings for the purpose of selection by investors of a combination of one horse or dog to win the first race, one horse or dog to win the second race and one horse or dog to win the third race.". 5. Amendment of s. 71C. Establishment of fund . Section 71c of the Principal Act is amended- (a) by inserting in paragraph (c) of subsection (2), after the word "Authority ", the expression " (other than in respect of bets made with the Authority and made on a doubles totalisator, or a trebles totalisator, operated by the Authority) "; (b) by renumbering paragraphs (d), (e) and (f) of subsection (2) paragraphs (f), (g) and (h), respectively, thereof; and (c) by inserting after paragraph (c) the following paragraphs:- (d) 12.5 per centum of all moneys (other than moneys paid into the Totalisator Investment Deduction Fund pursuant to subsection (8) of section 71A) paid as totalisator tax by the Authority in respect of a doubles totalisator at the rate of 6.5 per centum; (e) 12.5 per centum of all moneys (other than moneys paid into the Totalisator Investment Deduction Fund pursuant to subsection (8) of section 71A) paid as totalisator tax by the Authority in respect of a trebles totalisator at the rate of 7 per centum.".

Racing and Betting Act Amendment Act 1974. A" . 70 673 6. Amendment of s. 71F. Interest rate on and nature of advance. Section 71F of the Principal Act is amended by omitting paragraph (b) and substituting the following paragraph:- (b} the advance shall be made, and it is hereby declared always could have been made. by way of loan on such terms and on such security (if any) as the Minister in the circumstances of the case approves or may have approved.". 22