Racing and Gaming Amendment (Electronic Funds Transfer) Act 1999
An Act to amend the Racing and Gaming Act 1952
[Royal Assent 22 December 1999]
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 Racing and Gaming Amendment (Electronic Funds Transfer) Act 1999 . 2CommencementThis Act commences on the day on which this Act receives the Royal Assent. 3Principal ActIn this Act, the Racing and Gaming Act 1952 is referred to as the Principal Act. 4Section 57K amended (Manner of betting with Board) Section 57K of the Principal Act is amended as follows: (a) by omitting from subsection (1)(b) "with." and substituting "with; or"; (b) by inserting the following paragraph after paragraph (b) in subsection (1) : (c) makes the bet by electronic means and the conditions set out in subsection (2) have been complied with. (c) by omitting from subsection (2) "or telephone message shall" and substituting "telephone message or electronic means must". 5Section 57L amended (Deposit accounts) Section 57L of the Principal Act is amended by omitting subsection (1) and substituting the following subsections: (1) In this section – authorised deposit-taking institution means a body corporate that is an authorised deposit-taking institution for the purposes of the Banking Act 1959 of the Commonwealth; credit card means a card, issued by an authorised deposit-taking institution, that enables the holder of the card to do either or both of the following: (a) electronically operate a savings or other account with that institution; (b) electronically obtain money on credit from that institution. (1A) A person may, in accordance with the rules – (a) establish and maintain a deposit account with the Board; and (b) close any such deposit account. (1B) A payment to establish or maintain a deposit account may, subject to the rules, be made to the Board – (a) in person or by postal or electronic means; or (b) by another means approved by the Board. (1C) If the payment is made by electronic means, those means may include the use of a credit card approved by the Board. (1D) A payment to establish a deposit account is to be at least – (a) $50.00 or a prescribed amount, whichever is greater, if the payment is made by means of a credit card; or (b) $5.00 or a prescribed amount, whichever is greater, if the payment is made by other means. (1E) A payment to maintain a deposit account – (a) is to be at least $50.00 or a prescribed amount, whichever is greater, if the payment is made by means of a credit card; or (b) may be for any amount if the payment is made by other means. (1F) A person may use money standing to the credit of the person’s deposit account to make bets with the Board and any dividends that are due to the person in respect of such bets are to be credited to the account. (1G) Subject to subsections (1J) and (3) , the Board must, on request in accordance with the rules, pay the whole or any part of the amount standing to the credit of a person’s deposit account to that person. (1H) If the person requests that the whole of the amount be paid out, the account is taken to have been closed. (1J) A person who pays an amount of money to the Board by means of a credit card for the purpose of establishing or maintaining a deposit account is not entitled to withdraw or transfer that amount, or authorise the withdrawal or transfer of that amount, from the account unless the person is closing the account. [Second reading presentation speech made in:
House of Assembly on 2 DECEMBER 1999
Legislative Council on 7 DECEMBER 1999]