Totalizator Amendment Act 2008 (NSW)

An Act to amend the Totalizator Act 1997 with respect to commission that a licensee may take on totalizator betting.

1Name of Act

This Act is the Totalizator Amendment Act 2008.

2Commencement

This Act commences on the date of assent to this Act.

3Amendment of Totalizator Act 1997 No 45

The Totalizator Act 1997 is amended as set out in Schedule 1.

4Repeal of Act(1)

This Act is repealed on the day following the day on which this Act commences.

(2)

The repeal of this Act does not, because of the operation of section 30 of the Interpretation Act 1987, affect any amendment made by this Act.

Schedule 1Amendments

(Section 3)

[1]Section 3 Objects of Act

Omit “and” where lastly occurring in section 3 (a).

[2]Section 3 (b)

Omit the paragraph.

[3]Section 53 Making of rules

Insert after section 53 (2):

(2A)

A licensee is required to make the rules referred to in section 69.

[4]Section 69

Omit the section. Insert instead:

69Commission on totalizator betting(1)

A licensee may deduct, or cause to be deducted, as commission out of the total amount invested in each totalizator conducted by the licensee on one or more events or contingencies, an amount not exceeding the amount prescribed by the rules in respect of a totalizator of that class or description.

(2)

An amount prescribed by the rules for the purposes of subsection (1) must be expressed as a percentage of the total amount invested in the class or description of totalizator concerned, and must not exceed 25% of the total amount invested.

[5]Schedule 2 Savings, transitional and other provisions

Insert at the end of clause 1 (1):

Totalizator Amendment Act 2008

[6]Schedule 2, Part 5

Insert after Part 4:

Part 5Provision consequent on enactment of Totalizator Amendment Act 200820Removal of 16 per cent cap on commission

To the extent that the amendment made by Schedule 1 [4] to the Totalizator Amendment Act 2008 removes the 16 per cent cap on commission that a licensee may deduct each financial year from the total amount invested in totalizators conducted by the licensee in that year, the amendment is taken to have commenced on 1 July 2007.