Totalizator (Off-course Betting) Further Amendment Act 1991 (NSW)

TOTALIZATOR (OFF-COURSE BETTING) FURTHER

AMENDMENT ACT 1991 No. 97

NEW SOUTH WALES

TABLE OF PROVISIONS

1. Short title

2. Commencement

3. Amendment of Totalizator (Off-course Betting) Act 1964 No. 1

SCHEDULE 1—AMENDMENTS

TOTALIZATOR (OFF-COURSE BETTING) FURTHER

AMENDMENT ACT 1991 No. 97

NEW SOUTH WALES

Act No. 97, 1991

An Act to amend the Totalizator (Off-course Betting) Act 1964 for the purpose of enabling the Totalizator Agency Board to receive investments placed with authorities in overseas countries and to retain 50% of profits from its commercial undertakings. [Assented to 17 December 1991]

2  Act No. 97

Totalizator (Off-Course Betting) Further Amendment 1991

The Legislature of New South Wales enacts:

Short title

1.        This Act may be cited as the Totalizator (Off-course Betting)

Further Amendment Act 1991.

Commencement

2. This Act commences on the date of assent.

Amendment of Totalizator (Off-course Betting) Act 1964 No. 1

3. The Totalizator (Off-course Betting) Act 1964 is amended as set out

in Schedule 1.

SCHEDULE l—AMENDMENTS

(Sec. 3)

(1) Section 12 (Conduct of off-course totalizators):

After “Commonwealth” in section 12 (5), insert “, or in any place outside Australia,''-

(2) Section 16B (Ancillary commercial undertakings by the

Board):

Omit section 16B (3), insert instead:

(3) The arrangements for any commercial undertaking

under subsection are to be approved by the Treasurer and provide for any profits from the undertaking to be dealt with as follows:

• 50 per cent of any such profits are to be paid into the

Consolidated Fund;

• 50 per cent of any such profits are to be retained by the

Board.

[Minister's second reading speech made in—

Legislative Assembly on 14 November 1991 Legislative Council on 10 December 1991]