Net proceeds and costs of class 4 gambling

104 Gaming machine profits must be banked

(1)

A venue manager must bank all gaming machine profits from class 4 gambling into a dedicated account for gaming machine profits specified by, and in the name of, the holder of the class 4 operator’s licence at a registered bank in New Zealand.

(2)

The venue manager must bank the gaming machine profits within the time frame specified in regulations made under section 371 or, if no time frame is specified, as soon as reasonably practicable.

(3)

If a venue manager contravenes subsection (1) or (2), the holder of the class 4 operator’s licence—

(a)

must advise the Secretary of the contravention as soon as possible after becoming aware of the contravention; and

(b)

must immediately—

(i)

take steps to disable all gaming machines at the class 4 venue and advise the Secretary of the disablement; or

(ii)

request the Secretary to disable all gaming machines at the class 4 venue by means of the electronic monitoring system; and

(c)

must not subsequently enable, or if paragraph (b)(ii) applies, request the Secretary to enable, the gaming machines at the class 4 venue until the gaming machine profits have been banked in accordance with subsection (1).

(4)

A person who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $5,000.

(5)

In this section and sections 105 and 105A, gaming machine profits means the turnover of class 4 gambling minus the total prizes paid.

Section 104(1): replaced, on 3 March 2015, by section 60(1) of the Gambling Amendment Act 2015 (2015 No 3).

Section 104(1): amended, on 21 October 2015, by section 20 of the Gambling Amendment Act (No 2) 2015 (2015 No 90).

Section 104(2): amended, on 3 March 2015, by section 60(2) of the Gambling Amendment Act 2015 (2015 No 3).

Section 104(2): time frame specified as within 5 working days beginning on the day that the profits are, or ought to be, calculated, on 6 April 2006, by regulation 4 of the Gambling (Class 4 Banking) Regulations 2006 (SR 2006/40).

Section 104(3): replaced, on 3 March 2015, by section 60(3) of the Gambling Amendment Act 2015 (2015 No 3).

Section 104(4): amended, on 3 March 2015, by section 60(4) of the Gambling Amendment Act 2015 (2015 No 3).

Section 104(4): amended, on 1 July 2013, by section 413 of the Criminal Procedure Act 2011 (2011 No 81).

Section 104(5): replaced, on 3 March 2015, by section 60(5) of the Gambling Amendment Act 2015 (2015 No 3).