105 Interest, etc, on gaming machine profits

(1)

The holder of a class 4 operator’s licence must ensure that the interest or other investment return on the gaming machine profits referred to in section 104, plus any gain above the book value from the sale of gambling assets, is credited directly to or banked directly into (as the case may be) a dedicated account for gaming machine profits in the name of the holder of the class 4 operator’s licence at a registered bank in New Zealand.

(2)

The interest, investment return, or proceeds must be banked within the time frame specified in regulations made under section 371 or, if no time frame is specified, as soon as reasonably practicable.

(3)

[Repealed]

(4)

A holder of a class 4 operator’s licence who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $5,000.

Section 105(1): replaced, on 3 March 2015, by section 61(1) of the Gambling Amendment Act 2015 (2015 No 3).

Section 105(3): repealed, on 3 March 2015, by section 61(2) of the Gambling Amendment Act 2015 (2015 No 3).

Section 105(4): amended, on 1 July 2013, by section 413 of the Criminal Procedure Act 2011 (2011 No 81).