196 When bond must be paid to Secretary


The Secretary may demand immediate payment of the bond, and the approved surety must satisfy that demand, if the licensed promoter does 1 or more of the following:


fails to meet a financial commitment to the society that engaged the licensed promoter:


fails to pay prizes to winners of class 3 gambling promoted by the licensed promoter:


breaches the obligations of a licensed promoter under this Act or the licensed promoter’s licence.


A copy of the demand must be sent to the licensed promoter.


The Secretary must pay the bond received under subsection (1) into a bank account established to administer bonds.