196 When bond must be paid to Secretary

(1)

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:

(a)

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

(b)

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

(c)

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

(2)

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

(3)

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