53A Continuing obligations of class 4 operator

Every corporate society that holds a class 4 operator’s licence must, in relation to class 4 gambling conducted by the corporate society, ensure that, at all times,—

(a)

the purpose of conducting that gambling is to raise money for authorised purposes; and

(b)

the net proceeds from that gambling are maximised and the operating costs of that gambling are minimised; and

(c)

the costs incurred in conducting that gambling are actual, reasonable, and necessary; and

(d)

the net proceeds from that gambling are applied to, or distributed for, authorised purposes; and

(e)

the risks of problem gambling posed by that gambling are minimised; and

(f)

all applicable regulatory requirements are complied with.

Section 53A: inserted, on 3 March 2015, by section 31 of the Gambling Amendment Act 2015 (2015 No 3).