This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 4 September 2014, amend the Gambling (Class 4 Net Proceeds) Regulations 2004 (the principal regulations).
Regulation 4 inserts into the principal regulations new regulation 10, which increases the minimum amount to be applied to or distributed for authorised purposes each financial year. The current minimum amount is 37.12% of the licence holder’s gross proceeds for a financial year, exclusive of goods and services tax. This percentage will continue to apply to a financial year underway before 4 September 2014. Increases to this percentage will be staggered over the first 5 financial years that start after 3 September 2014. The percentage will increase to 40% for the first and second financial years, to 41% for the third and fourth financial years, and to 42% for the fifth financial year and all later financial years.
Regulation 5 amends regulation 17 of the principal regulations, which specifies minimum requirements for a grant application form. The amendment ensures declarations in the form need not be verified by way of a statutory declaration and are sufficient if signed by 2 representatives of the applicant (if the applicant is not a natural person) or the applicant (if the applicant is a natural person).
Date of notification in Gazette: 7 August 2014.
These regulations are administered by the Department of Internal Affairs.