For the purposes of section 114(1)(a) of the Act, the minimum amount for a corporate society that is a licence holder, for each of its financial years, is an amount equivalent to 40% of the specified amount.

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 2 September 2016, amend the Gambling (Class 4 Net Proceeds) Regulations 2004 (the principal regulations).

Regulation 4 replaces regulation 10(1) of the principal regulations with new regulation 10(1). This sets the minimum amount to be applied to or distributed for authorised purposes each financial year at 40% of the licence holder’s gross proceeds, exclusive of goods and services tax.

Regulatory impact statement

The Department of Internal Affairs produced a regulatory impact statement on 7 April 2016 to help inform the decisions taken by the Government relating to the contents of this instrument.

A copy of this regulatory impact statement can be found at https://www.dia.govt.nz/diawebsite.nsf/Files/RIS_Gambling/$file/RIS_Min-RoR_7-April-2016.docx

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 16 June 2016.

These regulations are administered by the Department of Internal Affairs.

Gambling (Class 4 Net Proceeds) Amendment Regulations 2016