Racing (Totalizator Betting) Amendment Regulations 2007
I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Racing (Totalizator Betting) Act 1952 .
23 April 2007W. J. E. COX
Governor
By His Excellency's Command,
MICHAEL AIRD
Treasurer
These regulations may be cited as the Racing (Totalizator Betting) Amendment Regulations 2007 .
These regulations take effect on the day on which their making is notified in the Gazette.
In these regulations, the Racing (Totalizator Betting) Regulations 1976 are referred to as the Principal Regulations.
After regulation 122R of the Principal Regulations, the following Part is inserted:PART IVB - International Totalizator Betting Pools122S. Prescribed commission – section 57FA(3) of Act
(1) For section 57FA(3) of the Act, the prescribed percentage in respect of TOTE Tasmania's total receipts for any class of totalizator betting under an international pooling agreement with AB Trav och Galopp (ATG) is 35%.(2) In this regulation –AB Trav och Galopp (ATG) means the company of that name incorporated in Sweden (Swedish business ID 556180-4161);international pooling agreement means an agreement entered into under section 57FA(1) of the Act.
Displayed and numbered in accordance with the Rules Publication Act 1953.
Notified in the Gazette on 2 May 2007
These regulations are administered in the Department of Treasury and Finance.
EXPLANATORY NOTE
(This note is not part of the regulation)
These regulations amend the Racing (Totalizator Betting) Regulations 1976 by prescribing 35% as the maximum rate of commission that TOTE Tasmania may be authorised to deduct from its total receipts, for any class of totalizator betting, under a totalizator pooling agreement with its Swedish equivalent: AB Trav och Galopp (ATG).