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Explanatory note
This explanatory note relates to this Bill as introduced into Parliament.
Section 12 of the Act enables the Board to enter into arrangements or
agreements with any authority conducting off-course totalizator betting in
another State or Territory, or in a place outside Australia, for the purpose of
enabling amounts received by the authority from investors to be paid into a
totalizator used by the Board.
At present, agreements with authorities of Queensland and the Australian
Capital Territory are renewable annually, and an agreement with an authority
of Western Australia may be terminated on 28 days' notice, whereas an
agreement has been entered into with an authority of the Northern Territory
for a term of 10 years.
Outline of provisions
Clause 1 specifies the name (also called the short title) of the proposed Act.
Clause 2 provides for the proposed Act to commence on a date to be
appointed by proclamation of the Governor.
Clause 3 is a formal provision giving effect to the Schedule of amendments.
Clause 4 provides that the amendments made by the proposed Act apply to
existing arrangements and agreements as well as to future arrangements and
agreements.
Schedule 1 [ l ] amends section 12 of the Act to require that arrangements or
agreements of the kind described above, or renewals of such arrangements or
agreements, must be for a term not exceeding 12 months.
Schedule l [2] inserts provisions into section 12 of the Act prohibiting the
Board from fulfilling its obligations under arrangements or agreements that
contravene the 12 month limitation mentioned above. The prohibition takes
effect at the end of the period of 12 months, or the period of 6 months after
the commencement of the proposed Act, whichever is the later.
Explanatory note page 2