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TOTALIZATOR (OFF-COURSE BETTING) FURTHER
AMENDMENT BILL 1991
NEW SOUTH WALES
EXPLANATORY NOTE
(This Explanatory Note relates to this Bill as introduced into Parliament)
The object of this Bill is to amend the Totalizator (Off-course Betting) Act 1964:
(a) to enable the Totalizator Agency Board ("the Board") to receive investments
placed with authorities in overseas countries and for the payment of such
investments into totalizators used by the Board, and
(b) to provide that profits from commercial undertakings of the Board are to be
shared between the Board and the Consolidated Fund on a 50/50 basis.
Clause 1 specifies the short title of the proposed Act.
Clause 2 provides that the proposed Act commences on the date of assent.
Clause 3 gives effect to the Schedule of amendments to the Totalizator (Off-course
Betting) Act 1964.
Schedule 1 (1) amends section 12 in the manner described in paragraph (a) above. At
present, the Board may enter into arrangements or agreements with any authority
conducting off-course totalizator betting in another State or m a Territory of the
Commonwealth for the purpose of enabling amounts received by that authority from
investors to be paid into a totalizator used by the Board. The proposed amendment will
enable the Board to also enter into arrangements or agreements with an authority
conducting off-course totalizator betting in another country for such a purpose. The
arrangements or agreements entered into between the Board and overseas authorities
will require the approval of the Minister and will be subject to such terms and
conditions as the Minister may approve.
At present, the Board may (with the approval of the Governor) use facilities that are not
fully utilised in its betting operations for commercial undertakings. The arrangements
for any commercial undertaking must provide for the payment of any profits from the
undertaking into the Consolidated Fund. The proposed amendment provides instead for
any such profits to be shared on a 50/50 basis between the Board and the Consolidated
Fund.