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TOTALIZATOR LEGISLATION (AMENDMENT) BILL 1993
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 Act 1916 and the Totalizator
(Off-course) Betting Act 1964 to provide that the amount of commission resulting from
the operation of certain totalizators, and which is paid into the Racecourse Development
Fund or the Racing Assistance Fund, is to be paid instead into the Consolidated Fund to
be subsequently appropriated to the credit of those funds. The Bill only affects the
manner in which the commission is accounted through the Consolidated Fund and does
not, in respect of commission payable into the Racecourse Development Fund, alter an
existing arrangement for it to be paid into the Consolidated Fund.
Clause 1 specifies the short title of the proposed Act.
Clause 2 provides that the proposed Act is to commence on 1 July 1993.
Clause 3 gives effect to the Schedule of amendments to the Totalizator Act 1916.
Clause 4 gives effect to the Schedule of amendments to the Totalizator (Off-course
Betting) Act 1964.
At present under the Totalizator Act 1916 and the Totalizator (Off-course Betting)
Act 1964, a percentage of the commission payable on doubles, superfecta and multiple
selection totalizators must be credited to the Racecourse Development Fund or to the
Racing Assistance Fund, depending on the type of totalizator. A transitional
arrangement under both Acts currently provides, however, that any such commission on
doubles and multiple selection totalizators payable into the Racecourse Development
Fund in respect of events or contingencies occurring between 1 July 1992 and 1 July
1997 must be paid instead into the Consolidated Fund.
Totalizator Legislation (Amendment) 1993 [Act 1993 No. 58]
Schedule 1 amends the Totalizator Act 1916, and Schedule 2 amends the Totalizator
(Off-course Betting) Act 1964:
(a) to provide, as from 1 July 1993, for the percentage of commission payable on
superfecta totalizators (which is currently credited to the Racing Assistance
Fund) to be separately credited to the Consolidated Fund and for an amount
equal to that commission to be appropriated out of the Consolidated Fund into
the Racing Assistance Fund; and
(b) to restate the existing transitional arrangement described above in respect of
commission credited to the Racecourse Development Fund. The new provisions
require the relevant commission to be separately credited to the Consolidated
Fund and provide for the payment out of that Fund into the Racecourse
Development Fund, in the year commencing 1 July 1997 and in each
succeeding year, of an amount equal to the commission credited to the
Consolidated Fund in respect of events or contingencies occurring on or after 1
July 1997.