(1)  The Commission must not grant the second totalizator endorsement to any person except with the written approval of the Treasurer.

(2)  Despite section 76Z , a Tasmanian gaming licence endorsed with the second totalizator endorsement –

(a) has effect for a period of 50 years commencing on the day on which the endorsement takes effect; and

(b) is, after that 50-year period, renewable for a further period of 49 years under and in accordance with section 76ZC .

(3)  However, the following provisions apply to a Tasmanian gaming licence endorsed with the second totalizator endorsement:

(a) if the endorsement ceases for any reason to have effect before the nominal term of the licence expires, the licence continues in effect after that cessation (but without the endorsement) only for the remaining balance, if any, of the nominal term;

(b) if the endorsement ceases for any reason to have effect after (or precisely when) the nominal term of the licence expires, the licence continues in effect after that cessation (but without the endorsement) only for a period of 6 months.

(4)  Nothing in subsection (3) limits the operation of section 76ZC .

(5)  The holder of a Tasmanian gaming licence endorsed with the second totalizator endorsement is not, in respect of anything done under that licence as regards that endorsement, subject to section 86 or Part 7 of the Racing Regulation Act 2004 .

(6)  In this section –

nominal term , of a Tasmanian gaming licence endorsed with the second totalizator endorsement, means the 5-year period commencing on the day on which that licence takes effect.