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Betting (Control) (Amendment) Act 2001

Assent: 29 June 2001
Commencement: 1 July 2001

REPUBLIC OF VANUATU

BETTING CONTROL (AMENDMENT) ACT

NO. 2 OF 2001

Arrangement of Sections

1. Amendments
2. Commencement

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REPUBLIC OF VANUATU

BETTING CONTROL (AMENDMENT) ACT

NO. 2 OF 2001

An act to amend the Betting (Control) Act No. 1 of 1993

Be it enacted by the President and Parliament as follows-

1 Amendments

The Betting (Control) Act No. 1 of 1993 Act is amended as set out in the Schedule.

2 Commencement

This Act commences on 1 July 2001.

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SCHEDULE

AMENDMENTS OF THE BETTING (CONTROL) ACT NO. 1 OF 1993

1. Subsection 20(2)

Delete "ten percent", substitute "20 percent".

2. After section 32

Insert

"33 Commission on net turnover

(1) Each permit holder must deduct as commission payable to the Government out of moneys received by the permit holder in respect of each prescribed betting event an amount equal to 15 percent of net turnover.

(2) The permit holder must pay the amount deducted as commission to the Government Revenue Fund within 14 days after each prescribed betting event is held.

(3) In this section,

bettors means the persons who make bets with a permit holder.

net turnover, in relation to a prescribed betting event, means the total of the amounts paid to a permit holder by bettors in respect of the prescribed betting event less the total of the following amounts paid by the permit holder:

(a) amounts paid to bettors as winnings in respect of the prescribed betting event;

(b) amounts paid to bettors or any other person by way of a refund on account of non-operative bets due to:

(i) the abandonment or postponement of the prescribed betting event; or

(ii) the scratching or withdrawal from the prescribed betting event of any runner or participant on which a bet has been made.".

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REPUBLIC OF VANUATU

BETTING CONTROL (AMENDMENT) ACT

NO. 2 OF 2001

Explanatory Note

The Bill amends the Betting (Control) Act No. 1 of 1993 to increase from 10% to 20% the tax payable on the commission retained by the holders of totalizator operator’s licences.

It also reintroduces section 33 to provide for bookmakers to pay the Government 15% of net turnover from betting.

The amendments commence on 1 July 2001.

Honourable Joe Carlo
Minister of Finance and Economic Management

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