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Gambling Act 2003

Gambling - Licensing of class 4 gambling - Net proceeds and costs of class 4 gambling

104: Gaming machine profits must be banked

You could also call this:

"Money from gaming machines must go into a special bank account."

Illustration for Gambling Act 2003

When you are in charge of a venue with gaming machines, you must put the profits from these machines into a special bank account. This account is in the name of the person who has the licence to operate the gaming machines, and it is at a registered bank in New Zealand. You have to do this within the time frame specified in the regulations made under section 371, or as soon as you reasonably can.

If you do not put the profits into the bank account, the person who has the licence must tell the Secretary about this as soon as possible. They must also stop the gaming machines from being used right away, either by disabling them or by asking the Secretary to do this using the electronic monitoring system. The gaming machines cannot be used again until the profits have been put into the bank account.

If you break this rule, you can be fined up to $5,000. In this case, gaming machine profits mean the total amount of money from the gaming machines minus the prizes that have been paid out, as explained in sections 105 and 105A.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM208664.

Topics:
Money and consumer rights > GamblingCrime and justice > Criminal law
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"Territorial authorities get information about gaming venues in their area"

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105: Interest, etc, on gaming machine profits, or

"Putting gaming machine profit interest into a special bank account"

Part 2Gambling
Licensing of class 4 gambling: Net proceeds and costs of class 4 gambling

104Gaming machine profits must be banked

  1. A venue manager must bank all gaming machine profits from class 4 gambling into a dedicated account for gaming machine profits specified by, and in the name of, the holder of the class 4 operator’s licence at a registered bank in New Zealand.

  2. The venue manager must bank the gaming machine profits within the time frame specified in regulations made under section 371 or, if no time frame is specified, as soon as reasonably practicable.

  3. If a venue manager contravenes subsection (1) or (2), the holder of the class 4 operator’s licence—

  4. must advise the Secretary of the contravention as soon as possible after becoming aware of the contravention; and
    1. must immediately—
      1. take steps to disable all gaming machines at the class 4 venue and advise the Secretary of the disablement; or
        1. request the Secretary to disable all gaming machines at the class 4 venue by means of the electronic monitoring system; and
        2. must not subsequently enable, or if paragraph (b)(ii) applies, request the Secretary to enable, the gaming machines at the class 4 venue until the gaming machine profits have been banked in accordance with subsection (1).

          1. A person who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $5,000.

          2. In this section and sections 105 and 105A, gaming machine profits means the turnover of class 4 gambling minus the total prizes paid.

          Notes
          • Section 104(1): replaced, on , by section 60(1) of the Gambling Amendment Act 2015 (2015 No 3).
          • Section 104(1): amended, on , by section 20 of the Gambling Amendment Act (No 2) 2015 (2015 No 90).
          • Section 104(2): amended, on , by section 60(2) of the Gambling Amendment Act 2015 (2015 No 3).
          • Section 104(2): time frame specified as within 5 working days beginning on the day that the profits are, or ought to be, calculated, on , by regulation 4 of the Gambling (Class 4 Banking) Regulations 2006 (SR 2006/40).
          • Section 104(3): replaced, on , by section 60(3) of the Gambling Amendment Act 2015 (2015 No 3).
          • Section 104(4): amended, on , by section 60(4) of the Gambling Amendment Act 2015 (2015 No 3).
          • Section 104(4): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).
          • Section 104(5): replaced, on , by section 60(5) of the Gambling Amendment Act 2015 (2015 No 3).