Plain language law

New Zealand law explained for everyone

Gambling Act 2003

Gambling - Licensed promoters of class 3 gambling - Bond

196: When bond must be paid to Secretary

You could also call this:

"When you must pay the bond money to the government if you break the gambling rules."

Illustration for Gambling Act 2003

The Secretary can ask for the bond to be paid right away if you do certain things wrong. You must pay the bond if you fail to meet a financial commitment to the society that hired you, or if you fail to pay prizes to winners of class 3 gambling that you promoted. You must also pay the bond if you break the rules of being a licensed promoter under the Gambling Act 2003 or your licence.

If the Secretary asks for the bond, they must send a copy of the request to you. This is so you know what is happening with the bond.

The Secretary will put the bond money into a special bank account that is used to manage bonds.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM209379.

Topics:
Money and consumer rights > GamblingCrime and justice > Criminal law
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195: Applicant must provide bond given by approved surety, or

"You must provide a guarantee from an approved person when applying for a licence to promote gambling."

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197: Secretary may appoint administrator, or

"The Government can appoint someone to manage special payments and claims."

Part 2Gambling
Licensed promoters of class 3 gambling: Bond

196When bond must be paid to Secretary

  1. The Secretary may demand immediate payment of the bond, and the approved surety must satisfy that demand, if the licensed promoter does 1 or more of the following:

  2. fails to meet a financial commitment to the society that engaged the licensed promoter:
    1. fails to pay prizes to winners of class 3 gambling promoted by the licensed promoter:
      1. breaches the obligations of a licensed promoter under this Act or the licensed promoter’s licence.

        1. A copy of the demand must be sent to the licensed promoter.

        2. The Secretary must pay the bond received under subsection (1) into a bank account established to administer bonds.