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Gambling Act 2003

Gambling - Licensed promoters of class 3 gambling - Trust account

213: Licensed promoter must render account to society

You could also call this:

"Licensed promoters must report back to the society on how they used the society's money."

Illustration for Gambling Act 2003

If you are a licensed promoter, you must give the society a full account of the money you have received on their behalf. This account must include how you used the money and any amounts that still need to be used. You must give the society this account within 7 days if they ask for it, or within 28 days if you stop working for the society.

You can use money from the trust account to pay for things you have already accounted for, as long as your agreement with the society and the Gambling Act 2003 allow it. You must pay all the money you are holding in the trust account for the society to the society within 7 days if they ask for it, or within 28 days if you stop working for the society.

If you do not follow these rules and you know you are not following them, you can be charged with an offence and fined up to $2,000. The Criminal Procedure Act 2011 made some changes to this rule, which started on 1 July 2013.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM209701.

Topics:
Money and consumer rights > GamblingCrime and justice > Criminal law
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212: Trust account must be audited, or

"Licensed promoters must have their trust accounts regularly checked by a qualified auditor."

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214: Surrender of licensed promoter’s licence, or

"Giving back a gambling promotion licence"

Part 2Gambling
Licensed promoters of class 3 gambling: Trust account

213Licensed promoter must render account to society

  1. A licensed promoter must render an account to the society that sets out, in full, particulars of—

  2. the money that has been received by the licensed promoter on behalf of the society; and
    1. how the money has been applied; and
      1. any outstanding amounts that remain to be applied.

        1. The account must be rendered—

        2. within 7 days of a request from the society to do so; or
          1. if no request has been made, within 28 days if the licensed promoter has ceased to act for the society.

            1. A licensed promoter who has rendered an account to a society that satisfies subsection (1) may appropriate money from the trust account to satisfy the account if the appropriation is permitted by the licensed promoter’s agreement with the society and by this Act.

            2. A licensed promoter must pay all money held in the trust account on behalf of the society to the society—

            3. within 7 days of a request from the society to do so; or
              1. if no request has been made, within 28 days if the licensed promoter has ceased to act for the society.

                1. A person who knowingly contravenes this section commits an offence and is liable on conviction to a fine not exceeding $2,000.

                Compare
                • 1977 No 84 s 57
                Notes
                • Section 213(5): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).