Part 5Financial matters

Part 5—Financial matters Division 1—Accounts and audit 48—Accounts and audit (1) The licensee must keep proper financial accounts in relation to the operation of the casino. (3) The licensee must have the accounts periodically audited as required under the conditions of the licence by a registered company auditor. (4) The licensee must, on the request of the Treasurer or the Commissioner and within the time specified in the request, provide to the Treasurer or Commissioner (as the case may be) a copy of the audited accounts in relation to the operation of the licensed business. 50—Duty of auditor (1) The auditor of accounts that the licensee is required to keep either under this Division or the Corporations Act 2001 of the Commonwealth must— (a) notify the Commissioner of any suspected irregularity in the accounts or in the licensee's financial affairs; and (b) must, on the written request of the Commissioner, provide the Commissioner with information specified in the request (in a manner and form specified in the request) about the accounts or the licensee's financial affairs. (2) A communication under subsection (1) is absolutely privileged. (3) The Commissioner must keep information obtained under this section confidential, subject to the following exceptions: (a) the Commissioner may, on the written request of the Minister or the Treasurer, divulge information obtained under this section to the Minister or the Treasurer (as the case may be); (b) the Commissioner may divulge information obtained under this section as otherwise authorised by law. Division 2—Casino duty 51—Liability to casino duty (1) The licensee must pay casino duty (and interest and penalties for late payment or non‑payment of casino duty) in accordance with the casino duty agreement. (2) In the absence of an agreement between the licensee and the Treasurer, the licensee must pay casino duty (and interest and penalties for late payment or non-payment of casino duty) on a basis fixed under the regulations. (3) The Treasurer must pay duty (and interest and penalties) received from the licensee into the Consolidated Account. (4) Casino duty (and interest and penalties) may be recovered as a debt due to the State. 52—Evasion and underpayment of casino duty (1) The licensee must not— (a) attempt to evade the payment of casino duty; or (b) make a false or misleading statement or return relevant to the amount of casino duty payable knowing it to be false or misleading. Maximum penalty: $50 million. (2) If the licensee contravenes subsection (1) or there is otherwise an underpayment of casino duty, the Treasurer may make an estimate of the duty that should have been paid and make a reassessment of duty on the basis of the estimate. (3) Duty may be recovered on the basis of the reassessment as a debt due to the State. 52AA—Investigatory powers relating to casino duty (1) It is a condition of the casino licence that the licensee must, on the written request of the Treasurer, provide information within the time specified in the request about any matter relevant to the payment of casino duty or the casino duty agreement. (2) An authorised officer may, for a purpose related to the payment of casino duty or the casino duty agreement— (a) enter and remain on premises; and (b) require any person on the premises to answer questions or otherwise furnish information; and (c) require any person on the premises to produce any instrument or record in the person's custody or control (including a written record that reproduces in an understandable form information stored by computer, microfilm or other means or process); and (d) require the owner or occupier of the premises to provide the authorised officer with such assistance and facilities as is or are reasonably necessary to enable the authorised officer to exercise powers under this Division; and (e) seize and remove any instrument or record on behalf of the Treasurer. (3) Entry may be made at any reasonable time. (4) An authorised officer must, at the request of a person in relation to whom the authorised officer intends to exercise any powers under this section, produce the officer's identity card for the inspection of the person. (5) A person who— (a) hinders or obstructs an authorised officer in the exercise of a power under this section; or (b) without reasonable excuse, refuses or fails to comply with a requirement of an authorised officer under this section, is guilty of an offence. Maximum penalty: $1 million. (6) A person is not guilty of an offence under this section arising from the entry of an authorised officer onto premises unless it is established that, at the material time, the authorised officer— (a) identified himself or herself as an authorised officer; and (b) warned the person that a refusal or failure to comply with the requirement constituted an offence. (7) In this section— authorised officer means an authorised officer under the Taxation Administration Act 1996. Division 3—Recovery of administration costs 52A—Commissioner to recover administration costs (1) The Commissioner must, not less than 1 month before the commencement of each financial year, notify the licensee in writing of the amount fixed by the Minister as the recoverable administration costs for that financial year. (2) If, during the course of the financial year, the Minister varies the amount fixed as the recoverable administration costs for the financial year, the Commissioner must notify the licensee in writing of the variation, specifying the amount fixed as the revised recoverable administration costs for that financial year. (3) Subject to subsection (4), the licensee must, in each month of the financial year, pay to the Commissioner one‑twelfth of the amount of the recoverable administration costs for that financial year. (4) If a notice is given to the licensee under subsection (2), the licensee must, in each month of the financial year following that notice, pay to the Commissioner an amount equal to the revised recoverable administration costs specified in the notice less the total of the payments that have fallen due under this section in the financial year, divided by the number of payments yet to fall due under this section in the financial year. (5) If the whole or a part of an amount payable by the licensee is not paid to the Commissioner as required, the amount unpaid may be recovered from the licensee as a debt due to the State. (6) In proceedings for recovery of an amount unpaid, the Commissioner's certificate is to be regarded as conclusive evidence of the recoverable administration costs or revised recoverable administration costs for the period specified in the certificate. (7) In this section— administration costs means the costs of administering this Act arising out of, or in connection with, the carrying out of the Commissioner's administrative and regulatory functions in respect of the licensee.