123Banking

123 Banking

(1) A casino operator must—

S. 123(1)(a) amended by Nos 11/2001 s. 3(Sch. item 10.6(a)(i)
(ii)), 114/2003 s. 12.1.2 (Sch. 5 item 116), 28/2022 s. 9.

(a) keep and maintain separate accounts, as approved by the Commission, at an ADI in the State for use for all banking transactions arising under this Act in relation to the operator; and

S. 123(1)(b) amended by Nos 11/2001 s. 3(Sch. item 10.6(b)), 114/2003 s. 12.1.2 (Sch. 5 item 116), 28/2022 s. 9.

(b) from time to time provide the Commission, as required, and in a form approved by the Commission, with a written authority addressed to the ADI referred to in paragraph (a) authorising the ADI to comply with any requirements of an inspector exercising the powers conferred by this section.

S. 123(2) amended by Nos 11/2001 s. 3(Sch. item 10.7), 28/2022 s. 9, 42/2022 s. 44(1).

(2) An inspector may, by notice in writing, require the manager or other principal officer of an ADI referred to in subsection (1) to provide the inspector with a statement of an account referred to in that subsection and such other particulars relating to the account as may be specified in the notice.

(3) A person to whom a notice is given under subsection (2), must comply with the notice.

S. 123(3A) inserted by No. 42/2022 s. 44(2), substituted by No. 40/2025 s. 17(1).

(3A) A casino operator must not accept a deposit of funds into a deposit account in any form other than a form specified in section 68(3)(a) to (e).

S. 123(3B) inserted by No. 42/2022 s. 44(2), amended by No. 40/2025 s. 17(2).

(3B) If funds in a form other than a form specified in section 68(3)(a) to (e) are deposited into a deposit account by a casino operator, the operator must as soon as practicable remit those funds to the person from whom they were received.

S. 123(4) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 116).

(4) An inspector may not exercise the powers conferred by this section without the prior written approval of the Commission.

S. 123(5) inserted by No. 114/2003 s. 12.1.2 (Sch. 5 item 117).

S. 124 substituted by No. 42/2022 s. 45.