45Maintenance of prizes comprising real property

45 Maintenance of prizes comprising real property

45 Maintenance of prizes comprising real property

The following requirements apply to a real property prize in a gaming activity before the prize is transferred or conveyed to the prize winner—

(a) improvements erected on the property are to be maintained,

(b) the property and improvements erected on the property are to be insured for their full market value against loss or damage,

(c) all expenses accrued before the transfer in relation to the property have been paid,

(d) all legal requirements relating to the property and the transfer of the property have been complied with.