15Partial refund of licence fee on surrender of gaming endorsement

15 Partial refund of licence fee on surrender of gaming endorsement

(1)  For section 76ZI(4)(c) of the Act, the proportional refund of the relevant part of the licence fee is to be calculated in accordance with the following formula:

where –

A is the amount of the refund to be calculated;

NR is the amount of the nominal proportional refund (being the refund that the licensed provider would be given under section 76ZI(2A) of the Act if, on the day on which the gaming endorsement is surrendered (the "day of surrender"), the Tasmanian gaming licence itself were being surrendered, rather than that gaming endorsement);

NF is the amount of the nominal residual licence fee (being the fee that, under section 148A of the Act, would be payable in respect of the Tasmanian gaming licence for the relevant financial year if it were issued, with its remaining gaming endorsements, on the day of surrender).

(2)  In this regulation, relevant part has the same meaning as in section 76ZI of the Act.