sec.347Financial connections and interests of restricted officials

### sec.347 Financial connections and interests of restricted officials A restricted official— must not knowingly have, directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a holder of a licence under this Act; or must not— be; or be an employee in any capacity of; or hold the position of executive officer or secretary of a body corporate which is; a holder of a licence under this Act. Maximum penalty—200 penalty units or 1 year’s imprisonment. A person who was a restricted official must not, for 1 year after ceasing to be a restricted official, without the commissioner’s approval— accept or solicit employment from a holder of a licence under this Act; or be an employee in any capacity of a holder of a licence under this Act; or knowingly have, directly or indirectly— a business or financial association with a holder of a licence under this Act; or a business or financial interest in something together with a holder of a licence under this Act. Maximum penalty—200 penalty units. A holder of a licence under this Act— must not knowingly have, directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a restricted official; or must not employ in any capacity a restricted official; or must not, without the approval of the commissioner, employ in any capacity or have a business or financial connection with a person who was a restricted official within a period of 1 year after that person ceases to be a restricted official. Maximum penalty—200 penalty units or 1 year’s imprisonment. A restricted official who has directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a person who becomes a holder of a licence under this Act or an applicant for a licence under this Act must, immediately upon becoming aware that the person has so become licensed or an applicant— notify the commissioner of such connection or interest; and if directed by the commissioner, terminate the connection or relinquish the interest within a time specified by the commissioner. Maximum penalty—200 penalty units or 1 year’s imprisonment. This section does not apply so as to prohibit a restricted official— from being a financial member of a category 2 licensee, or having another financial connection with a category 2 licensee of a kind that members of the licensee generally have; or from having any business or financial connection (being a connection that is not related to the manufacture, assembly, sale, supply, installation, alteration, obtaining, possession, adjustment, maintenance, repair or testing of gaming equipment) with a holder of a licence under this Act such as is generally had by members of the public. A restricted official must, immediately after applying for membership of a category 2 licensee, or of a club that is an applicant for a gaming machine licence, notify the commissioner of the making of the application. In subsections (4) , (5) and (6) — restricted official includes a person who has ceased to be a restricted official if less than 1 year has elapsed since the person ceased to be a restricted official. s 347 amd 1992 No. 35 sch; 1993 No. 63 s 2 sch ; 1999 No. 77 s 144 ; 2000 No. 51 s 20 sch ; 2008 No. 2 s 64 ; 2012 No. 25 s 109 (1) (sec.347-ssec.1) A restricted official— must not knowingly have, directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a holder of a licence under this Act; or must not— be; or be an employee in any capacity of; or hold the position of executive officer or secretary of a body corporate which is; a holder of a licence under this Act. Maximum penalty—200 penalty units or 1 year’s imprisonment. (sec.347-ssec.2) A person who was a restricted official must not, for 1 year after ceasing to be a restricted official, without the commissioner’s approval— accept or solicit employment from a holder of a licence under this Act; or be an employee in any capacity of a holder of a licence under this Act; or knowingly have, directly or indirectly— a business or financial association with a holder of a licence under this Act; or a business or financial interest in something together with a holder of a licence under this Act. Maximum penalty—200 penalty units. (sec.347-ssec.3) A holder of a licence under this Act— must not knowingly have, directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a restricted official; or must not employ in any capacity a restricted official; or must not, without the approval of the commissioner, employ in any capacity or have a business or financial connection with a person who was a restricted official within a period of 1 year after that person ceases to be a restricted official. Maximum penalty—200 penalty units or 1 year’s imprisonment. (sec.347-ssec.4) A restricted official who has directly or indirectly— any business or financial connection with; or any business or financial interest in any matter in conjunction with; a person who becomes a holder of a licence under this Act or an applicant for a licence under this Act must, immediately upon becoming aware that the person has so become licensed or an applicant— notify the commissioner of such connection or interest; and if directed by the commissioner, terminate the connection or relinquish the interest within a time specified by the commissioner. Maximum penalty—200 penalty units or 1 year’s imprisonment. (sec.347-ssec.5) This section does not apply so as to prohibit a restricted official— from being a financial member of a category 2 licensee, or having another financial connection with a category 2 licensee of a kind that members of the licensee generally have; or from having any business or financial connection (being a connection that is not related to the manufacture, assembly, sale, supply, installation, alteration, obtaining, possession, adjustment, maintenance, repair or testing of gaming equipment) with a holder of a licence under this Act such as is generally had by members of the public. (sec.347-ssec.6) A restricted official must, immediately after applying for membership of a category 2 licensee, or of a club that is an applicant for a gaming machine licence, notify the commissioner of the making of the application. (sec.347-ssec.7) In subsections (4) , (5) and (6) — restricted official includes a person who has ceased to be a restricted official if less than 1 year has elapsed since the person ceased to be a restricted official. - (a) must not knowingly have, directly or indirectly— (i) any business or financial connection with; or (ii) any business or financial interest in any matter in conjunction with; - (i) any business or financial connection with; or - (ii) any business or financial interest in any matter in conjunction with; - a holder of a licence under this Act; or - (b) must not— (i) be; or (ii) be an employee in any capacity of; or (iii) hold the position of executive officer or secretary of a body corporate which is; a holder of a licence under this Act. - (i) be; or - (ii) be an employee in any capacity of; or - (iii) hold the position of executive officer or secretary of a body corporate which is; - (i) any business or financial connection with; or - (ii) any business or financial interest in any matter in conjunction with; - (i) be; or - (ii) be an employee in any capacity of; or - (iii) hold the position of executive officer or secretary of a body corporate which is; - (a) accept or solicit employment from a holder of a licence under this Act; or - (b) be an employee in any capacity of a holder of a licence under this Act; or - (c) knowingly have, directly or indirectly— (i) a business or financial association with a holder of a licence under this Act; or (ii) a business or financial interest in something together with a holder of a licence under this Act. - (i) a business or financial association with a holder of a licence under this Act; or - (ii) a business or financial interest in something together with a holder of a licence under this Act. - (i) a business or financial association with a holder of a licence under this Act; or - (ii) a business or financial interest in something together with a holder of a licence under this Act. - (a) must not knowingly have, directly or indirectly— (i) any business or financial connection with; or (ii) any business or financial interest in any matter in conjunction with; - (i) any business or financial connection with; or - (ii) any business or financial interest in any matter in conjunction with; - a restricted official; or - (b) must not employ in any capacity a restricted official; or - (c) must not, without the approval of the commissioner, employ in any capacity or have a business or financial connection with a person who was a restricted official within a period of 1 year after that person ceases to be a restricted official. - (i) any business or financial connection with; or - (ii) any business or financial interest in any matter in conjunction with; - (a) any business or financial connection with; or - (b) any business or financial interest in any matter in conjunction with; - (c) notify the commissioner of such connection or interest; and - (d) if directed by the commissioner, terminate the connection or relinquish the interest within a time specified by the commissioner. - (a) from being a financial member of a category 2 licensee, or having another financial connection with a category 2 licensee of a kind that members of the licensee generally have; or - (b) from having any business or financial connection (being a connection that is not related to the manufacture, assembly, sale, supply, installation, alteration, obtaining, possession, adjustment, maintenance, repair or testing of gaming equipment) with a holder of a licence under this Act such as is generally had by members of the public.