sec.47Monthly gaming deposit

sec.47 Monthly gaming deposit

A licensee of category 2 licensed premises must calculate the monthly gaming deposit for each accounting period. Maximum penalty—20 penalty units. The licensee may calculate the monthly gaming deposit under either the standard method or the win method. However, the commissioner may direct a licensee who has incorrectly calculated a monthly gaming deposit under the win method to calculate monthly gaming deposits under the standard method. Under the standard method, the amount of the monthly gaming deposit is calculated using the formula— Under the win method, the amount of the monthly gaming deposit is calculated using the formula— In this section— D means the monthly gaming deposit in dollars. MGC means the total monetary amount of cancelled credits and jackpot payouts made by cheque drawn on a licensee’s monthly deposit account for an accounting period. NMP , for an accounting period for a licensee, means the total monetary amount of all cancelled credits, hand-paid jackpot payouts, hopper fills and short pay correction payouts recorded in the monthly gaming machine reconciliation report for the accounting period for the licensee’s licensed premises that were not made by cheque drawn on the licensee’s monthly deposit account. RW means the reported win for the relevant accounting period. TC , for an accounting period for a licensee, means the total monetary amount of gaming tokens recorded in the monthly gaming machine reconciliation report for the accounting period for the licensee’s licensed premises as being removed during money clearances. s 47 amd 2012 SL No. 248 s 11 (sec.47-ssec.1) A licensee of category 2 licensed premises must calculate the monthly gaming deposit for each accounting period. Maximum penalty—20 penalty units. (sec.47-ssec.2) The licensee may calculate the monthly gaming deposit under either the standard method or the win method. (sec.47-ssec.3) However, the commissioner may direct a licensee who has incorrectly calculated a monthly gaming deposit under the win method to calculate monthly gaming deposits under the standard method. (sec.47-ssec.4) Under the standard method, the amount of the monthly gaming deposit is calculated using the formula— (sec.47-ssec.5) Under the win method, the amount of the monthly gaming deposit is calculated using the formula— (sec.47-ssec.6) In this section— D means the monthly gaming deposit in dollars. MGC means the total monetary amount of cancelled credits and jackpot payouts made by cheque drawn on a licensee’s monthly deposit account for an accounting period. NMP , for an accounting period for a licensee, means the total monetary amount of all cancelled credits, hand-paid jackpot payouts, hopper fills and short pay correction payouts recorded in the monthly gaming machine reconciliation report for the accounting period for the licensee’s licensed premises that were not made by cheque drawn on the licensee’s monthly deposit account. RW means the reported win for the relevant accounting period. TC , for an accounting period for a licensee, means the total monetary amount of gaming tokens recorded in the monthly gaming machine reconciliation report for the accounting period for the licensee’s licensed premises as being removed during money clearances.