sec.48Periodic gaming deposits

sec.48 Periodic gaming deposits

A category 2 licensee must, for each clearance period, make a deposit (a periodic gaming deposit ) into an account (the monthly deposit account ) kept by the licensee for the purpose at a financial institution. Maximum penalty—20 penalty units. The periodic gaming deposit must be made within— if no period is decided under paragraph (b) —2 business days after the end of the clearance period; or a period, more than 2 days after the end of the clearance period, decided by the commissioner. The commissioner may decide a period under subsection (2) (b) for a particular licensee only if the commissioner considers it is appropriate to make the decision having regard to— the remote location of the licensee’s licensed premises; or the lack of appropriate facilities, near the licensee’s licensed premises, for making periodic gaming deposits; or another circumstance the commissioner considers is relevant to the licensee’s ability to make the periodic gaming deposit within the period mentioned in subsection (2) (a) . The licensee must keep a float to enable the periodic gaming deposit to be made. Maximum penalty—20 penalty units. The licensee must not withdraw funds deposited into the monthly deposit account and redeposit the funds into the account to make a periodic gaming deposit. Maximum penalty—20 penalty units. The licensee may calculate the periodic gaming deposit under either the standard periodic method or the win periodic method. However, the commissioner may direct a licensee who has incorrectly calculated a periodic gaming deposit under the win periodic method to calculate periodic gaming deposits under the standard periodic method. Under the standard periodic method, the amount of the periodic gaming deposit is calculated using the formula— Under the win periodic method, the amount of the periodic gaming deposit is calculated using the formula— In this section— D means the periodic gaming deposit in dollars. NMP , for a clearance 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 all gaming machine performance records for the clearance period for the licensee’s licensed premises that were not made by cheque drawn on the licensee’s monthly deposit account. PGC , for a clearance period for a licensee, means the total monetary amount of cancelled credits and hand-paid jackpot payouts made by cheque drawn on the licensee’s monthly deposit account for the clearance period. PRW , for a clearance period for a licensee, means the total of all amounts mentioned in schedule 7 , definition performance summary , paragraph (h) , recorded in all gaming machine performance records for the clearance period for the licensee’s licensed premises. TC , for a clearance period for a licensee, means the total monetary amount of gaming tokens recorded in all gaming machine performance records for the licensee’s licensed premises as being removed at the money clearance ending the clearance period. s 48 amd 2012 SL No. 248 s 11 (sec.48-ssec.1) A category 2 licensee must, for each clearance period, make a deposit (a periodic gaming deposit ) into an account (the monthly deposit account ) kept by the licensee for the purpose at a financial institution. Maximum penalty—20 penalty units. (sec.48-ssec.2) The periodic gaming deposit must be made within— if no period is decided under paragraph (b) —2 business days after the end of the clearance period; or a period, more than 2 days after the end of the clearance period, decided by the commissioner. (sec.48-ssec.3) The commissioner may decide a period under subsection (2) (b) for a particular licensee only if the commissioner considers it is appropriate to make the decision having regard to— the remote location of the licensee’s licensed premises; or the lack of appropriate facilities, near the licensee’s licensed premises, for making periodic gaming deposits; or another circumstance the commissioner considers is relevant to the licensee’s ability to make the periodic gaming deposit within the period mentioned in subsection (2) (a) . (sec.48-ssec.4) The licensee must keep a float to enable the periodic gaming deposit to be made. Maximum penalty—20 penalty units. (sec.48-ssec.5) The licensee must not withdraw funds deposited into the monthly deposit account and redeposit the funds into the account to make a periodic gaming deposit. Maximum penalty—20 penalty units. (sec.48-ssec.6) The licensee may calculate the periodic gaming deposit under either the standard periodic method or the win periodic method. (sec.48-ssec.7) However, the commissioner may direct a licensee who has incorrectly calculated a periodic gaming deposit under the win periodic method to calculate periodic gaming deposits under the standard periodic method. (sec.48-ssec.8) Under the standard periodic method, the amount of the periodic gaming deposit is calculated using the formula— (sec.48-ssec.9) Under the win periodic method, the amount of the periodic gaming deposit is calculated using the formula— (sec.48-ssec.10) In this section— D means the periodic gaming deposit in dollars. NMP , for a clearance 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 all gaming machine performance records for the clearance period for the licensee’s licensed premises that were not made by cheque drawn on the licensee’s monthly deposit account. PGC , for a clearance period for a licensee, means the total monetary amount of cancelled credits and hand-paid jackpot payouts made by cheque drawn on the licensee’s monthly deposit account for the clearance period. PRW , for a clearance period for a licensee, means the total of all amounts mentioned in schedule 7 , definition performance summary , paragraph (h) , recorded in all gaming machine performance records for the clearance period for the licensee’s licensed premises. TC , for a clearance period for a licensee, means the total monetary amount of gaming tokens recorded in all gaming machine performance records for the licensee’s licensed premises as being removed at the money clearance ending the clearance period.