sec.49Monthly variances record

sec.49 Monthly variances record

A licensee for category 2 licensed premises must, for each accounting period, complete a monthly variances record for the premises within 7 days after the end of the period. Maximum penalty—20 penalty units. The monthly variances record must— be signed by the licensee’s nominee; and if a variance mentioned in subsection (8) , definition monthly variances record , paragraph (c) , (f) , (i) , (l) or (o) (a relevant variance ) is more than 0.5%—include the reason for the variance. The licensee must ensure the monthly variances record is considered by the licensee’s management committee or board. Maximum penalty—20 penalty units. The licensee must take all reasonable steps to have the monthly variances record considered at the next meeting of the licensee’s management committee or board held after the record is completed. Maximum penalty—20 penalty units. Subsections (6) and (7) apply if a relevant variance for the monthly variances record is more than 0.5%. The licensee must take steps to ensure, as far as practicable, that the relevant variance does not recur. Maximum penalty—20 penalty units. If the licensee’s management committee or board considers, or having regard to the nature of the relevant variance reasonably ought to consider, that the variance is not satisfactorily explained by the reason under subsection (2) (b) , the licensee must— investigate the variance; and prepare a written report of the findings of the investigation; and keep the report with the monthly variances record. Maximum penalty—20 penalty units. In this section— metered cancelled credits means the total monetary amount of cancelled credits, for the accounting period, shown on the cancelled credits meters for the licensee’s gaming machines. metered cash clearances means the total of— the total monetary amount of gaming tokens shown on the cash box, or banknote acceptor, meters for the licensee’s gaming machines as being cleared from the gaming machines during the accounting period; and the total net cashless amount for the accounting period. metered progressive jackpots means the total hand-paid jackpot payouts for the accounting period shown on the progressive jackpot prize meter for the gaming machines on the licensed premises. monthly variances record , for an accounting period for a licensee, means a record, in the approved form, setting out the following details for the accounting period for the licensee’s licensed premises— the reported win; the metered win; any variance between the reported win and metered win; the reported cash clearances; the metered cash clearances; any variance between the reported cash clearances and metered cash clearances; the reported cancelled credits; the metered cancelled credits; any variance between the reported cancelled credits and metered cancelled credits; the reported progressive jackpots; the metered progressive jackpots; any variance between the reported progressive jackpots and metered progressive jackpots; the total (the total actual deposit ) of the amounts paid into the monthly deposit account as representing the periodic gaming deposits; the amount of the monthly gaming deposit; any variance between the total actual deposit and monthly gaming deposit. reported cancelled credits means the total of all amounts paid for cancelled credits. reported cash clearances means the total of— the total monetary amount of gaming tokens cleared from gaming machines; and the total amount deducted by the licensee for the total net cashless amount. reported progressive jackpots means the total of all amounts paid as hand-paid jackpot payouts. TCI means the total monetary amount of gaming machine credits, for the accounting period, shown on the cashless in meters for the licensee’s gaming machines. TCO means the total monetary amount of gaming machine credits, for the accounting period, shown on the cashless out meters for the licensee’s gaming machines. TJC means the total monetary amount of gaming machine credits, for the accounting period, shown on the jackpot credit meters for the licensee’s gaming machines. TNCA means the total net cashless amount for an accounting period. total net cashless amount means the total net monetary amount of gaming machine credits received by the licensee during the accounting period calculated using the formula— s 49 amd 2005 SL No. 1 s 9 (sec.49-ssec.1) A licensee for category 2 licensed premises must, for each accounting period, complete a monthly variances record for the premises within 7 days after the end of the period. Maximum penalty—20 penalty units. (sec.49-ssec.2) The monthly variances record must— be signed by the licensee’s nominee; and if a variance mentioned in subsection (8) , definition monthly variances record , paragraph (c) , (f) , (i) , (l) or (o) (a relevant variance ) is more than 0.5%—include the reason for the variance. (sec.49-ssec.3) The licensee must ensure the monthly variances record is considered by the licensee’s management committee or board. Maximum penalty—20 penalty units. (sec.49-ssec.4) The licensee must take all reasonable steps to have the monthly variances record considered at the next meeting of the licensee’s management committee or board held after the record is completed. Maximum penalty—20 penalty units. (sec.49-ssec.5) Subsections (6) and (7) apply if a relevant variance for the monthly variances record is more than 0.5%. (sec.49-ssec.6) The licensee must take steps to ensure, as far as practicable, that the relevant variance does not recur. Maximum penalty—20 penalty units. (sec.49-ssec.7) If the licensee’s management committee or board considers, or having regard to the nature of the relevant variance reasonably ought to consider, that the variance is not satisfactorily explained by the reason under subsection (2) (b) , the licensee must— investigate the variance; and prepare a written report of the findings of the investigation; and keep the report with the monthly variances record. Maximum penalty—20 penalty units. (sec.49-ssec.8) In this section— metered cancelled credits means the total monetary amount of cancelled credits, for the accounting period, shown on the cancelled credits meters for the licensee’s gaming machines. metered cash clearances means the total of— the total monetary amount of gaming tokens shown on the cash box, or banknote acceptor, meters for the licensee’s gaming machines as being cleared from the gaming machines during the accounting period; and the total net cashless amount for the accounting period. metered progressive jackpots means the total hand-paid jackpot payouts for the accounting period shown on the progressive jackpot prize meter for the gaming machines on the licensed premises. monthly variances record , for an accounting period for a licensee, means a record, in the approved form, setting out the following details for the accounting period for the licensee’s licensed premises— the reported win; the metered win; any variance between the reported win and metered win; the reported cash clearances; the metered cash clearances; any variance between the reported cash clearances and metered cash clearances; the reported cancelled credits; the metered cancelled credits; any variance between the reported cancelled credits and metered cancelled credits; the reported progressive jackpots; the metered progressive jackpots; any variance between the reported progressive jackpots and metered progressive jackpots; the total (the total actual deposit ) of the amounts paid into the monthly deposit account as representing the periodic gaming deposits; the amount of the monthly gaming deposit; any variance between the total actual deposit and monthly gaming deposit. reported cancelled credits means the total of all amounts paid for cancelled credits. reported cash clearances means the total of— the total monetary amount of gaming tokens cleared from gaming machines; and the total amount deducted by the licensee for the total net cashless amount. reported progressive jackpots means the total of all amounts paid as hand-paid jackpot payouts. TCI means the total monetary amount of gaming machine credits, for the accounting period, shown on the cashless in meters for the licensee’s gaming machines. TCO means the total monetary amount of gaming machine credits, for the accounting period, shown on the cashless out meters for the licensee’s gaming machines. TJC means the total monetary amount of gaming machine credits, for the accounting period, shown on the jackpot credit meters for the licensee’s gaming machines. TNCA means the total net cashless amount for an accounting period. total net cashless amount means the total net monetary amount of gaming machine credits received by the licensee during the accounting period calculated using the formula—