14Guarantee of prize payments from multi-terminal gaming machines

#### 14 Guarantee of prize payments from multi-terminal gaming machines 14 Guarantee of prize payments from multi-terminal gaming machines > > (1) If the maximum jackpot prize that may be won on a multi-terminal gaming machine kept on the premises of a registered club exceeds $20,000, the club must— > > > > > (a) establish with a financial institution a special account which is to have a balance equal to or greater than the total value of the jackpot prizes that may be won on each such gaming machine, or > > > > > (b) obtain a formal guarantee from a bank or recognised financial institution, or from a person or body approved by the Authority, for an amount equal to the total value of the jackpot prizes that may be won on each such gaming machine. > > > (2) The registered club must keep or cause to be kept a written record, in a form approved by the Authority, of— > > > > > (a) any special account established under subclause (1)(a), or > > > > > (b) any guarantee obtained under subclause (1)(b). > > Maximum penalty—50 penalty units.