89Guarantee of prize payments from authorised progressive machines and systems

#### 89 Guarantee of prize payments from authorised progressive machines and systems 89 Guarantee of prize payments from authorised progressive machines and systems > If the prize pool on an authorised progressive gaming machine or authorised progressive system 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, at the time of each progressive jackpot reconciliation required under this Division, a balance equal to or greater than the total value of the progressive meters on each such authorised progressive gaming machine or system, or > > > (b) obtain, on the installation of the authorised progressive gaming machine or system, a formal guarantee from a financial institution for an amount equal to the maximum jackpot on each such gaming machine or system. > > Maximum penalty—50 penalty units.