sec.263Regulation-making power

sec.263 Regulation-making power

The Governor in Council may make regulations under this Act. A regulation may impose a penalty of not more than 20 penalty units for a contravention of the regulation. Subsection (2) does not limit any forfeiture under a regulation. A regulation may— prohibit a disqualified person from having, or otherwise limit the extent to which a disqualified person may have, a beneficial interest in a licensed corporation; or require a licensed corporation to ensure that a disqualified person is not a business or executive associate of the corporation; or prohibit a disqualified person from holding an interactive gambling licence or key person licence; or provide for fees payable under this Act and the matters for which fees are payable; or provide for the methods of payment used— with regulated interactive gambling equipment; or to participate in interactive gambling; or for paying prizes or refunding an amount wagered on an interactive game; or for making a deposit to, or a withdrawal from, a player’s account. A regulation under subsection (4) (a) may also provide for any of the following— stating the disqualified persons to whom the regulation applies; stating when a disqualified person is taken to have a beneficial interest in a licensed corporation; requiring a disqualified person to dispose of a non-complying interest, or otherwise ensure that the person ceases to have a non-complying interest, within a stated time; if a person does not comply with a requirement under paragraph (c) — if the non-complying interest consists of a shareholding or other property—forfeiting the non-complying interest to the State or another person; or if the non-complying interest consists of being a director of a corporation or holding another office—declaring that the person stops being a director of the corporation or stops holding the office, or is disqualified from again becoming a director of the corporation or holding the office; providing for the sale by the State or another person of an interest forfeited to the State or other person and application of the proceeds; limiting the value of the consideration received for an interest on making a compliance disposal of the interest; if the consideration received for an interest on making a compliance disposal of the interest is more than the limit under paragraph (f) , forfeiting the excess amount; requiring a person to give to the chief executive information or a document that is necessary and reasonable to help the chief executive decide a matter for the purposes of the regulation, including— whether a person is a disqualified person; and whether an interest is a beneficial interest in a licensed corporation; and whether an interest is a non-complying interest; and what amount, if any, is liable to be forfeited under the regulation. A regulation under subsection (4) has effect despite anything in the Corporations Act . The State is not civilly liable because of a regulation made under subsection (4) or anything done, or omitted to be done, for the purposes of the regulation. A regulation may be made in aid of section 261A or 261B , including a regulation under subsection (4) . In this section— compliance disposal , of an interest, means the disposal of the interest, as a result of which a disqualified person— no longer has a beneficial interest in a licensed corporation; or has less of a beneficial interest in a licensed corporation than the person had before the disposal. non-complying interest means a beneficial interest in a licensed corporation to the extent to which the interest is held by a person in contravention of a regulation under subsection (4) (a) . State includes an employee or agent of the State and a Minister. s 263 amd 1999 No. 37 s 5 ; 2001 No. 45 s 29 sch 3 ; 2014 No. 30 s 33 ; 2022 No. 23 s 77 (sec.263-ssec.1) The Governor in Council may make regulations under this Act. (sec.263-ssec.2) A regulation may impose a penalty of not more than 20 penalty units for a contravention of the regulation. (sec.263-ssec.3) Subsection (2) does not limit any forfeiture under a regulation. (sec.263-ssec.4) A regulation may— prohibit a disqualified person from having, or otherwise limit the extent to which a disqualified person may have, a beneficial interest in a licensed corporation; or require a licensed corporation to ensure that a disqualified person is not a business or executive associate of the corporation; or prohibit a disqualified person from holding an interactive gambling licence or key person licence; or provide for fees payable under this Act and the matters for which fees are payable; or provide for the methods of payment used— with regulated interactive gambling equipment; or to participate in interactive gambling; or for paying prizes or refunding an amount wagered on an interactive game; or for making a deposit to, or a withdrawal from, a player’s account. (sec.263-ssec.5) A regulation under subsection (4) (a) may also provide for any of the following— stating the disqualified persons to whom the regulation applies; stating when a disqualified person is taken to have a beneficial interest in a licensed corporation; requiring a disqualified person to dispose of a non-complying interest, or otherwise ensure that the person ceases to have a non-complying interest, within a stated time; if a person does not comply with a requirement under paragraph (c) — if the non-complying interest consists of a shareholding or other property—forfeiting the non-complying interest to the State or another person; or if the non-complying interest consists of being a director of a corporation or holding another office—declaring that the person stops being a director of the corporation or stops holding the office, or is disqualified from again becoming a director of the corporation or holding the office; providing for the sale by the State or another person of an interest forfeited to the State or other person and application of the proceeds; limiting the value of the consideration received for an interest on making a compliance disposal of the interest; if the consideration received for an interest on making a compliance disposal of the interest is more than the limit under paragraph (f) , forfeiting the excess amount; requiring a person to give to the chief executive information or a document that is necessary and reasonable to help the chief executive decide a matter for the purposes of the regulation, including— whether a person is a disqualified person; and whether an interest is a beneficial interest in a licensed corporation; and whether an interest is a non-complying interest; and what amount, if any, is liable to be forfeited under the regulation. (sec.263-ssec.6) A regulation under subsection (4) has effect despite anything in the Corporations Act . (sec.263-ssec.7) The State is not civilly liable because of a regulation made under subsection (4) or anything done, or omitted to be done, for the purposes of the regulation. (sec.263-ssec.8) A regulation may be made in aid of section 261A or 261B , including a regulation under subsection (4) . (sec.263-ssec.9) In this section— compliance disposal , of an interest, means the disposal of the interest, as a result of which a disqualified person— no longer has a beneficial interest in a licensed corporation; or has less of a beneficial interest in a licensed corporation than the person had before the disposal. non-complying interest means a beneficial interest in a licensed corporation to the extent to which the interest is held by a person in contravention of a regulation under subsection (4) (a) . State includes an employee or agent of the State and a Minister.