94AGuarantee of bookmakers against defaults in payment of wagers

94A Guarantee of bookmakers against defaults in payment of wagers S. 94A(1AA) inserted by No. 73/1996 s. 75(1), amended by No. 19/2002 s. 17(1). (1AA) In this section— S. 94A(1AA) def. of *bond* inserted by No. 73/2008 s. 17(1). ***bond*** includes a guarantee; S. 94A(1AA) def. of *determined amount* substituted by No. 73/2008 s. 17(2). ***determined amount***, in relation to a bond, class of registered bookmaker or class of wager, means the amount determined by Order under subsection (2B) in respect of that bond, class of registered bookmaker or class of wager. S. 94A(1AA) def. of *registered bookmaker* repealed by No. 73/2008 s. 17(3). S. 94A(1) amended by Nos 8603 s. 10(a), 49/1987 s. 18(a), 73/1996 s. 75(2), 97/1998 s. 23(1), 19/2002 s. 17(2)(a)(b) (c), 114/2003 s. 12.1.3 (Sch. 6 item 10.8(a)), substituted by No. 73/2008 s. 17(4). (1) The Commission, with the approval of the Minister, may— S. 94A(1)(a) amended by No. 56/2014 s. 63(4). (a) arrange with the Victorian Bookmakers Association Limited ACN 004 236 677 (***the Company***) for the Company to lodge with the Commission a bond in the determined amount, in the circumstances and to the extent provided by this section, to satisfy defaults made by registered bookmakers or their approved substitutes in the payment of wagers to persons betting with them in accordance with section 4, a club betting permit or section 2.2.5 of the **Gambling Regulation Act 2003**; or (b) require a registered bookmaker to make arrangements satisfactory to the Commission for the lodgement of a bond in the determined amount to satisfy defaults made by the bookmaker or the bookmaker's approved substitute. S. 94A(2) amended by Nos 8603 s. 10(b)(i)(ii), 49/1987 s. 18(b), 27/1988 s. 8, substituted by No. 73/1996 s. 75(3), amended by Nos 19/2002 s. 17(3), 73/2008 s. 17(5). (2) A bond under subsection (1)(a) remains in force, after being lodged with the Commission, until revoked by notice in writing by the Company addressed to the Commission. S. 94A(2A) inserted by No. 73/1996 s. 75(3), amended by No. 19/2002 s. 17(4)(a)-(c), substituted by No. 73/2008 s. 17(6). (2A) A bond under subsection (1)(a) may limit the liability of the Company— (a) in relation to each registered bookmaker who is a member of a class determined by Order under subsection (2B), to the payment, in respect of all defaults by that registered bookmaker in the payment of wagers (not being defaults to which paragraph (b) applies)— (i) of a total amount of not less than the determined amount in respect of that class of registered bookmaker; or (ii) if the registered bookmaker is a member of more than one class, of a total amount of not less than the highest determined amount in respect of those classes of registered bookmaker; and (b) in relation to each registered bookmaker, to the payment, in respect of all defaults by that registered bookmaker in the payment of wagers of a class determined by Order under subsection (2B), of a total amount of not less than the determined amount in respect of that class of wager. S. 94A(2B) inserted by No. 73/1996 s. 75(3), amended by No. 19/2002 s. 17(5), substituted by No. 73/2008 s. 17(7). (2B) The Governor in Council, by Order published in the Government Gazette, may determine for the purposes of this section— (a) the amount of a bond referred to in subsection (1)(a) or (b); and (b) classes of registered bookmaker and an amount in respect of each class; and (c) classes of wager and an amount in respect of each class. S. 94A(2C) inserted by No. 19/2002 s. 17(6). (2C) If an Order is made under subsection (2B), the Order is to be taken not to apply in respect of any wager made before the commencement of that Order. S. 94A(3) substituted by No. 97/1998 s. 23(2), amended by Nos 19/2002 s. 17(7), 73/2008 s. 17(8). (3) The revocation of a bond under subsection (1)(a) does not affect the liability of the Company to make any payment due under the conditions of the bond in respect of defaults occurring in the payment of wagers made in accordance with— S. 94A(3)(c) amended by Nos 114/2003 s. 12.1.3 (Sch. 6 item 10.8(a)), 56/2014 s. 63(4). while the bond was in force. S. 94A(4) substituted by No. 97/1998 s. 23(2), amended by Nos 19/2002 s. 17(8)(a)–(c), 73/2008 s. 17(9). (4) If a registered bookmaker, or his or her substitute, has defaulted in the payment of a wager made in accordance with— S. 94A(4)(c) amended by Nos 114/2003 s. 12.1.3(Sch. 6 item 10.8(a)), 56/2014 s. 63(4). the Company is not liable to satisfy the default unless the backer who made the wager makes a written complaint, either to the Company or to the relevant authority. S. 94A(5) substituted by No. 97/1998 s. 23(2). (5) A complaint must be made— S. 94A(5)(a) amended by Nos 19/2002 s. 17(9)(a)(b), 73/2008 s. 17(10). (a) if the backer paid the amount to the registered bookmaker, or his or her substitute, at the time the wager was made, within 60 days after the day of the race meeting or sport in respect of which the wager was made; or S. 94A(5)(b) amended by Nos 19/2002 s. 17(9)(a)(b), 73/2008 s. 17(11). (b) if the backer did not pay the amount to the registered bookmaker, or his or her substitute, at the time the wager was made, within 21 days after the day of the race meeting or sport in respect of which the wager was made. S. 94A(5A) inserted by No. 97/1998 s. 23(2)*,* amended by Nos 19/2002 s. 17(10)(a), 73/2008 s. 17(12). (5A) If the registration of a bookmaker has been revoked, surrendered or suspended, the Commission, or, at the direction of the Commission, any person or body to whom a complaint may be made under subsection (4) may, for the purposes of subsection (5B), do all or any of the following— (a) publish notice of that revocation, surrender or suspension; or S. 94A(5A)(b) amended by Nos 19/2002 s. 17(10)(b) (i)(ii), 73/2008 s. 17(13). (b) give a notice to any backer who has made a wager with the registered bookmaker, or his or her substitute, of that revocation, surrender, or suspension. S. 94A(5B) inserted by No. 97/1998 s. 23(2)*,* amended by Nos 19/2002 s. 17(11)(a)(b), 73/2008 s. 17(14). (5B) Despite subsection (5), a backer who had placed a wager with a registered bookmaker, or his or her substitute, in respect of whom notice has been given under subsection (5A), may make a complaint if— (a) the complaint is made within 14 days after the publication or giving of the notice, as the case requires; and (b) if the wager, in respect of which the complaint is made— S. 94A (5B)(b)(i) amended by Nos 19/2002 s. 17(11)(c), 73/2008 s. 17(15). (i) was made within the 21 days immediately before the bookmaker's registration, was revoked, surrendered or suspended; and S. 94A (5B)(b)(ii) amended by Nos 19/2002 s. 17(11)(d) (i)(ii), 73/2008 s. 17(16). (ii) is a wager in respect of which the backer did not pay the amount to the registered bookmaker, or his or her substitute, at the time of the wager. S. 94A(5C) inserted by No. 97/1998 s. 23(2), amended by No. 73/2008 s. 17(17). (5C) A person or body who receives a complaint must, by the end of the next business day after receiving the complaint, forward the complaint to the Commission. S. 94A(5D) inserted by No. 97/1998 s. 23(2), amended by Nos 19/2002 s. 17(12)(a) (b)(c), 73/2008 s. 17(18). (5D) If the Commission receives a complaint, forwarded under subsection (5C), about a registered bookmaker, or his or her substitute, the Commission may, whether or not it conducts an investigation into the circumstances of the making of the wager, cause a demand in writing to be made on the Company for the Company to pay to the Commission the amount of the default within 14 days after the date of the demand. S. 94A(6) amended by Nos 19/2002 s. 17(13), 73/2008 s. 17(19). (6) Upon receiving payment from the Company of the amount of any such default the Commission shall cause that amount to be paid to the backer in satisfaction of the default. S. 94A(7) substituted by No. 97/1998 s. 23(3)*,* amended by Nos 19/2002 s. 17(14)(a) (b)(c), 73/2008 s. 17(20). (7) Where the total amount of all defaults made by a registered bookmaker, or his or her substitute, on wagers made in accordance with— S. 94A(7)(c) amended by Nos 114/2003 s. 12.1.3(Sch. 6 item 10.8(a)), 56/2014 s. 63(4). exceeds the limit of the liability of the Company in relation to them under the bond, the Commission must determine the proportions in which moneys becoming available for the satisfaction of defaults is distributed among the backers in respect of whose wagers defaults were made. S. 94A(8) amended by Nos 19/2002 s. 17(15), 73/2008 s. 17(21), 25/2023 s. 7(Sch. 1 item 22). (8) If default is made by the Company in payment to the Commission of any amount demanded by the Commission under subsection (5) of this section in satisfaction of a default the bond shall be forfeited and the amount thereof may be recovered as a debt due to His Majesty. S. 94A(9) amended by Nos 9549 s. 2(1)(Sch. item 188), 19/2002 s. 17(15). (9) Any moneys recovered from the Company in respect of a bond so forfeited shall first be paid in satisfaction of any defaults outstanding in the payment of wagers at the time of the recovery and the balance shall be paid to the Consolidated Fund. S. 94A(10) amended by No. 73/2008 s. 17(22). (10) Where the moneys recovered in respect of a forfeited bond are not sufficient to satisfy all defaults outstanding at the time of the recovery thereof the Commission shall cause the moneys recovered to be distributed rateably among the backers in respect of whose wagers certificates have been received by the Commission under subsection (5) of this section. S. 94A(10A) inserted by No. 56/2014 s. 63(5). (10A) In this section— (a) a reference to a person betting in accordance with section 2.2.5 of the **Gambling Regulation Act 2003** is a reference to a person betting in a betting game conducted in accordance with that section; and (b) a reference to a wager made in accordance with section 2.2.5 of the **Gambling Regulation Act 2003** is a reference to a wager made in a betting game conducted in accordance with that section. S. 94A(11) inserted by No. 97/1998 s. 23(4). (11) In this section— S. 94A(11) def. of *relevant authority* amended by Nos 35/2001 s. 6(Sch. 1 item 15), 114/2003 s. 12.1.3 (Sch. 6 item 10.8 (a)(b)), 73/2008 s. 17(23), 56/2014 s. 63(6). ***relevant authority*** means— (a) in the case of a wager made in accordance with section 4(4)(a), the holder of the licence, permit or authorisation which allowed the race‑meeting, at which the wager was made, to be held; or (b) in the case of a wager made in accordance with section 4(4)(b), Racing Victoria; or (c) in the case of a wager made in accordance with a club betting permit, the permit holder; or (d) in the case of a wager made in accordance with section 2.2.5 of the **Gambling Regulation Act 2003**, the person or body to whom approval was issued under that section. S. 95 amended by Nos 6886 s. 3, 49/1987 s. 23(a), repealed by No. 2/2022 s. 24. Pt 4A (Heading and ss 95A–95F) inserted by No. 92/2005 s. 4. Part IVA—Racing Victoria Centre land S. 95A inserted by No. 92/2005 s. 4.