130Eligibility criteria – betting exchange licence and sports

130 Eligibility criteria – betting exchange licence and sports bookmaker licence (1) To be eligible to apply for and hold a betting exchange licence or a sports bookmaker licence, an applicant must meet the following criteria: (a) in the case of an individual – be at least 18 years of age; (b) have a sound and stable financial background; (c) in the case of a body corporate – have or have arranged a satisfactory ownership, trust or corporate structure; (d) have or be able to obtain: (i) the financial resources sufficient to ensure the financial viability of the business proposed to be conducted under the licence; and (ii) the services of persons who have sufficient experience in the management and operation of the business; (e) have sufficient business ability to establish and maintain the business proposed to be conducted; (f) have no association with any person or body with undesirable or unsatisfactory financial resources; (g) have no person involved in the management or operation of the business proposed to be conducted have association with any person or body with undesirable or unsatisfactory financial resources; (h) have each officer or person determined to be associated or connected with the ownership, administration or management of the operations or business of the applicant be a suitable person to act in that capacity. (2) When considering suitability under subsection (1)(h), the Commission must consider the following criteria: (a) whether the person is a fit and proper person, having regard to character, honesty and integrity;

Racing and Wagering Act 2024 61 (b) whether the person has any business association with any person, body or association who or which, in the opinion of the Commission, is not a fit and proper person, having regard to character, honesty and integrity or has undesirable or unsatisfactory financial resources. (3) A person who holds a licence under the Totalisator Licensing and Regulation Act 2000 is taken to be eligible to apply for a betting exchange licence or sports bookmaker licence.