163Requirements for wagering control system

163 Requirements for wagering control system (1) A wagering licensee must have a wagering control system consisting of a system of internal controls and administrative and accounting procedures, including computer hardware and software. (2) A wagering control system must, in accordance with the regulations: (a) safeguard compliance by the wagering licensee and the holders of a key person licence, employed by the licensee, with this Act; and (b) allow all transactions to be recorded in real time in a way that is auditable, reliable and secure; and (c) ensure that all parties to wagers receive their correct entitlement. The wagering control system may be owned by the licensee or by a third party. (3) A wagering licensee must not conduct operations under the licence unless its wagering control system is approved by the Director in accordance with the regulations. (4) The Director may make approval of a wagering control system conditional on the system's compliance with any standards, rules or requirements the Director considers appropriate to ensure the system meets the requirements of subsection (2). (5) The Director must publish the standards, rules or requirements applicable to wagering control systems under subsection (4). (6) A wagering licensee must not change its wagering control system except in accordance with the regulations. (7) A licensee must report a breach or failure of a wagering control system in accordance with the regulations.

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