Racing Integrity Act 2016
sec.136Racing bookmakers to maintain insurance policy or bond to indemnify bettors against default
Start here
Get a plain-English read of sec.136
Turn the raw legal text into a practical explanation grounded in Racing Integrity Act 2016.
sec.136 Racing bookmakers to maintain insurance policy or bond to indemnify bettors against default
For each code of racing for which a racing bookmaker is licensed, the racing bookmaker must have an insurance policy or bond, acceptable to the commission. Without limiting subsection (1) , an insurance policy or bond must— indemnify persons who bet with the racing bookmaker for amounts payable to the persons by the racing bookmaker; and include conditions required by the commission. An insurance policy or bond acceptable to the commission under this section is an accepted insurance policy or bond . (sec.136-ssec.1) For each code of racing for which a racing bookmaker is licensed, the racing bookmaker must have an insurance policy or bond, acceptable to the commission. (sec.136-ssec.2) Without limiting subsection (1) , an insurance policy or bond must— indemnify persons who bet with the racing bookmaker for amounts payable to the persons by the racing bookmaker; and include conditions required by the commission. (sec.136-ssec.3) An insurance policy or bond acceptable to the commission under this section is an accepted insurance policy or bond .
- (a) indemnify persons who bet with the racing bookmaker for amounts payable to the persons by the racing bookmaker; and
- (b) include conditions required by the commission.