135Security for bookmaker registration

135 Security for bookmaker registration

(1)  Notwithstanding section 134 , an applicant is not entitled to be registered as a bookmaker unless the applicant has given Tasracing a bond of indemnity, or such other form of security as Tasracing may approve, to secure proper observance by the applicant of the provisions of this Act.

(2)  The bond of indemnity or other form of security is to be to the value of $6 000 or, if another value is prescribed, to the prescribed value.

(3)  Without limiting Tasracing’s discretion, the security to be given under this section may comprise any, or any combination, of the following:

(a) cash;

(b) money on fixed deposit with an authorised deposit-taking institution carrying on business in this State;

(c) a bond or guarantee, in a form approved by Tasracing, of a corporation or authorised deposit-taking institution approved by Tasracing;

(d) a State or Commonwealth government security;

(e) a prescribed security.