151Security for endorsements

151 Security for endorsements

(1)  Notwithstanding section 149 , a bookmaker is not entitled to have the bookmaker’s certificate of registration endorsed with an on-course telephone betting endorsement, an off-course telephone betting endorsement or an off-course function betting endorsement unless the bookmaker has given Tasracing a bond of indemnity, or such other form of security as Tasracing may approve, to secure proper observance by the bookmaker of the provisions of this Division.

(2)  The bond of indemnity or other form of security is to be to the value of $15 000 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.