161Bookmakers must keep books of account

161 Bookmakers must keep books of account

(1)  A registered bookmaker must –

(a) keep, in the form and manner required by Tasracing, complete and proper books of account in respect of the bookmaker’s bookmaking business; and

(b) enter and record in those books of account a full and accurate account of all betting transactions entered into by the bookmaker and registered agents of the bookmaker; and

(c) keep those books of account available at all times, and produce them on demand at any reasonable time for inspection by Tasracing or any person authorised for the purpose by Tasracing; and

(d) if Tasracing so directs, have those books of account audited within such time and in such manner as is specified in the direction.

Penalty:  In the case of –

(a) a first offence, a fine not exceeding 20 penalty units; and

(b) a subsequent offence, a fine not exceeding 40 penalty units.

(2)  A registered bookmaker must not –

(a) bribe or attempt to bribe; or

(b) threaten; or

(c) attempt to intimidate or influence; or

(d) hinder or obstruct or attempt to hinder or obstruct –

a person who is carrying out an inspection or audit, or conducting any monitoring, that the person is authorised to carry out under this Act in relation to the registered bookmaker's bookmaking business.

Penalty:  In the case of –

(a) a first offence, a fine not exceeding 20 penalty units; and

(b) a subsequent offence, a fine not exceeding 40 penalty units.