5Bookmaker partnerships

5 Bookmaker partnerships

(1)  Two or more persons may apply to Tasracing for permission to carry on business as bookmakers in partnership if each applicant is either a registered bookmaker or has applied to be registered as a bookmaker.

(2)  The application under subregulation (1)  –

(a) is to be in a form approved by Tasracing; and

(b) must be supported by such evidence or information as Tasracing requires.

(3)  Tasracing may –

(a) approve the application; or

(b) refuse to approve the application.

(4)  If the application is approved, Tasracing is to give the applicants notice of –

(a) the approval; and

(b) the requirements specified in subregulation (6) .

(5)  If the application is refused, Tasracing is to give the applicants notice of the refusal, with reasons, and the applicants' right of appeal.

(6)  Persons whose application under subregulation (1) is approved must not commence business in partnership –

(a) until they have lodged a deed of partnership with Tasracing and had that deed approved by Tasracing; and

(b) if not all of the applicants were registered bookmakers when the application was lodged, until all of them are registered bookmakers.

Penalty:  Fine not exceeding 25 penalty units and, in the case of a continuing offence, a further fine not exceeding 2.5 penalty units for each day during which the offence continues.

(7)  If 2 or more persons have been approved to carry on business as bookmakers in partnership under this regulation but Tasracing suspends or cancels the bookmaker registration of one or more of those persons, the partnership is, for the purposes of the Act, taken to have been dissolved forthwith.

(8)  A person whose bookmaking partnership is taken to have been dissolved under because of a suspension of bookmaker registration may nevertheless submit a fresh application under once the period of suspension expires, if they are otherwise eligible to do so.