31Surrender of licence

31 Surrender of licence (1) A licensee may, in writing to the Director, surrender his or her (2) The surrender of a licence does not take effect unless it is accepted by the Director. (3) The Director must in writing notify the person who was the licensee under the licence that the Director has accepted the surrender of a (4) On the Director accepting the surrender of a licence, the licence ceases to have effect but the person who surrendered the licence remains liable for: (a) unless the Director determines otherwise, the payment of all outstanding fees, taxes and charges payable in relation to the operation of a totalisator or conduct of totalisator wagering under the licence; (b) the payment to the Territory of any dividends or other payments or prizes that are unclaimed or unpaid at the date of the surrender; (c) the payment to the Territory of the amount equal to the credit balances in betting accounts with the person as licensee at the date of the surrender; (d) any other liability incurred by or obligation imposed on the person as licensee; and (e) an act or omission done, caused, permitted or made by the person as licensee before the surrender.

Totalisator Licensing and Regulation Act 2000 19 (5) For the purposes of subsection (4)(b) and (c), the person surrendering a licence must give to the Director a list of the following persons: (a) persons who have not been paid dividends or other money owing to them by the person as licensee; (b) persons who have not claimed from the person as licensee prizes they have won; (c) persons who have a credit balance in a betting account with the person as licensee.