sec.225Relationship of restricted officials with prospective authority operators

sec.225 Relationship of restricted officials with prospective authority operators

This section applies if a restricted official knowingly has, directly or indirectly— a business or financial association with another person who is a prospective authority operator; or a business or financial interest together with another person who is a prospective authority operator. However, this section applies only if the restricted official has been given a direction by the chief executive not to have a financial relationship with a general operator. Immediately after the restricted official becomes aware that the other person is a prospective authority operator, the official must give written notice of the official’s association or interest to the chief executive. Maximum penalty—40 penalty units. The chief executive may, by written notice given to the restricted official, direct the official to end the association, or give up the interest, within the time stated in the notice. However, the chief executive may give the direction only if the chief executive considers it appropriate to take the action in the public interest. A restricted official to whom a direction is given must comply with the direction within the time stated in the notice. Maximum penalty—40 penalty units. In this section— prospective authority operator means— a person who has applied for a wagering authority but whose application has not yet been decided; or a proposed wagering manager. (sec.225-ssec.1) This section applies if a restricted official knowingly has, directly or indirectly— a business or financial association with another person who is a prospective authority operator; or a business or financial interest together with another person who is a prospective authority operator. (sec.225-ssec.2) However, this section applies only if the restricted official has been given a direction by the chief executive not to have a financial relationship with a general operator. (sec.225-ssec.3) Immediately after the restricted official becomes aware that the other person is a prospective authority operator, the official must give written notice of the official’s association or interest to the chief executive. Maximum penalty—40 penalty units. (sec.225-ssec.4) The chief executive may, by written notice given to the restricted official, direct the official to end the association, or give up the interest, within the time stated in the notice. (sec.225-ssec.5) However, the chief executive may give the direction only if the chief executive considers it appropriate to take the action in the public interest. (sec.225-ssec.6) A restricted official to whom a direction is given must comply with the direction within the time stated in the notice. Maximum penalty—40 penalty units. (sec.225-ssec.7) In this section— prospective authority operator means— a person who has applied for a wagering authority but whose application has not yet been decided; or a proposed wagering manager.