sec.326Wagering agents

sec.326 Wagering agents

This section applies if, immediately before the commencement day— a race club holds a totalisator licence under the existing Act; and a net pool of the race club is amalgamated under section 196 of the existing Act. Subject to part 8, division 4, for 1 year starting on the commencement day, the race club is taken to be a wagering agent of the initial operator and the agency relationship between the club and operator is taken to be an agency agreement. However, the race club may terminate the agency by written notice given to the initial operator. Within 7 days after the commencement day, the initial operator must give the chief executive a written notice informing the chief executive of the name and place of operation of each wagering agent under this section. (sec.326-ssec.1) This section applies if, immediately before the commencement day— a race club holds a totalisator licence under the existing Act; and a net pool of the race club is amalgamated under section 196 of the existing Act. (sec.326-ssec.2) Subject to part 8, division 4, for 1 year starting on the commencement day, the race club is taken to be a wagering agent of the initial operator and the agency relationship between the club and operator is taken to be an agency agreement. (sec.326-ssec.3) However, the race club may terminate the agency by written notice given to the initial operator. (sec.326-ssec.4) Within 7 days after the commencement day, the initial operator must give the chief executive a written notice informing the chief executive of the name and place of operation of each wagering agent under this section.

• (a) a race club holds a totalisator licence under the existing Act; and
• (b) a net pool of the race club is amalgamated under section 196 of the existing Act.