|
|
Amendment of section 27 of Principal Act.
|
3.—(1) Section 27 of the Principal Act is hereby amended—
|
|
| |
(a) by the addition to subsection (1) of “and if the event the subject of the bet is determined in favour of the person with whom the bookmaker enters into the bet, the bookmaker shall, from the total amount which he would otherwise pay or credit to that person in respect of the bet, make a deduction calculated at the rate of that percentage of that total amount” and
|
|
| |
(b) by the substitution in subsection (6) of “ten per cent.” for “five per cent.”,
|
|
| |
and the said subsections (1) and (6), as so amended, are set out in the Table to this section.
|
|
| |
(2) The amendment effected by subsection (1) (a) of this section shall have, and be deemed to have had, effect as on and from the commencement of section 27 of the Principal Act.
|
|
| |
TABLE
|
|
| |
(1) Every person who, as a licensed bookmaker, enters into a course bet on or after the commencement of this section shall pay to the Board a levy calculated at the rate of the prescribed percentage for the time being of the amount of such course bet and if the event the subject of the bet is determined in favour of the person with whom the bookmaker enters into the bet, the bookmaker shall, from the total amount which he would otherwise pay or credit to that person in respect of the bet, make a deduction calculated at the rate of that percentage of that total amount.
|
|
| |
(6) The Board may, with the consent of the Minister, make regulations in relation to the percentage (which shall not exceed ten per cent.) referred to in this section as prescribed.
|
