Gambling Regulation Act 2024
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Funding of Authority | ||
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40. (1) The Authority shall, from the advances made to it by the Minister under section 39 (1), fund the operational costs of the Authority for a period of 3 years from the establishment day. | ||
(2) Subject to subsection (3), the Authority shall, after the 3 years referred to in subsection (1), fund the operational costs for a relevant financial period from the total amount of the charges imposed in accordance with section 41 for the period concerned. | ||
(3) Where the Authority is unable to meet the operational costs incurred for a relevant financial period from the monies received from charges imposed for that period, the Authority may, for the purposes of meeting any deficit— | ||
(a) request an advance from the Minister under section 38 (2), or | ||
(b) draw on any reserve it may have in place under subsection (4). | ||
(4) Any money received through the imposition of charges in accordance with section 41 for a relevant financial period which is not required to cover the operational costs incurred by the Authority for that period may be retained by the Authority for any or all of the following purposes: | ||
(a) to create a reserve to pay future operational costs; | ||
(b) to offset future charges payable by licensees under that section; | ||
(c) to create a fund for the purpose of providing refunds in accordance with subsection (5). | ||
(5) Subject to subsection (6), where a licensee ceases, otherwise than by reason of suspension or revocation of the gambling licence of the licensee or pursuant to a court order under section 220 , to provide a relevant gambling activity or a relevant gambling product or relevant gambling related service pursuant to the licence during a relevant financial period, he or she may apply to the Authority for a refund, calculated on a pro rata basis, of part of the charge paid by the licensee in respect of that licence for the relevant financial period. | ||
(6) A minimum of half of the charge paid by a licensee in respect of the relevant financial period referred to in subsection (5) shall be non-refundable. |