Gambling Regulation Act 2024
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Establishment and maintenance of Segregated Customer Account | ||
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135. (1) Subject to regulations made under section 136 , a licensee of a Business to Consumer gambling licence shall, in accordance with this section, open and maintain a single account (in this Act referred to as a “Segregated Customer Account”) in a regulated financial service provider to hold the funds specified in subsection (2). | ||
(2) The funds (in this Act referred to as “relevant funds”) referred to in subsection (1) are— | ||
(a) money held with a licensee by— | ||
(i) an account-holder, or | ||
(ii) a person (in this section referred to as an “in-person participant”) participating in a relevant gambling activity on a premises in the State, | ||
(b) until such time as a relevant gambling activity has been completed, relevant payments made by participants to a licensee in connection with that activity, and | ||
(c) winnings not paid out by the licensee. | ||
(3) A licensee may only access relevant funds in a Segregated Customer Account— | ||
(a) in relation to funds referred to in subsection (2)(a), subject to section 171 , when authorised to do so by the account-holder or in-person participant concerned, | ||
(b) subject to subsection (4), in relation to funds referred to in subsection (2)(b), when the relevant gambling activity concerned has been completed, | ||
(c) in relation to funds referred to in subsection (2)(c), to pay out winnings, and | ||
(d) in the cases referred to in paragraphs (a) to (c), as otherwise authorised by regulations made under section 136 . | ||
(4) A licensee may only access relevant payments made to a licensee in connection with a relevant gambling activity after the activity is completed to the extent that the relevant payments are not required to fund winnings in respect of the activity concerned. | ||
(5) Subject to any regulations that may be made under section 136 (d), a licensee shall keep up-to-date records in relation to a Segregated Customer Account in such a manner as enables identification of— | ||
(a) in relation to the funds referred to in subsection (2)(a), the amount standing to the credit of each account-holder and in-person participant, | ||
(b) in connection with the funds referred to in subsection (2)(b), the total amount of the relevant payments held by a licensee in connection with the relevant gambling activity concerned, and | ||
(c) in relation to the funds referred to in subsection (2)(c), the amount of winnings which have not been paid out by the licensee. | ||
(6) A licensee who fails to comply with an obligation imposed by this section or in regulations made under section 136 on the licensee in relation to a Segregated Customer Account commits an offence and is liable— | ||
(a) on summary conviction, to a class A fine or imprisonment for a term not exceeding 12 months, or both, or | ||
(b) on conviction on indictment, to a fine or imprisonment for a term not exceeding 5 years, or both. |