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Gaming Machine (Amendment) Act 2002

PAPUA NEW GUINEA

Gaming Machine (Amendment) Act 2002.

No. 31 of 2002.

Certified on: 23/09/02

ARRANGEMENT OF SECTIONS.

1. Distribution of profits (Amendment of Section 67).
2. Betting Tax (Amendment of Section 67A).
3. Repeal of Section 68.
4. Repeal of Section 68A.
5. Funds standing to the credit of the Community Benefit Fund Account.

AN ACT

entitled

Gaming Machine (Amendment) Act 2002,

Being an Act to amend the Gaming Machine Act 1993,

MADE by the National Parliament to come into operation on 1 September 2002.

1. DISTRIBUTION OF PROFIT (AMENDMENT OF SECTION 67).

Section 67 of the Principal Act is amended -

(a) in Subsection (2) -

• (i) in Paragraph (a), by repealing the figure "10%" and replacing it with the following:—
  • "15.3846%"; and
• (ii) by repealing Paragraph (c); and

(b) in Subsection (3), by repealing the figure 55% and replacing it with the following:-

• "84.6154%".

2. BETTING TAX (AMENDMENT OF SECTION 67A).

Section 67A of the Principal Act is amended in Subsection (2) by repealing the figure "60%" and replacing it with the following:—

"74%".

3. REPEAL OF SECTION 68.

Section 68 of the Principal Act is repealed.

4. REPEAL OF SECTION 68A.

Section 68A of the Principal Act is repealed.

5. FUNDS STANDING TO THE CREDIT OF THE COMMUNITY BENEFIT FUND ACCOUNT.

On the commencement of this Act, the Board shall, in respect of the Community Benefit Fund Account established under Section 68A(1), repealed by Section 4, -

(a) close the account; and
(b) pay to Consolidated Revenue Fund —

• (i) the balance of moneys standing to the credit of the account as at the date of closure and thereafter; and
• (ii) any amounts which were payable under Section 67(2)(c), repealed by Section 1(a)(ii), being amounts payable to the Community Benefit Fund Account under the provisions in force prior to the commencement of this Act and are received by the Board after the closure of the account.

I hereby certify that the above is a fair print of the Gaming Machine (Amendment) Act 2002 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Gaming Machine (Amendment) Act 2002 was made by the National Parliament on 29 August 2002.

Speaker of the National Parliament.