Racing Board and Racecourses Act, 1945

Chapter III.

Levies on Bookmakers in Respect of Course Bets.

Levies payable by licensed bookmakers on course bets,

27.—(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.

(2) For the purposes of this section the amount of a course bet shall be taken to be the sum which, by the terms of the bet, the bookmaker by whom it is entered into, will be entitled to receive, retain or take credit for if the event the subject of the bet is determined in his favour.

(3) Whenever it is proved to the satisfaction of the Board that a course bet in respect of which a levy is payable has become void for any reason other than the mutual consent of the parties thereto or that the amount of the course bet in respect of which a levy is payable has not been and is not likely to be collected by the bookmaker, the Board may, subject to such conditions as it thinks fit to impose, either (as the case may require) repay the levy paid or remit the levy chargeable in respect of such course bet.

(4) Every person who fails or neglects to pay any sum payable by him in respect of a levy shall (without prejudice to proceedings under subsection (5) of this section) be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding one hundred pounds.

(5) Every levy payable by any person shall (without prejudice to proceedings under subsection (4) of this section) be recoverable from that person by the Board as a simple contract debt in any court of competent jurisdiction.

(6) The Board may, with the consent of the Minister, make regulations in relation to the percentage (which shall not exceed five per cent.) referred to in this section as prescribed.