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Betting, Gaming and Lotteries Act 1963

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This is the original version (as it was originally enacted).

23(1)In August in each year every registered pool promoter shall send to the accountant and to the registering authority a statement showing, as respects his competitions depending on events which took place on any day during the period of twelve months ending with 31st July in that year—

(a)the aggregate total stakes in all those competitions ;

(b)the said aggregate total stakes after deducting the aggregate prizes in. and the aggregate pool betting duty payable in respect of those competitions ; and

(c)the amount of the promoter's commission or, at the option of the promoter, the percentage (calculated to the nearest one-tenth of one per cent.) which the said commission bears to the said aggregate total stakes :

Provided that, if the percentage referred to in paragraph (c) of this sub-paragraph does not exceed three per cent., the statement required by that paragraph may, if the promoter so desires, be a statement that the said percentage does not exceed three per cent.

(2)In the foregoing sub-paragraph, the expression "the promoter's commission" means the amount by which the aggregate total stakes in all the competitions referred to in that sub-paragraph exceeds the sum of—

(a)the aggregate prizes in those competitions ; and

(b)the aggregate pool betting duty payable in respect of the competitions; and

(c)the expenses of the promoter actually incurred by him in the conduct of those competitions, excluding any expenses properly chargeable to capital and any interest on borrowed money, and, in particular, excluding any provision for depreciation of buildings or equipment, any emoluments payable to the promoter or, if the promoter is a partnership, to any of the partners, or, if the promoter is a body corporate, to any of the directors, and in any case, any emoluments payable to any person whose emoluments depend to any extent on the profits of the promoter.

(3)The registering authority shall preserve any statement sent to them under this paragraph for at least two years and shall deposit it at their office and permit any member of the public to inspect it during office hours free of charge.

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