Finance Act 2001

2 For section 9(3)(a) of that Act (protection of revenue) substitute—

“(a) to any bet which is made by way of pool betting or coupon betting if—

(i) the bet is not made by means of a totalisator,

(ii) the promoter is in the Isle of Man,

(iii) the bet is chargeable with a duty imposed by or under an Act of Tynwald which corresponds to pool betting duty, and

(iv) the duty mentioned in sub-paragraph (iii) is chargeable on the bet at a rate not less than the appropriate rate of pool betting duty; or

(aa) to any bet which is made with a bookmaker if—

(i) it is not made by way of pool betting or coupon betting,

(ii) the bookmaker is in the Isle of Man,

(iii) a duty is imposed by or under an Act of Tynwald in respect of bookmaker’s receipts from bets of that kind, and

(iv) the rates and method of calculation of that duty result in no less duty being charged in respect of bets of that kind than is charged by way of general betting duty in respect of bets of that kind; or”.