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The General Betting Duty (Amendment) Regulations 2003
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- 2003 No. 2631
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations come into force on 1st November 2003.
Purpose of the Regulations
These Regulations amend the General Betting Duty Regulations 2001 (S.I. 2001/3088).
In addition to minor and drafting amendments they make the following changes of substance:
1. Regulation 3 redefines an on-course bookmaker so that this term now only applies to those who are carrying on or intend to carry on bookmaking at a horse or dog race meeting; and
2. Regulation 3 also withdraws the entitlement to three-month accounting periods that was previously provided for—
(a)bookmakers who have produced negative net stake receipts in any two of the previous twelve months under regulation 9 of the 2001 Regulations, and
(b)financial spread bets under regulation 10 of the 2001 Regulations.
Regulation 4 of these Regulations makes provision for the entitlement to three-month accounting periods, under the circumstances described at (a) and (b) above, to be withdrawn on 31 December 2003.
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