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Gambling License Malta: Malta Lotteries and other Games Act

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Gambling License Malta: Malta Lotteries and other Games Act

PART X- FINANCIAL PROVISIONS

50. (1) Without prejudice to the following provisions of this ar t icle, the Author i ty shall so conduct its affairs that the expenditure required for the proper performance of its functions shall, as far as practicable, be met out of its revenue.

(2) For such purpose as is mentioned in subarticle (1) the Authority shall levy all fees, rates, taxes, duties and other payments prescribed or deemed to be prescribed by or under this Act or any other law or regulations made thereunder related to the powers and functions of the Authority.

(3) The Authority shall also be paid by Government out of the Consolidated Fund such sums as the House may from time to time authorise to be appropriated to meet the costs of specified works to be continued or otherwise carried out by the Authority, being works of infrastructure or a similar capital nature.

(4) Any funds of the Authority, other than funds standing to the credit of the Gaming Authority National Lottery Reserve Fund referred to in subarticle (6), which are not immediately required to meet expenditure may be invested in such manner as may from time to time be approved by the Minister.

(5) Any excess of revenue over expenditure shall, subject to such directions as the Minister may from time to time give and subject to the provisions of subarticle (6), be applied by the Authority to the formation of reserve funds to be used for the purposes of the Authority; and without prejudice to the generality of the powers given to the Minister by this subarticle, any direction given by the Minister as aforesaid may order the transfer to the Government, or the application in such manner as may be specified in the direction, of any part of the fees, rates, taxes and duties and other payments levied in accordance with subarticle (2) or any such excess as aforesaid.

(6) Without prejudice to the powers of the Minister under subarticle (5), the Authority shall create and maintain a reserve fund, to be styled as the “Gaming Authority National Lottery Reserve Fund”, to which there shall be credited and paid by the Authority, immediately upon receipt thereof –

1. such percentage of the gross sums, fees, duties and, or taxes paid by the National Lottery licensee to the Authority in terms of article 31(4) as may be prescribed by regulations made by the Minister under this Act;
2. the gross amounts paid by the National Lottery licensee to the Authority in terms of article 59(2); and
3. any other amounts which the Authority is required to credit and pay into the Gaming Authority National Lottery Reserve Fund under any other provision of this Act or of any other law or of regulations made thereunder, and all funds standing to the credit of the Gaming Authority National Lottery Reserve Fund after the end of each financial year shall, not later than six weeks from the end of such financial year, be paid by the Authority into the Treasury and shall be credited to the National Lottery Good Causes Fund created by subarticle (7). The Authority shall not dispose of or use any funds from time to time standing to the credit of the Gaming Authority National Lottery Reserve Fund in any manner or for any purpose other than as provided in this subarticle.

(7) There shall be created and kept in the Treasury Department an account to be styled “National Lottery Good Causes Fund” to which there shall be credited and paid the credit balance in the Gaming Authority National Lottery Reserve Fund paid by the Authority to the Treasury in terms of subarticle (6). The funds from time to time standing to the credit of the National Lottery Good Causes Fund shall be paid out by the Minister, without any further appropriation other than this Act, to such persons, organisations, bodies or other ent i t ies pur suing object ives of a rel igious, philanthropic, cultural, sports, educational, social or civic nature or in support of other deserving causes, and in such amounts, in such manner and at such times, as may be determined by the Minister from time to time after consultation with an Advisory Board appointed by him for the purpose.

(8) A statement of the receipts and expenditure of the National Lottery Good Causes Fund shall, as soon as possible after the close of each financial year and in any case not later than three months after the close of such year, be forwarded by the Accountant General to the Auditor General, and article 65(2) of the Financial Administration and Audit Act shall apply to such statement. The Minister shall, at the earliest opportunity and not later than four weeks after such statement has been certified by the Auditor General as provided in this subarticle, or if at any time during that period the House is not in session, within four weeks from the beginning of the next following session, cause a copy of such statement to be laid on the Table of the House.

51. For the purpose of carrying out any of its functions under this Act, the Authority may, with the approval in writing of the Minister, borrow or raise money in such manner, from such person, body or authority, and under such terms and conditions as the Minister may approve in writing.

52. The Minister may make advances to the Authority of such sums as he may agree to be required by the Authority for carrying out any of its funct ions under this Act, and may make such advanceson such terms and conditions as he mayde emappropriate. Any such advance may be made by the Minister out of the Consolidated Fund, and without further appropriation other than this Act, by warrant under his hand authorising the Accountant General to make such advance.

53. (1) The Minister may, for any requirements of the Authority of a capital nature, contract or raise loans, or incur liabilities, for such periods and on such terms and conditions as he may deem appropriate; and any sums due in respect of or in connection with any such loan or liability shall be a charge on the Consolidated Fund.

(2) Notice of any loans, liabilities or advances made or incurred under the foregoing provisions of this article shall be given to the House as soon as possible.

(3) Pending the raising of any such loan as is mentioned in subarticle (1), or for the purpose of providing the Authority with working capital, the Minister may, by warrant under his hand, and without further appropriation other than this Act, authorise the Accountant General to make advances to the Authority out of the Treasury Clearance Fund under such terms as may be specified by the Minister upon the making thereof.

(4) The proceeds of any loan raised for the purposes of making advances to the Authority, and any other moneys to be advanced to the Authority under this article, shall be paid into a fund specially established for the purpose and which shall be known as the “Malta Lotteries and Gaming Loan Fund”.

(5) Sums received by the Accountant General from the Authority, in respect of advances made to the Authority under subarticle (3) shall be paid, as respects of amounts received by way of repayment into the Treasury Clearance Fund and, as respects of amounts received by way of interest into the Consolidated Fund.

54. (1) The Authority shall cause to be prepared in every financial year, and shall not later than six weeks after the end of each such year adopt, estimates of the income and expenditure of the Authority for the next following financial year:

Provided that the estimates for the first financial year of the Authority shall be prepared and adopted within such time as the Minister may by notice in writing to the Authority specify.

(2) In the preparation of such estimates, the Authority shall take account of any funds and other monies that may be due to be paid to it out of the Consolidated Fund during the relevant financial year, whether by virtue of this Act or an appropriation Act or of any other law; and the Authority shall so prepare the said estimates as to ensure that the total revenues of the Authority are at least sufficient to meet all sums properly chargeable to its revenue account including, but without prejudice to the generality of that expression, depreciation.

(3) The estimates shall be made out in such form and shall contain such information and such comparison with previous years as the Minister may direct.

(4) A copy of the estimates shall, upon their adoption by the Authority, be sent forthwith by the Authority to the Minister.

(5) The Minister shall, at the earliest opportunity and not later than six weeks after he has received a copy of the estimates from the Authority, approve the same with or without amendment.

55. (1) No expenditure shall be made or incurred by the Authority unless it has been approved by the Minister as provided in article 54.

(2) Notwithstanding the provisions of subarticle (1) –

1. until the expiry of six months from the beginning of a financial year, or until the approval of the estimates for that year by the Minister, whichever is the earlier date, the Authority may make or incur expenditure for carrying on its functions under this Act not exceeding in the aggregate one-half of the amount approved by the Minister for the preceding financial year;
2. expenditure approved in respect of a head or sub-head of the estimates may, with the approval of the Minister, be made or incurred in respect of another head or subhead of the estimates;
3. in respect of the first financial year, the Authority may make or incur expenditure not exceeding in the aggregate such amounts as the Minister may allow;
4. if in respect of any financial year it is found that the amount approved by the Minister is not sufficient or a need has arisen for expenditure for a purpose not provided for in the estimates, the Authority may adopt supplementary estimates for approval by the Minister and in any such case the provisions of this Act applicable to the estimates shall as near as practicable apply to the supplementary estimates.

56. The Minister shall, at the earliest opportunity and not later than eight weeks after he has received a copy of the estimates and supplementary estimates of the Authority, or if at any time during that period the House is not in session, within eight weeks from the beginning of the next following session, cause such estimates to be laid on the Table of the House.

57. (1) The Authority shall cause to be kept proper accounts and other records in respect of its operations, and shall cause to be prepared a statement of accounts in respect of each financial year.

(2) The accounts of the Authority shall be audited by an auditor or auditors to be appointed by the Authority and approved by the Minister:

Provided that the Minister may require the books and accounts of the Authority to be audited or examined by the Auditor General who shall for the purpose have all the powers set out in the Auditor General and National Audit Office Act.

(3) After the end of each financial year, and not later than the date on which the estimates of the Authority are forwarded to the Minister under article 54, the Authority shall cause a copy of the statement of account duly audited to be transmitted to the Minister together with a copy of any report made by the auditors on that statement or on the accounts of the Authority.

(4) The Minister shall, at the earliest opportunity and not later than eight weeks after he has received a copy of every such statement and report, or if at any time during that period the House is not in session, within eight weeks from the beginning of the next following session, cause every such statement and report to be laid on the Table of the House.

58. (1) All monies accruing to the Authority shall be paid into a bank or banks appointed as bankers of the Authori ty by a resolution of the Authority; such monies shall, as far as practicable, be paid into any such banks from day to day, except such sum as the Authority may authorise to be retained to meet petty disbursements and immediate cash payments.

(2) All payments out of the funds of the Authority, other than petty disbursements not exceeding a sum fixed by the Authority, shall be made by such officer or officers of the Authority as the same Authority shall appoint or designate for that purpose.

(3) Cheques against and withdrawals from any bank account of the Authority shall be signed by such officer of the Authority as may be appointed or designated by the Authority for that purpose and shall be countersigned by the Chairman, or such other member or officer of the Authority as may be authorised by the Authority for that purpose.

(4) The Authority shall also make provision with respect to –

1. the manner in which, and the officer or officers by whom, payments are to be authorised or approved;
2. the title of any account held with the bank or banks into which the monies of the Authority are to be paid, and the transfer of funds from one account to the other;
3. the method to be adopted in making payments out of funds of the Authority, and generally with respect to any matter which is relevant to the proper keeping and control of the accounts and books, and the control of the finance, of the Authority.

59. (1) The National Lottery licensee shall maintain a reserve, to be styled as the Unclaimed Prizes Reserve, to which there shall be credited and paid by such licensee an amount equal to the value of any monetary prize or to the retail value of any non-monetary prize in an authorised game operated by such licensee in terms of the National Lottery licence, which remains unclaimed at the end of the period for claiming such prize set out in the rules of the said authorised game. Such payment into the Unclaimed Prizes Reserve shall be made by the National Lottery licensee within seven days from the end of the period for claiming the prize referred to above.

(2) All funds standing to the credit of the Unclaimed Prizes Reserve of the National Lottery licensee after the 31st May and 30th November of each financial year of the licensee shall, not later than two weeks from each of the aforesaid two dates of each financial year of the licensee, be paid by the licensee to the Authority and shall be credited and paid by the Authority into the Gaming Authority National Lottery Reserve Fund referred to in a r t i cle 50(6) : provided tha t in the ca s e of t erminat ion or cancellation of the National Lottery licence, all funds standing to the credit of the Unclaimed Prizes Reserve on the eighth day after the date of such termination or cancellation shall be paid by the National Lottery licensee to the Authority by not later than two weeks form such date of termination or cancellation. The National Lottery licensee shall not distribute to its shareholders or otherwise dispose of or use any funds from time to time standing to the credit of the Unclaimed Prizes Reserve in any manner or for any purpose other than as provided in this subarticle.

(3) A National Lottery licensee who acts in breach of any of the provisions of the foregoing subarticles of this article shall be guilty of an offence against this Act. Furthermore, compliance by the National Lottery licensee with the said provisions shall be deemed to be a condition attached to the National Lottery licence for the purposes of this Act.

(4) The Minister may by regulations apply the provisions of this article to other games licensees or to such categories of other games licensees as may be specified in the same regulations.

60. Without prejudice to any directions communicated by the Minister under article 12(1), the Authority shall not, except with the approval of the Minister granted for special reasons, award or enter into any contract for the supply of goods or materials or for the execution of works, or for the rendering of services, to or for the benefit of the Authority, which is estimated by the Authority to exceed seven thousand euro (€7,000.00) in value, or such other amount as the Minister may by regulations prescribe, except after notice of the intention of the Authority to enter into the contract has been published and competitive tenders have been issued.

61. (1) Without prejudice to the provisions of the Prevention of Money Laundering Act, hereinafter in this article called “the Act”, the Minister with the concurrence of the Minister responsible for justice, may by order provide guidelines relating to the conduct of a licensee or officers or employees thereof or persons acting on his behalf or under an arrangement with him, or the Authority or members, officers or employees thereof, in relation to certain t ransact ions that may give r ise to any suspicion of money laundering, and may in particular provide that the provisions of article 9(1) of the Act shall apply with regard to licensees, gaming and operation of games with such modifications and adaptations as may be specified.

(2) Where a member, officer or employee of the Authority or an officer or employee of a licensee or other person acting on behalf of a licensee or under an arrangement with him, has reason to suspect that a transaction, or a proposed transaction, could involve money laundering, he shall act in accordance with the regulations made under the Act and any regulations made under this Act, as applicable thereto.

62. The Authority shall, not later than six weeks after the end of each financial year, make and transmit to the Minister a report dealing generally with the activities of the Authority during that financial year and containing such information relating to the proceedings and policy of the Authority as the Minister may from time to time require. The Minister shall, at the earliest opportunity and not later than eight weeks after he has received a copy of every such report, or if at any time during that period the House is not in session, within eight weeks from the beginning of the next following session, cause a copy of every such report to be laid on the Table of the House.