South Australian Consolidated Acts South Australian Consolidated ActsSchedule 4—Transitional provisions
A liability to pay a dividend on a totalisator bet subsisting at the repeal of
the Racing Act 1976 will be discharged at the time at which the body
concerned would have ceased to have the liability in accordance with the
Racing Act 1976 had that Act not been repealed.
6—Appropriation of money for dividends
(1) If the Minister is
required by the sale agreement or a related agreement to pay an amount for a
dividend on a totalisator bet, the amount required is appropriated from the
Consolidated Account by force of this clause.
(2) If the Minister
decides to pay an amount ex gratia as a dividend on a totalisator bet, the
amount required is appropriated from the Consolidated Account by force of this
clause.
(3) The Minister is
not to pay an amount as a dividend on a totalisator bet if more than 12 months
have elapsed since the race or other event in respect of which the bet was
made.