Page 413 - Week 02 - Tuesday, 18 March 2014
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I am pleased to have the support of all of the chamber in this, but just as a comment let me say that it is a pity that Mr Smyth comes in here and supports the bill but then cannot help but be ungracious and make to me quite unnecessary comments. As for the briefings, Mr Smyth, we have brought officials over to the Canberra Liberals and no-one has even turned up. They have turned up to locked doors, Mr Smyth. Perhaps the courtesy needs—
MADAM DEPUTY SPEAKER: Ms Burch! Stop the clock, please. Ms Burch, would you please address your comments to me as chair and not to Mr Smyth. Thank you.
MS BURCH: I think the point was just that when officials turn up to a locked door, the courtesy chain goes both ways, Mr Smyth.
But let me go to the bill at hand. The bill reduces red tape in the club sector through amendments that improve administrative processes without affecting the ability of the ACT Gambling and Racing Commission to properly oversee the regulation of gaming machines.
In particular, the bill amends provisions that currently require the approval of financial arrangements when gaming machines are being acquired or when existing gaming machines are being encumbered. The bill also improves processes in relation to arrangements for undisbursed jackpot amounts.
The bill supplements the work that the ACT government has committed to in signing the memorandum of understanding with ClubsACT in September of 2012. A key commitment in that MOU, which set out the policy and reform agenda for the licensed club sector over four years, was that a broad review of the current regulatory regime faced by the club sector would be conducted.
Specifically, the bill removes sections 101 and 102 of the Gaming Machine Act 2004 and provides that a licensee authorised to acquire a gaming machine under the current approval scheme operated by the commission will no longer need to have the financial arrangements approved. Red tape will be reduced through decreasing the time and effort spent by eligible gaming machine licensees in applying to acquire machines. The changes do not, however, reduce other regulatory requirements for obtaining gaming machines.
Overall, the government remains committed to reducing the number of gaming machines in the territory as one aspect of our harm minimisation approach to problem gambling.
Licensees will also no longer be required to apply to the commission where a financial arrangement is proposed to encumber an existing machine, as this requirement does not fit with current commercial practice and is unnecessary given the other provisions of the Gaming Machine Act.
A common commercial practice is for financial institutions to place fixed and floating charges over all company or licensee assets, including gaming machines. This practice
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