MISCELLANEOUS TRANSFERRED EXCISE DUTIES ACT (NORTHERN IRELAND) 1972

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MISCELLANEOUS TRANSFERRED EXCISE DUTIES ACT (NORTHERN IRELAND) 1972 - SECT 17

Pool betting duty.

17.(1) The general betting duty in respect of any bet shall

(a)if it is an on-course bet, be of an amount equal to [4 per cent.] of the
amount staked; and

(b)if it is not an on-course bet, be of an amount equal to [7 per cent.] of
the amount staked.

(2) Where it is shown to the satisfaction of the Ministry that a bookmaker has
laid off the whole or any part of an on-course bet made with him by making an
on-course bet (in this subsection called a "hedging" bet), being a
dutiable bet made in the course of the same meeting, and on the same
contingency, as the first-mentioned bet, and that both the bookmaker making,
and the person accepting, the hedging bet have complied with such conditions
as the Ministry considers fit to impose for the protection of the revenue, the
first-mentioned bet shall, up to the amount staked by the hedging bet, be
exempt from the general betting duty, and the Ministry shall remit or repay
duty accordingly.

(3) In giving relief under subsection (2), no part of the amount staked by a
hedging bet shall be brought into account more than once.

(4) In this section, an "on-course bet" means a bet made in the course of a
meeting

(a)with a bookmaker present at the meeting; or

(b)by means of a totalisator situated on premises forming part of the track;

(i)the person making the bet (that is to say, the person originating the bet
and not any agent or intermediary) is present at the meeting; or

(ii)the bet is made by a person carrying on a bookmaking business acting as a
principal (and not acting as agent for, or on behalf of, some other person).

(5) For the purposes of this section

"dutiable bet" means a bet to which section 16(1) applies;

"meeting" means any occasion on any one day on which events take place on any
track.

Meaning of pool betting, etc.

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Northern Irish Legislation

MISCELLANEOUS TRANSFERRED EXCISE DUTIES ACT (NORTHERN IRELAND) 1972 - SECT 17