"financial interest" does not include the right to assess or collect a tax, levy or fee; and
"public body" means the state, an organ of state, or any organisation in which the state has a financial interest.
| 2) |
Subject to item 3 of Schedule and subsection (3), a public body must not hold any financial interest in any- |
| b) |
person who directly or indirectly, holds a gambling; licence, operates a gambling activity or owns or occupies premises used for a gambling activity. |
| a) |
directly or indirectly hold a financial interest in premises used for a gambling activity if it holds that interest in terms of an acceptable arrangement described in subsection (4); |
| b) |
be a party to an acceptable arrangement as described in subsection (5) between the public body and any other person in terms of which the public body undertakes to develop or maintain facilities or supply anything to the other person- |
| i) |
in the proximity of premises used for a gambling activity; or |
| ii) |
intended to provide socio-economic, infrastructure, or other support necessary for, or ancillary to, such premises or gambling activities; or |
| c) |
directly or indirectly hold an interest created or acquired in the course of giving effect to an acceptable arrangement contemplated in paragraph (b). |
| 4) |
An arrangement referred to in subsection (3)(a) is acceptable if- |
| a) |
it is an arm’s-length commercial transaction; and |
| b) |
any payment in terms of the arrangement to the public body is not directly or indirectly determined by reference to the turnover of, or profit from, the gambling activity. |
| 5) |
An arrangement referred to in subsection (3)(b) or (c) is acceptable if any payment in terms of the arrangement to the public body is not directly or indirectly determined by reference to the turnover of, or profit from, the gambling activity. |
Older Persons Act, 2006
