Gambling (Amendment) (Alderney) Law, 2001

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PROJET DE LOI

ENTITLED

The Gambling (Amendment) (Alderney) Law, 2001

THE STATES, in pursuance of their Resolution of the 18th day of July, 2001, have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in the Island of Alderney.

Amendments to Law of 1999.

1. In the Gambling (Alderney) Law, 1999[a] -

(a) in the Arrangement of Sections thereto-

(i) for "SCHEDULE" substitute "SCHEDULE 1"; and

(ii) after the final entry insert the following entry-

"SCHEDULE 2 Lawful investments not constituting gambling";

(b) in section 1(2) and (3), for "the Schedule" substitute "Schedule 1";

(d) in section 6, for paragraph (g) substitute the following paragraphs -

"(fa) the taking of steps by the Commission falling short of suspension, which may include the imposition of financial penalties, in respect of any contravention of the terms of a licence for the organisation of gambling:

Provided that any financial penalty imposed shall not exceed the penalties prescribed by section 13(1);

(g) enabling any applicant for, or holder of, a licence for the organisation of gambling to appeal from any decision of the Commission refusing to grant or renew, suspending or revoking, or imposing penalties in respect of the conduct of, any such licence;";

(e) in section 13(1)(a), for "level 5 on the Alderney uniform scale" substitute "£25,000";

(f) in section 13(1)(b), for "twice level 5 on the Alderney uniform scale, or to imprisonment for a term not exceeding twelve months" substitute "£50,000, or to imprisonment for a term not exceeding two years";

(g) immediately after section 19(2), insert the following additional subsections -

"(3) For the avoidance of doubt, nothing in this Law or in any Ordinance made thereunder shall be taken to render unlawful, void or unenforceable any otherwise lawful contract-

(a) which is entered into by one or more of the parties thereto by way of business; and

(b) the making or performance of which by any party thereto involves -

(i) dealing in any way with an investment, or

(ii) making arrangements for another person to deal in any way with an investment, or

(iii) offering to agreeing to deal, or to make such arrangements, in relation to an investment.

(4) For the purpose of subsection (3), "investment" means any corporeal or incorporeal property or right in the nature of an investment, whether or not a controlled investment within the meaning of the Protection of Investors (Bailiwick of Guernsey) Law, 1987[b], and specifically includes all instruments, transactions, rights and interests of a type for the time being described in Schedule 2.

(5) The States may from time to time by Ordinance amend Schedule 2 so as to add any investment to, or delete any investment from, or vary the description of any investment within, that Schedule."; and

(h) the Schedule shall become "SCHEDULE 1" and the following Schedule shall be inserted immediately thereafter -

"SCHEDULE 2 Section 19(4)

Without prejudice to the generality of section 19(4), the following are within the scope of "investments" for the purposes of this Law -

(a) shares in the share capital of a body corporate or an unincorporated body;

(b) debentures, debenture stock, loan stock, bonds, certificates of deposit, and other instruments creating or acknowledging indebtedness of a body corporate, an unincorporated body, or a States, government or other public body or organisation;

(c) units or other interests in a collective investment scheme, closed-ended limited partnership, or closed-ended unit trust;

(d) rights under a contract of insurance;

(e) rights under a contract for the deposit of a sum of money to be repaid with or without interest or premium;

(f) rights under a contract for the credit secured on land;

(g) rights under a contract for differences, or under any other contract the purpose or intended purpose of which is to obtain a profit or avoid a loss by reference to fluctuations in the value or price of property of any description or in an index or other factor designated for that purpose in the contract;

(h) rights under a contract for the sale of any property (including currency) under which delivery is to be made at a future date and at a price agreed when the contract is made;

(i) options to acquire or dispose of any property;

(j) warrants, certificates or other instruments conferring ownership, subscription, acquisition, disposal, underwriting or conversion rights in respect of investments described in this Schedule;

(k) other rights to, and other interests in, investments described in this Schedule.".

Citation.

2. This Law may be cited as the Gambling (Alderney) (Amendment) Law, 2001.

[a]	Order in Council No. XIV of 1999.
[b]	Ordres en Conseil Vol. XXX, pp. 281 and 243; No. XII of 1995; No. II of 1997; Recueil d'Ordonnances Tome XXIV, p. 324; Tome XXVI, p. 333; No. X of 1998.