NSW Fair Trading has recently introduced new regulations, starting from 1 July 2020, which will change the way trade promotions operate.
Essentially, the new regulations aim to remove the 'red-tape' that has previously plagued the permit process relevant to games of chance. In fact, the entire process of having to obtain a permit has now been overhauled. But, before you get too excited and start thinking of all the different games of chance you'll be rolling out in no time, you still need a 'trade promotion gaming authority' to run any game of chance in NSW.
We set out below the important things you need to know about applying for an authority:
- An authority is only required where the total prize value of a trade promotion exceeds $10,000.
- An authority can be sought for a total period 1, 3 or 5 years, which means you can now operate multiple trade promotions all under one authority.
- The application fee depends on the length of the authority, ranging from around $400 for one year to $800 for five years.
- Once an authority is in place, the promoter must submit the T&Cs (otherwise known as the gaming rules) to NSW Fair Trading for approval at least 10 business days prior to starting that promotion.
- Prior to running a trade promotion, the promoter must ensure that permission is sought from any business who will benefit from that promotion.
Oh and it's worth mentioning the regulator is now armed with the right to issue penalty notices for minor breaches, and can commence court action where a breach is considered major – all the more reason to make sure your T&Cs reflect the new changes and are sorted in time for your next trade promotion.
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