Section 11 of the Unlawful Gambling Act 1998 (NSW) is concerned with Financial Interest in Unlawful Bookmaking Business and is set out below.
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11 Offence of having financial interest in unlawful bookmaking business
(1) A person who has a financial interest in a bookmaking business, knowing that the business is being conducted in contravention of this Act, is guilty of an offence. Maximum penalty:
for a first offence–100 penalty units or imprisonment for 2 years (or both),
for a second or subsequent offence–500 penalty units or imprisonment for 2 years (or both).
(2) A person is not guilty of an offence under this section if the person proves that he or she:
(a) at the time of acquiring the financial interest in the bookmaking business, did not know, and had no reasonable cause to suspect, that the business was being or would be conducted in contravention of this Act, and
(b) as soon as practicable after becoming aware that the bookmaking business was being conducted in contravention of this Act, took all reasonable steps to divest himself or herself of the financial interest.
(3) In this section:”financial interest” in a bookmaking business means an entitlement to receive any of the income from the business.