Another new version of the gaming bill being considered by legislators states that if a junket operator, subagent, or controlling entity fails to provide the SAR government with information it deems necessary for the agency’s investigation, it will be prohibited from operating a gambling business. I don’t have the aptitude or the financial resources to do it.”

The information was provided by Zhang Chak Mo, chairman of the Legislative Assembly’s Second Standing Committee, as quoted by the Chinese newspaper Macau Daily News. entity.

The “obligation to cooperate” clause has been deleted. Previously, it stipulated that necessary documents, information, elements or evidence must be provided if requested by the SAR government, even if these documents are subject to confidentiality obligations.

Jorge Neto Valente, president of the Macau Bar Association (AAM), has previously criticized the powers that may have been given to authorities to break professional secrecy contained in previous versions of the bill. I was warning you.

The ‘obligation to cooperate’ provision was removed because the legislator deemed it ‘too broad’, Chan told media after a closed-door meeting held today (Tuesday) by the second standing committee.

However, Chan Chak Mo noted that junket operators, subagents, or controlling entities should provide the Gaming Inspection and Coordination Board (DICJ) and the Financial Services Department (DSF) with any documentation they deem necessary for the authorities. showed. As a result of the examination, applicants may be disqualified on the grounds that they do not meet the criteria for “fitness and financial strength” to run a gambling business.

On the other hand, Zhang Chao Mo said the dismissal of employees carried out by junket operators, sub-agency and management entities was “unjustifiable” under the circumstances where they were ordered to cease business operations by the Secretary of Economy and Finance. ,” said the reviewer. today’s session.

The amendments would require that a junket operator, subagent, or management entity, if there is a strong indication that it is engaging in activities likely to cause serious or irreparable harm to the public interest, to He suggested that maintaining operations would increase the risk of such continuation. Harmful activity, then the Secretary of Economy and Finance can order a “precautionary suspension” of the entity.

Chan said today some lawmakers believe that if a company decides to terminate a labor contract with an employee in the event of a “precautionary suspension,” such action would be considered an “unfair dismissal.” government representatives, the proposal will be added to the bill.

Meanwhile, at yesterday’s debate, the chairman of the committee said that gaming junket operators and their collaborators could deposit chips, cash or other forms of money opened by gaming concessionaires on behalf of gamblers. I pointed out that you can deposit money on behalf of a gambler for the sake of gambling.

Last week, Chang said that while a new version of another gaming law would allow gaming concessionaires to offer gamblers the service of reserving chips, cash, or other forms of deposit for gaming, It said it would ban any form of interest from such deposits.

In the amendments provided to the Commission by the SAR government, gaming concessionaires would require gamblers to open separate accounts for storing chips and redeeming other forms of money used in gaming. We suggested that it be allowed, but the service must comply with the following legal provisions: Prevent money laundering and terrorism.

Deposits are not subject to caps or deposit periods, but the services provided by the Gaming Concessionaire cannot give gamblers additional benefits such as interest, and only account holders can deposit and withdraw funds from their accounts. increase.

Chan also said a second reading vote on another game law is estimated to take place in mid-November.

Another bill, first unveiled on March 31, effectively replaces a 2002 administrative regulation that governed the licensing and activities of gaming junkets.

The draft stipulates that, in order to obtain a license, companies engaged in the promotion of games, known as junket operators, have social capital of at least MOP10 million (US$1.2 million), and a share of Macau resident-owned companies. We are proposing that we must own a majority stake. We have no outstanding game-related debt.

The bill would only allow junkets to receive commissions, making it illegal to split casino revenues agreed upon by casino concessionaires.

Also, a junket promoter can only contract with one game concessionaire, but a game concessionaire can contract with multiple junket operators.

Source link

Previous articleRyanair increases Stansted flights to meet Heathrow capacity limit
Next articleEmirates News Agency – Net foreign investment in local equities totals AED 15.5 billion since launch in 2022