Cap. 400 Art. 36Redemption of cheques.

A person may, with the consent of the casino licensee, and not later than thirty minutes from the end of a gaming session redeem any cheque accepted from the person by the casino licensee during that gaming session by presenting at the cash desk of the casino -

(a) an amount of money, or

(b) chips the face value of which is, or

(c) any combination of cash and chips, or

(d) where more than one cheque is being redeemed, a consolidating cheque for an amount, equivalent to the amount for which the cheque or cheques are drawn, or the sum of the amounts of the cheques, to be redeemed. Government the rate of tax based on the total gross takings of all games played at the casino specified in the Schedule without the deduction of any expenses of any kind whatsoever, but subject to the following provisions of this article. The licensee shall not later than the seventh day of each month, effect payment to the Authority of the tax due in respect of the preceding month.

(2) For the purpose of determining the sums due to the Authority under subarticle (1), the gross takings or gross losses, as the case may be, on all games of chance shall be those resulting at the closing of the casino each day, but the casino licensee shall be entitled to set off any gross losses on such games incurred during any two months against gross takings on such games made during the same months: Provided that where a casino remains open for twenty-four hours in a day the closing of the casino for the purposes of this subarticle shall be deemed to be 8 a.m.

(3) The gross takings or losses on all games of chance shall be calculated at the closing of the casino each day and duly appointed representatives of the Authority shall be entitled to attend the making of such daily calculation for the purpose of verifying the same and, moreover, to attend at the playing of all games at the casino.

(4) The licensee shall further pay to the Authority on behalf of the Government such rate of tax on the casino entrance fee as may be specified in the casino licence.

(5) For the purposes of subarticle (2), the term "two months" means periods of two months, ending at the closing of the casino on the last day of February, April, June, August, October and December of each calendar year and does not include any time after the closing of the casino during which the business of the casino, commenced on the last day of the relevant two months’ period, is continued or concluded.