PDF 25 MB - Sun International | Investor Centre

REGULATORY COMPLIANCE
The South African gaming industry is well regulated and as a group that
prides itself on being the country’s most ethical and accountable gaming
company we ensure we comply with every regulation.
Two acts – the National Gambling Amendment Act, 2008 and the
Companies Act, 2008 – have been promulgated but have yet to be
brought into effect.
The National Gambling Amendment Act which will regulate online
gambling has not been brought into operation because the drafting
of the accompanying regulations is incomplete. The timeframe for this
completion is unclear but it seems unlikely that this will happen during
the remainder of 2010. Moreover, there is a possibility that the Gambling
Review Commission’s report will contain a recommendation that the
legislation regarding online gambling and the proposed regulations should
be reviewed. This would add further timelines to the final regulatory regime
regarding online gambling.
JOINT REPORT OF THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICER continued
The Department of Trade and Industry has announced that the
implementation of the Companies Act, 2008 has been postponed to
1 April 2011.
We are holding workshops across the group to ensure we comply with
those aspects of the Consumer Protection Act, 2008 (CPA) which could
impact on our business.
The CPA became partially effective in April 2010 with the remainder of
the Act scheduled to come into effect on 1 April 2011.
CORPORATE GOVERNANCE
The Royal Livingstone
Refer to detailed corporate governance report starting on page 99.
97