A totalisator licence granted by the Minister for Finance under section 3 of the Act of 1929 that is in force immediately before the relevant date continues in force on and after the relevant date, subject to the modifications in subsection (2), until the expiry of the period specified in the licence. The 1929 Act, any regulations made under it, and section 17 of the Act of 2001 as it stood immediately before the coming into operation of section 268 continue to apply accordingly. The modifications provide that where no registered premises (Act of 1931) exist on or after the relevant date, references to premises for setting up, maintaining, working or operating a totalisator shall be read as references to premises of a licensee of an in‑person betting licence or an in‑person and remote betting licence; consent of the registered proprietor shall be read as the consent of that licensee; and “remote means” (Act of 1931) shall be read as defined in this Act.

The holder of a totalisator licence that continues in force may surrender the licence by notice in writing to the Minister for Finance. Where, on the earlier of the licence expiry or its surrender, the holder has undistributed funds, the holder must arrange with the Authority to transfer those funds to the Social Impact Fund.