(1) Subject to subsections (2) and (3), 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 shall, on and after the relevant date, subject to the modifications specified in subsection (2), continue in force until the expiration of the period specified in the licence concerned and that Act, any regulations made under that Act, and section 17 of the Act of 2001 as it stood immediately before the coming into operation of section 268, shall continue to apply accordingly.

(2) The modifications referred to in subsection (1) are -

(a) a reference to setting up, maintaining, working or operating a totalisator by reference to a registered premises (within the meaning of the Act of 1931) where at any time on and after the relevant date there is no such premises shall be taken to refer to a premises of a licensee of an in-person betting licence or an in–person and remote betting licence,

(b) where paragraph (a) applies, a reference to the consent of the registered proprietor (within the meaning of the Act of 1931) of a registered premises shall be taken to be a reference to the consent of the licensee referred to in that paragraph, and