34.—The Authority or, with the consent of the Authority, a company of the Authority, may—

(a) apply for and hold a totalisator licence, and

(b) maintain and operate a totalisator in such places and on such occasions as it thinks fit subject to—

(i) any conditions or restrictions contained in the totalisator licence granted to it, and

(ii) regulations made under the Totalisator Act, 1929.