an authority concerned that two directors would carry on with illegal business.

Last April a hearing in front of the Betting Licence Authority was adjourned for three months to allow Top Turf Off Track Betting to "get its affairs in order'' and see if a licence could be granted.

The hearing heard that Vincent Belboda, the company's major shareholder and manager at the time, knew little about what was going on and spent limited time on the premises.

It was claimed that Belboda was a puppet who was used by the directors, Richard Rizzo and Daniel Pisani, to satisfy legal requirements that a company must be 60 percent Bermudian owned.

As a result of his lack of knowledge, the hearing was told last April, it was possible for Rizzo to run an illegal betting business from his Warwick home using a rented post box. Rizzo has left the Island.

Yesterday at the resumption of the hearing, Senior Magistrate and chairman of the Authority, the Wor. Will Francis, refused to renew Top Turf's licence.

He said Belboda was still a director and the major shareholder, although he had stepped down as manager, and Pisani and Rizzo were still directors. A new manager, Francis Grenardo, has been appointed.

"There are severe limits on the extent to which even a major shareholder can impose his will on the directors without removing them,'' added Mr. Francis.

"In our view Mr. Pisani and Mr. Rizzo have been able to do as they wish despite the wishes of Mr. Belboda. We have no doubt that Mr. Pisani and Mr.

Rizzo were involved in the illegal activity in Warwick.'' Mr. Francis said he thought it was "more likely than not'' that Pisani and Rizzo were involved in placing an advert in the American newspaper, the Racing Form, when Top Turf's licence was suspended.

He added: "We therefore have no doubt that these two directors intend to continue their illegal activity. We do not doubt the lawful intentions of Mr.

Belboda and Mr. Grenardo.'' A "crucial'' point, said Mr. Francis, was that Belboda and the new manager do not represent the whole of the company or control the whole of the company.