✨ Investment Rules
- Provisions Relating to Investments by Cash
(a) Cash investments will be accepted only during the hours advertised at each totalisator agency for the acceptance of such investments, but the person in charge of such totalisator agency may declare at any time that the office is closed for receiving cash investments.
(b) Only bank notes or coins or such other instruments for payment of money as the Board may determine from time to time shall be accepted.
(c) Before an investment will be accepted the investor must indicate clearly the race meeting, the race, the horse code number or numbers, the amount of the investment and whether for win, place, or double, and such other information as may be required to identify the investment to be made.
(d) On acceptance of the investment, investors will be issued with a written or printed ticket which must be presented when claiming any dividend or refund due in respect of such investment.
(e) Tickets will show the amount invested in dollars or dollar units for win and place and in dollars or dollar units and/or fractions of a dollar and/or in cents for doubles and may likewise show the total amount invested and/or such other information as may be necessary to identify the investment recorded.
Tickets will be printed, written, stamped, punched, or marked to show the code letters or abbreviation designated for the race meeting concerned, the date or week designated for such meeting, the number of the race concerned other than for a double, and the code number allocated by the totalisator agency to the horse or horses on which the investment is made.
(f) (i) Notices shall be exhibited at all totalisator agencies showing the horses known to be accepted for those race meetings for which the Board will be receiving investments, the date and code letter or abbreviation of each such race meeting, the numbers of races and the code numbers allotted to the horses therein, and the distinguishing mark of any double or other combination of races or form of investment as may be necessary for the proper identification of investments.
(ii) Investments shall be receivable in respect of only those races and meetings and the horses accepted therefor for which such notices are exhibited.
(iii) Notwithstanding anything in clause (g) herein where a ticket has been issued and there is recorded thereon the wrong race number or in respect of the meeting either the wrong date or the wrong designation for such meeting or either of such particulars is omitted, the Board in its sole discretion may, if it is satisfied that such record or omission is an error and it is manifest that the investment was intended for a particular race or meeting, treat the investment as intended for that race or meeting and the investment shall be deemed to be made accordingly.
(g) (i) Subject to the following provisions of this clause the investor shall be deemed to accept the ticket issued to him unless he applies forthwith after issue thereof to have any error or omission rectified.
(ii) Subject to the provisions of the next succeeding sub-clause (iii) herein, if the investment as indicated on the ticket is one which cannot be recorded on the totalisator or is one for which notices are not exhibited at the agency in accordance with clause (f) herein at the time the ticket is issued, the investor shall be entitled only to a refund.
(iii) Where the ticket is issued for a doubles investment and in respect of the second race of such double there is either no horse code number recorded or the number recorded is not one included on the totalisator, the investor shall be deemed to accept the ticket as issued and in the event of the horse selected winning the first race of the double the Board will place the investment in the second race of the double on the favourite as would be determined in accordance with the provisions of rule 10B (ii) and the investor shall be entitled only to such dividend if any as may be derived therefrom.
(iv) Subject to the provisions of the last preceding sub-clause (iii) and the rule 5 (f) (iii), where the ticket is incomplete as to any of the required particulars or the ticket or any of the required particulars thereon are in the opinion of the Board ambiguous, the investor shall be entitled only to a refund.
(v) If the ticket is issued and the details of amounts of individual investments recorded thereon do not agree with the recorded total of the amounts on the ticket, the details shall prevail and the ticket shall be treated accordingly.
(h) Any ticket, when presented for a dividend or refund or for the correction of an alleged error, may be rejected without any payment made thereon if it has been altered or defaced. - Payment of Dividends and Refunds in Respect of Cash Investments
(a) Dividends and refunds in respect of cash investments will be paid from such convenient time as the Board may decide.
(b) Dividends will be payable at the totalisator agency from which the ticket was issued for a period of 4 weeks from the date of the meeting concerned.
(c) Payment will be made on production of the ticket and will be in cash or may at the option of the Board be by cheque. Payment shall be made in New Zealand in New Zealand currency.
(d) Dividends and refunds not claimed or paid within the period of 4 weeks as aforesaid may be claimed on production at the totalisator agency where the investment was made of the ticket in respect of which the payment is due and the completion by the claimant of such written form of application as the Board may require.
Dividends and refunds not claimed within 6 months from the date of the meeting concerned shall be deemed to be forfeited to the Board. - Provisions Relating to Investments by Telephone
A. GENERAL
(i) Investments by telephone will be accepted at such totalisator agencies as may be nominated by the Board for that purpose but only against a deposit previously established at such agency or against dividends and refunds credited to such deposit account.
(ii) Depositors will use only the telephone numbers notified to them.
(iii) The person in charge may refuse to accept any deposit or, having accepted such, may refund the deposit or any balance thereof at his discretion and without giving any reason therefor. He may restrict acceptance of deposits or telephone instructions to those received from persons connected to particular telephone exchanges.
(iv) Subject to the special provisions relating to doubles investments, investments or the cancellation of investments may be made by telephone at any time during the business hours of the totalisator agency up to the closing time of that agency for the race concerned.
(v) A separate record will be kept of each deposit account and of the investments made against it.
(vi) Dividends and refunds will be credited to depositors' accounts as soon as practicable on the day of the race concerned or thereafter.
(vii) No instructions or amendments to previous instructions will be acted upon unless received by telephone.
B. PROCEDURE FOR OPENING OR RENEWING A DEPOSIT ACCOUNT
(i) Application to open a deposit account must be in writing giving the information required in the form required by the Board and must be signed by the applicant.
(ii) The application must be accompanied by a deposit of at least $4.
(iii) Subject to any determination of the Board in respect of any type of cheque, or other instrument for payment of money when a cheque is received as a deposit no investment against that deposit will be accepted until the cheque is cleared.
(iv) The depositor will be given a receipt for the amount deposited.
(v) The depositor may be allotted or required to nominate a code, and to give instructions as to the balance, if any, to be carried forward in his account from time to time.
(vi) Any depositor desiring to renew or increase his deposit may do so by forwarding or paying the additional amount to the totalisator agency concerned or so authorised and by advising his account number and name.
(vii) At the option of the Board any depositor may be required to submit a further application amending any or all of the particulars required to be given. The depositor may also revoke the original application and replace it by a new one on satisfying the Board that there is reasonable need of it for its own protection. In either case any amounts standing to the credit of the depositor will be transferred to his credit in the new account.
C. PROCEDURE FOR INVESTING AGAINST DEPOSITS
(i) The depositor must state his account number and as may be requested, his name or code.
(ii) The depositor is required to supply the following information—the race meeting, the race at that meeting and the name or code number of the horse, the amount of the investment, and whether for win, place, or doubles, and/or such other information as may be required to identify the investment to be made.
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VUW Te Waharoa —
NZ Gazette 1973, No 84
NZLII —
NZ Gazette 1973, No 84
✨ LLM interpretation of page content
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Rules Relating to Investments at or Through Totalisator Agencies
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🏭 Trade, Customs & IndustryInvestments, Totalisator Agencies, Betting Rules, Cash Investments, Telephone Investments