New Zealand Gazette – 2009 – No. 68

Page 1533

✨ Betting Rules Amendments

15 MAY 2009 NEW ZEALAND GAZETTE, No. 68 1533

(i) A Syndicate Dividend will only be calculated after the Race Meetings have ended

(j) Each Syndicate Share shall be entitled to a unit of the Syndicate Dividend.

10.11.12 Calculation of Syndicate Dividend

(a) The Syndicate Dividend will be calculated by dividing the money in the Final Syndicate Pool by the amount of money in the Initial Syndicate Pool. For example:

Initial Syndicate Pool transferred to Syndicate Account: $30,000

Final Syndicate Pool: $45,000

Syndicate Dividend calculation is $45,000/$30,000 = $1.50

(b) If the Syndicate Dividend is calculated to be less than 10 cents (10c), then the Syndicate Dividend will be zero and no Syndicate Payout will be made.

10.11.13 Payment of Syndicate Dividends and Refunds

(a) Syndicate Dividends will be made available for collection, or, in the case of a Syndicate Voucher purchased through a Betting Account, credited to an account, as soon as practicable after the Syndicate Dividend is confirmed.

(b) If a Syndicate Dividend is subsequently altered then the Account Holder will be liable to the Board for repayment of the Syndicate Dividend and the Board may set off that liability against any credit funds in the account.

(i) Syndicate Dividends and Refunds will be paid in cash, or may at the option of the Board, be by cheque, or electronic transfer as determined by the Board. Payment shall be made in New Zealand currency.

(ii) Syndicate Dividends and Refunds will be paid on production of the Syndicate Voucher within six months of the date of issue of the Syndicate Voucher.

(iii) Syndicate Dividends and Refunds not claimed within six months of the date of issue of the Syndicate Voucher will be retained by the Board, provided that they can be claimed on production of the Syndicate Voucher and completion of a written claim form as required by the Board.

Gazette.govt.nz — NZ Gazette 2009, No 68

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✨ LLM interpretation of page content

🏭 Amendments to the Betting Rules (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated14 May 2009
KeywordsRacing, Betting Rules, Syndicate Dividends, Syndicate Vouchers, Syndicate Investors, Betting Account, TAB National Syndicate

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