NEW ZEALAND GAZETTE, No. 77 — 23 JULY 2015

(a) The Dividend Pool shall be distributed equally amongst those units of betting that have selected the First Four Placings in the correct order in the First4 Race, provided that the sum of those winning units of betting is equal to or greater than the Dividend Unit.

(b) Where the sum of winning units of betting is less than the Dividend Unit, the Dividend Pool will be declared as the Dividend and winning units of betting will receive their proportional share of the Dividend Pool. The balance of the Dividend Pool, less any Guaranteed Pool Shortfall (which will be returned to the Code Prize Reserve Pool), will be carried forward and added to the Subsequent First4 Dividend Pool.

(c) If no unit of betting has selected the First Four Placings in the correct order in a First4 Race, the Dividend Pool, less any Guaranteed Pool Shortfall (which will be returned to the Code Prize Reserve Pool), will be carried forward and added to the Subsequent First4 Dividend Pool.

(d) In circumstances where a Dividend Pool is terminating and there are no Winners, ie countback provisions have been exhausted, and the Dividend Pool is distributed amongst all units of betting, eg the winning permutation is Any/Any/Any/Any, then the dividend may be less than the dividend unit.

11.12.5 [DELETE] – Dead Heats

If a dead heat or dead heats occur in a First4 Race:

(a) Units of betting entitled to a Dividend will be those which correctly selected all places from first to fourth not affected by the dead heat or dead heats and which also selected the Entrants involved in each dead heat in the placings affected by that dead heat. For example, if a dead heat occurs for second place, units of betting entitled to a Dividend will be those which selected first and fourth correctly and which also selected the Entrants involved in the dead heat in second and third places in either order; and

(b) The Dividends will be calculated by firstly dividing the Dividend Pool into a number of parts corresponding to the number of combinations that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.12.5(a); and

(c) Each unbacked combination that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.12.5(a) will be carried forward to and added to the First4 Dividend Pool of the Succeeding First4 Race as determined by Board Policy.

(d) Which results in there being more than twelve winning combinations in a First4, for the purpose of the declaration of dividends:

(i) All placings that result in there being more than twelve winning combinations in that First4 will not be taken into account; and

(ii) The Dividends will be calculated by firstly dividing the Dividend Pool into a number of parts corresponding to the number of combinations that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.12.5(a)

(iii) Each unbacked combination that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.12.5(a) will be carried forward to and added to the First4 Dividend Pool of the Succeeding First4 Race as determined by Board Policy.

11.12.5 [INSERT] - Dead Heats

If a dead heat or dead heats occur in the First Four Places in a First4 Race:

(a) The number of unique permutations of Race Entrants filling or sharing First, Second, Third and Fourth Places (the Winning Permutations) will be greater than one, eg if there is a dead heat for First Place there will be two Winning Permutations; the two Race Entrants involved in the dead heat finishing First and Second, in either order, together with the Race Entrant that placed Third and the Race Entrant that placed Fourth. Each Winning Permutation is entitled to a Dividend.

(b) However, should the number of Winning Permutations determined by 11.12.5(a) be greater than twelve, then the Placing(s) that caused the number of Winning Permutations to exceed twelve, will not be taken into account, eg if there is a triple dead heat for First and a triple dead heat for Fourth, the Fourth placing causes the number of Winning Permutations to reach eighteen and therefore fourth placing will not be taken into account, leaving six Winning Permutations; the three Race Entrants involved in the triple dead heat for First finishing First, Second and Third in any order, together with any Race Entrant in Fourth.

(c) To calculate the Dividends attributable to each Winning Permutation, the Dividend Pool will be divided into the number of equal parts corresponding to the number of Winning Permutations determined by 11.12.5(a) and (b). Each part Dividend Pool may contain a pro rata part of any Guaranteed Pool Shortfall and each Winning Permutation together with their corresponding part Dividend Pool and part Guaranteed Shortfall shall be respectively treated as the First Four Placings, Dividend Pool and Guaranteed Pool Shortfall for the purposes of calculating Dividends in accordance with Rule 11.12.4.

11.12.7 [DELETE] – Abandonments