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 Winner in each of the four Races of the Quaddie, 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 the winning units of betting will receive their proportional share of the Dividend Pool. The balance of the Dividend Pool will be carried forward and added to the Dividend Pool of the Succeeding Quaddie Race as determined by Board policy.

(c) If no unit of betting has selected the Winners in all four Races of the Quaddie, the Dividend Pool shall be carried forward and added to the Dividend Pool of the Succeeding Quaddie Race as determined by Board policy.

(d) In circumstances where the 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, then the dividend may be less than the dividend unit.

11.13.4 [INSERT] - Dividend Pool

Subject to Rule 11.13.5 relating to Dead Heats and Rule 11.13.9 relating to Termination, the Dividend Pool shall be distributed as follows:

(a) The Dividend Pool shall be distributed equally amongst those units of betting that have selected the Winner in each of the four Races of the Quaddie, 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 the winning units of betting will receive their proportional share of the Dividend Pool. The balance of the Dividend Pool will be added to the Code Prize Reserve Pool.

(c) If no unit of betting has selected the Winners in all four Races of the Quaddie, the Dividend Pool will be added to the Code Prize Reserve Pool.

(d) In circumstances where the 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, then the dividend may be less than the dividend unit.

11.13.5 [DELETE] – Dead Heats

If a dead heat occurs in one or more Quaddie Races:

(a) The Dividend 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 11.3.4 and, secondly, dividing each part of the Dividend Pool by the number of actual bets which specified the respective combination.

(b) Each unbacked combination that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.13.4 will be carried forward to and added to the Quaddie Dividend Pool of the Succeeding Quaddie Race as determined by Board Policy.

(c) Which results in there being more than eight winning combinations in a Quaddie, for the purpose of the declaration of dividends:

(i) All placings that result in there being more than eight winning combinations in that Quaddie 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 11.13.4;

(iii) Each unbacked combination that would entitle a unit of betting specifying one of those combinations to a Dividend under Rule 11.13.4 will be carried forward to and added to the Quaddie Pool of the Succeeding Quaddie Race as determined by Board Policy.

11.13.5 [INSERT] – Dead Heats

If a dead heat occurs in one or more Quaddie Races:

(a) The number of unique permutations of Race Entrants filling or sharing First in each Quaddie Race (the Winning Permutations) will be greater than one, eg if there is a dead heat for First in the first Quaddie Race there will be two Winning Permutations; the two Race Entrants involved in the dead heat separately with the other three winners of the remaining Quaddie Races. Each Winning Permutation is entitled to a Dividend.

(b) However, should the number of Winning Permutations determined by 11.13.5(a) be greater than eight, then the Quaddie Race that caused the number of Winning Permutations to exceed eight, as well as any