Variation of the Singapore Totalisator Scheme

Status:

Published in Subsidiary Legislation Supplement
on 01 Mar 2005

No. S 104

Singapore Totalisator Board Act

(Chapter 305A)

Variation of the Singapore Totalisator Scheme

Pursuant to section 11(5) of the Singapore Totalisator Board Act, it is hereby notified for general information that the Singapore Totalisator Board has, with the approval of Mr Raymond Lim Siang Keat, Senior Minister of State, Ministry of Foreign Affairs, charged with the responsibility of the Second Minister for Finance, varied the Singapore Totalisator Scheme, with effect from 1st March 2005, in the manner set out in paragraph 2.

2. The Schedule to the Singapore Totalisator Scheme (Sch 1) is varied —

(a)

by inserting, immediately after the definition of “field betting” in paragraph 1.15 in Part I, the following definition:

“(1.15A)

“flexibet” or “partial unit bet” means that fraction of a unit bet and minimum amount which the Club announces it will accept with respect to certain bet types when the bets are placed.”;

(b)

by inserting, immediately after the definition of “horse No.” in paragraph 1.16A in Part I, the following definition:

“(1.16B)

“jackpot” means the money from one pool where all the winning combinations which are unbacked is to be carried forward to the next pool and is to be aggregated to the net pool of the next pool.”;

(c)

by inserting, immediately after the definition of “system betting” in paragraph 1.29 in Part I, the following definition:

“(1.29A)

“unit bet”, in respect of each bet type, means the minimum amount fixed by the Club as the amount on which dividends will be calculated.”;

(d)

by inserting, immediately after by-law 2.20 in Part II, the following by-law:

“(2.20A) The Club may determine, from time to time, the unit bet, flexibet or partial unit bet for each bet type.”; and

(e)

by deleting by-law 2.25 in Part II and substituting the following by-laws:

“(2.25) Dividends will be declared on the unit bet. Dividends on bets of higher value than the unit bet will be in the same multiple of the dividend declared on the unit bet as the higher value of bet is of the unit bet. A flexibet or partial unit bet on the winning combination will be paid such proportion of the dividend on the unit bet as the flexibet or partial unit bet is of the unit bet.

(2.25A) If the total number of correct bets in the pool is less than a unit, the winning flexibets or partial unit bets will be paid dividends in such proportion of the net pool as the flexibets or partial unit bets are of the unit bet. The unpaid balance of the net pool will be carried forward to the next pool unless otherwise determined by the Board.”.

[G.N. Nos. S 506/2000; S 280/2001; S 674/2002; S 602/2003; S236/2004]

Made this 25th day of February 2005.

LORETTA BOON

Director
(Regulation and Finance),
Singapore Totalisator Board.

[MF F15.4.2220 V1; AG/LEG/SL/305A/2002/1 Vol. 1]

Search within Legislation