Part 4
Betting and TAB venues
Betting:
General provisions
86Amounts of dividends
Except in any circumstances that TAB NZ may specify by notice in the Gazette, TAB NZ must not pay out by way of dividend an amount less than the amount invested for any bet on which a dividend is payable.
Rules made under section 76 or 78 must state the denomination to which dividends will be rounded and paid out by TAB NZ or, in the case of equalisator betting, a racing club.
All amounts not payable as part of a dividend because of rounding in accordance with rules made under section 76 or 78 may be retained by TAB NZ, or the racing club conducting equalisator betting, and must be regarded for all purposes as part of TAB NZ’s or the racing club’s funds.
Compare
- 2003 No 3 s 60