s 15–s 16 · 2 sections
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Calculation of dividend
Open ↗15.—(1) It is the duty of every totalisator agency operating a totalisator to pay out by way of dividend all moneys received from investments on the totalisator after deducting —(a)
the amount of any gambling duty charged under the Gambling Duties Act 2022; and[Act 1 of 2022 wef 29/07/2022]
(b)
the amount of any commission prescribed, or determined in any manner prescribed, in any regulations made under section 24.[Act 14 of 2022 wef 01/08/2022]
(2) It is not necessary to pay out fractions of a dollar.
(3) [Deleted by Act 14 of 2022 wef 01/08/2022]
Proportion of deduction from investment to belong to Board
Open ↗16. The sums deducted by way of commission in accordance with section 15(1)(b), together with any fractional money arising pursuant to the operation of section 15(2), are deemed for all purposes to belong to and form part of the general funds of the Board and may be apportioned between the Board and the totalisator agency in such proportion and in such manner as the Minister may approve.[13
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
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