Totalizator Act 1916 Rule relating jackpot pool deductions for golden superfecta races (1995-642) [GG No 131 of 27.10.1995] (NSW)

1995—No. 642

TOTALIZATOR ACT 1916—RULE

(Relating to jackpot pool deductions for golden superfecta races)

NEW SOUTH WALES

[Published in Gazette No. 131 of 27 October 1995]

HIS Excellency the Lieutenant-Governor, with the advice of the Executive Council, and in pursuance of the Totalizator Act 1916, has been pleased to make the Rule set forth hereunder.

JACK RICHARD FACE, M.P.,

Minister for Gaming and Racing.

The Totalizator Rule 1993 is mended:

(a) by inserting after clause 2 (2) of Schedule 6 the following subclause:

(3) However, subclause (2) does not apply in respect of a

golden superfecta race.

(b) by omitting clause 6 (2) (d) of Schedule 6 and by inserting instead the following paragraph:

(d) if no investor has selected the first 6 finishers in any order-into the golden superfecta pool for the next golden superfecta race.

EXPLANATORY NOTE

Under the Totalizator Rule 1993, 10 per cent of the amount of each superfecta investment pool (less commissions and refunds) is deducted from the pool and carried over to the jackpot pool for the next superfecta race of the same type. However, because a golden superfecta race is the last in a series of superfecta races conducted by a race club, the 10 per cent jackpot deduction does not carry over to the next superfecta race.

The object of this Rule is to allow the total mount of any previous jackpot pool to be paid out in respect of golden superfecta races.

This Rule is made under the Totalizator Act 1916, including section 20 (the general rule-making power).