Singapore legislation
Section 15
Section 15
Calculation of dividend
(1)
It is the duty of the Board and any 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 duty charged under the Betting and Sweepstake Duties Act 1950; and
(b)
the amount of any commission prescribed, or determined in any manner prescribed, in any regulations made under section 24.
(2)
It is not necessary to pay out fractions of a dollar.
(3)
Any investment on any horse which is scratched or otherwise withdrawn in accordance with the rules issued, approved or modified under section 4(1)(f) must be refunded without deduction of such duty and commission mentioned in subsection (1). [12