Singapore legislation
Section 108
Section 108
Credit, etc.
(1)
Except to the extent that this section or regulations relating to credit allow, a casino operator, licensed international market agent, agent or employee of a licensed international market agent, agent of a casino operator or casino employee must not, in connection with any gaming in the casino —
accept a wager made otherwise than by means of money or chips;
lend money or any valuable thing;
provide money or chips as part of a transaction involving a credit card; or
extend any other form of credit.
(2)
A casino operator may establish for a person a deposit account to which is to be credited the amount of any deposit to the account comprising any one or more of the following:
money;
a cheque payable to the casino operator; (c)a traveller’s cheque;
chips.
(3)
The casino operator may issue to a person who establishes a deposit account and debit to the account chip purchase vouchers, cheques, chips or money, not exceeding in total value the amount standing to the credit of the account at the time of issue of the vouchers, cheques, chips or money.
(4)
The casino operator may, in exchange for a cheque payable to the casino operator or a traveller’s cheque, issue to a person chip purchase vouchers of a value equivalent to the amount of the cheque or traveller’s cheque.
(5)
A cheque accepted by the casino operator may, by agreement with the casino operator, be redeemed in exchange for the equivalent in value to the amount of the cheque of any one or more of the following:
money;
cheque payable to the casino operator;
chip purchase vouchers;
chips.
(6)
The casino operator —
must, within the time specified by the Authority by written notice given to the casino operator for the purposes of this subsection, deposit with an authorised bank a cheque accepted by the casino operator under this section; and
must not agree to the redemption of such a cheque for the purpose of avoiding compliance with paragraph (a).
(7)
Despite this section, a casino operator may provide chips on credit to a person —
who is neither a citizen of Singapore nor a permanent resident of Singapore (as defined in section 116(12));
who is a premium player; or
who is a licensed international market agent for the performance of the person’s functions as an international market agent.
(8)
Despite this section, a licensed international market agent may provide chips on credit to a person who is neither a citizen of Singapore nor a permanent resident of Singapore (as defined in section 116(12)).
(9)
Where credit is provided under subsection (7) or (8), the casino operator or licensed international market agent providing the credit must do so in accordance with the prescribed requirements relating to credit.
(10)
Any —
casino operator which contravenes subsection (1), (6) or (9);
licensed special employee or licensed international market agent representative who contravenes subsection (1); or
licensed international market agent which or who contravenes subsection (1) or (9),shall be liable to disciplinary action.
(11)
Every casino operator is liable for every act, omission, neglect or default of any agent of the casino operator or casino employee under this section, as fully and effectually as if the act, omission, neglect or default were done or committed by the casino operator.
(12)
Every licensed international market agent is liable for every act, omission, neglect or default of any agent or employee of the licensed international market agent under this section, as fully and effectually as if the act, omission, neglect or default were done or committed by the licensed international market agent.
(13)
Nothing in subsection (11) or (12) affects any liability of the agent of the casino operator, casino employee or agent or employee of the licensed international market agent by the operation of any other law.
(14)
Any person who —
provides chips on credit to persons other than as permitted in subsection (7) or (8) is deemed to be a moneylender for the purposes of the Moneylenders Act 2008; and
lends money in accordance with this section is deemed not to be a moneylender for the purposes of the Moneylenders Act 2008.
(15)
In this section, “cheque” means a cheque (other than a traveller’s cheque) that —
is drawn on an account of any bank for a specific amount payable on demand; and
is dated but not post-dated.