Singapore legislation

Clause 108

Credit, etc.

(1)

Except to the extent that this section or regulations relating to credit allow, no casino operator, licensed junket promoter, agent of a casino operator or casino employee shall, in connection with any gaming in the casino —

(a)

accept a wager made otherwise than by means of money or chips;

(b)

lend money or any valuable thing;

(c)

provide money or chips as part of a transaction involving a credit card;

(d)

extend any other form of credit; or

(e)

except with the approval of the Authority, wholly or partly release or discharge a debt.

(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 —

(a)

money;

(b)

a cheque payable to the casino operator; or

(c)

a traveller’s cheque.

(3)

The casino operator may issue to a person who establishes a deposit account and debit to the account chip purchase vouchers, cheques 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 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:

(a)

money;

(b)

cheque payable to the casino operator;

(c)

chip purchase vouchers;

(d)

chips.

(6)

The casino operator —

(a)

shall, within the time specified by the Authority by notice in writing 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

(b)

shall not agree to the redemption of such a cheque for the purpose of avoiding compliance with paragraph (a).

(7)

Notwithstanding anything in this section, a casino operator or a licensed junket promoter may provide chips on credit to a person —

(a)

who is not a citizen or permanent resident of Singapore (as defined in section 116(9)); or

(b)

who is a premium player,if the casino operator or licensed junket promoter (as the case may be) and the person satisfy the requirements of any relevant controls and procedures approved by the Authority under section 138.

(8)

Any ––

(a)

casino operator who contravenes subsection (1) or (6); or

(b)

licensed junket promoter, agent of a casino operator or casino employee who contravenes subsection (1),shall be ––

(i)

liable to disciplinary action, in the case of a casino operator, licensed special employee or licensed junket promoter; or

(ii)

guilty of an offence, in any other case.

(9)

Any person who ––

(a)

provides chips on credit to persons other than as permitted in subsection (7)(a) or (b) shall be deemed to be a moneylender for the purposes of the Moneylenders Act (Cap. 188); and

(b)

lends money in accordance with this section shall be deemed not to be a moneylender for the purposes of the Moneylenders Act.

(10)

In this section, “cheque” means a cheque (other than a traveller’s cheque) that —

(a)

is drawn on an account of an authorised bank for a specific amount payable on demand; and

(b)

is dated but not post-dated.

Read in full context — Casino Control Bill →