Singapore legislation
Regulation 5A
Regulation 5A
Credit qualifying programme for premium player who is either a citizen of Singapore or a permanent resident of Singapore
Subregulation 1
A casino operator may, on or after 30th April 2013, provide chips on credit to a premium player who is either a citizen of Singapore or a permanent resident of Singapore only in accordance with all of the following requirements relating to credit:
the premium player to be provided chips on credit by the casino operator must first register for a credit qualifying programme with the casino operator with respect to its casino and qualify for chips on credit under that programme;
the casino operator must be satisfied of that premium player’s creditworthiness based on its credit policy, procedures and controls referred to in regulation 12; and
the premium player has drawn down and utilised for gaming from his deposit account with the casino operator a sum of money (referred to in this regulation as the principal capital) of at least $100,000 before he is provided any chips on credit.
Subregulation 2
Where a premium player who is either a citizen of Singapore or a permanent resident of Singapore is registered for a credit qualifying programme with a casino operator with respect to its casino, the casino operator shall not, except with reasonable excuse, regard any winnings by that premium player from any gaming at the casino in determining the principal capital for the purposes of paragraph (1)(c).
Subregulation 3
Where a premium player who is either a citizen of Singapore or a permanent resident of Singapore qualifies for chips on credit under a casino operator’s credit qualifying programme, and he does not cease to qualify as a premium player under regulation 4(5), for the remainder of the period that he is a premium player —
he remains qualified for chips on credit with that casino operator; and
he does not have to re-register for a credit qualifying programme with the casino operator or re-qualify for chips on credit under that programme.
Subregulation 4
Notwithstanding paragraph (1), a premium player who is either a citizen of Singapore or a permanent resident of Singapore may continue to be provided chips on credit by a casino operator under any credit agreement entered into between that premium player and the casino operator before and subsisting on 30th April 2013 until the expiry or termination of the credit agreement provided that no amendment is made to the validity period or the maximum credit limit under the credit agreement.