Hong Kong Ordinances

BETTING DUTY ORDINANCE - SECT 6GF

Calculation of net stake receipts

(1) The net stake receipts that are derived from the conduct of authorized
betting on horse races by a horse race betting conductor in respect of a
charging period are calculated by using the following mathematical formula—
Q – Y where— Q represents the total amount of bets that—

   (a)  are accepted in relation to the conduct of authorized betting on horse
        races by the conductor; and

   (b)  are relevant to that charging period; Y represents the total amount of
        dividends and of rebates on bets that have, within that
        charging period, become payable by the conductor.

(2) For the purpose of this section, if—

   (a)  a horse race betting conductor’s licence is revoked or otherwise
        terminated; and

   (b)  after the termination, the company to which the licence was issued
        becomes liable to pay a dividend or a rebate on a bet that was
        accepted before the termination, the dividend or rebate is taken to
        have become payable within the last  charging period. (Division 2A
        added 17 of 2006 s. 15)