(7) American currency

7.1 Only licensees that conduct bingo or break open tickets from border cities where the majority of bingo players are American may accept American currency for the payment of bingo paper and break open tickets.

7.2

1. Licensees or HCAs whose member organizations accept American currency must maintain a separate DLTA or CDTA in American funds for the purpose of depositing all funds received in American currency and replenishing the float required in American funds. The account must meet all other requirements of these Standards.
2. No withdrawals, by cheque or otherwise, shall be made from this account except as provided for in these Standards.

7.3

1. The maximum amount that may be on deposit in the American account at any time must not exceed the licensee’s estimated prize board.
2. Deposits in excess of the estimated prize board (including interest) must be withdrawn and deposited into the DLTA or CDTA in Canadian currency.

7.4 All expenses must be paid in Canadian currency only, drawn on the Canadian DLTA or CDTA.

7.5 For the purposes of calculating the adjusted gross receipts, the daily “buying” exchange rate set by the chartered banks must be used. This information must be obtained on a daily basis.

7.6 All players purchasing bingo paper or break open tickets in American currency must be paid prizes in American currency and may be paid from the cash proceeds or from the American DLTA or CDTA.