WHEREAS the use of 3rd party staking services has increased over the last number of years;
AND WHEREAS the ORC wishes to ensure that staking payments made to 3rd parties are processed and notification made in a timely way;
TAKE NOTICE that Standardbred Rule 16.18 is hereby immediately amended to ensure that all staking payments made are properly accounted;
AND FURTHER TAKE NOTICE that the ratification of the amended Rule 16.18 by the Board of the Ontario Racing Commission shall occur on Thursday, February 23, 2012;
Chapter 16
ADDED MONEY EVENTS
Rule 16.18 Nomination and sustaining payments must be received by the sponsor not later than the hour of closing, except those made by mail or by electronic transaction. Payments made by mail must bear a postmark dated thereon not later than the hour of closing. Payments made by electronic transaction to a third party providing a staking service must be processed and the sponsor notified, not later than the hour of closing. In the event the hour of closing falls on a Saturday, Sunday or legal holiday, the hour of closing shall be extended to the same hour of the next business day. The hour of closing shall be midnight of the due date.
BY ORDER OF THE COMMISSION
John L. Blakney
Executive Director