Maintenance of accounts and computer users’ deposits

(1) Every licence holder shall establish an account with a bank for the purpose of processing the transactions of computer users. (2) Each computer user shall place on deposit in the said account funds sufficient to cover any wager the computer user may place. (3) The licence holder shall identify, by such means as may be acceptable to the Board, the funds on deposit for each computer user. 10 (4) There shall be no cash deposits by any computer user and funds may be placed on deposit only by cheque, cashier’s cheque, money order, wire transfer or other electronic means. (5) No funds shall be paid to any computer user in cash out of his deposit and shall be payable only by cheque, cashier’s cheque, money order, wire transfer or other electronic means. (6) There shall be no limit on the amount of funds a computer user may deposit into his account. (7) There shall be no limit on the amount which a computer user may wager against other users of computer internet provided that the total of all wagers placed by a computer user at any given time does not exceed the total amount of funds he has deposited into his account. (8) The licence holder may be required by the Board to provide a daily account of all computer user transactions, and balances of each computer user. (9) The licence holder may charge a service fee for the processing of each computer user’s transactions of an amount not exceeding 5 per cent of each transaction by a computer user, or the sum of US$20. whichever is greater. The service fee so imposed may be deducted from the computer user’s funds on deposit at the time a wager is confirmed.