(1)  A bookmaker's liability to pay a winning bet arises as soon as correct weight is declared or the all-clear is given for –

(a) the relevant race; or

(b) in the case of a bet in respect of more than one race, the last relevant race.

(2)  A bookmaker must pay the full amount of a winning bet to a bettor except where the amount payable includes a fraction of 10 cents, in which case the payment must be made to the nearest 5 cents.