16. THE RATING SYSTEM BASIC FRAMEWORK
16.1 The ratings framework has a range of rating points from 35 points (R35) minimum to 120 points (R120) maximum.
16.2 A qualified horse takes a maiden (non-winner) status, with no rating, and takes its place in a field based on the conditions of the race.
16.3 Horses enter system at 40 rating points (R40) after their maiden win.
16.4 Except as in this regulation, all winning horses will incur a five-point rating penalty.
16.5 Horses placed second to fifth will have no rating point change.
16.6 Horses placed sixth to last will lose one rating point.
16.7 Penalty free races are penalty free, i.e. no rating points incurred by the winner and no rating points deducted from any horse.
I thought it was penalty free for the winner. Like losing a rating point surely isn't a penalty LOL.