Reserves Act 1977

Classification and management of reserves - Special provisions as to recreation reserves set apart for racecourse purposes

68: Application of revenue

You could also call this:

"Using money from a recreation reserve to improve it and help the community"

When you are in charge of a recreation reserve used for a racecourse, you get money from rents and profits. You must put this money into a special bank account within 7 days of getting it. After paying for necessary expenses, you use the money to improve the reserve, such as fencing it, building stands, or making the racecourse better. You can use the money to make the reserve a better place for its purpose. You can also use some of the money for charitable, educational, or cultural purposes, but you need to get permission from the Minister first, and this can include money from the reserve's profits.

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This page was last updated on 18 September 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM444782.

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67: Leasing, or

"Leasing a recreation reserve means renting it out to someone for a set time and rules"

69: Annual statement of accounts and report, or

"Send yearly financial reports to the Auditor-General"

Part 3Classification and management of reserves
Special provisions as to recreation reserves set apart for racecourse purposes

68Application of revenue

All money received by the administering body of a recreation reserve set apart for racecourse purposes as the rents, issues, and profits of the reserve shall, within 7 days after receipt by the Treasurer or other proper officer of the administering body, be paid into such bank as that body from time to time appoints to an account to be called The [name of racecourse reserve] Trustees Account, and, after deducting therefrom all necessary expenses incurred in the management of the reserve, be applied in and towards the fencing of the reserve or any part thereof, the erection of stands and pavilions thereon, the cultivation and improvement thereof, and in rendering any part thereof that may be set apart as a racecourse suitable for that purpose.
The administering body may also, with the prior consent of the Minister, expend such part of its funds, including money to which subsection (1) applies, as it from time to time thinks fit towards the assistance of charitable, educational, or cultural purposes, or for the management, improvement, and maintenance of any reserve of any kind under this Act.

Notes

Section 68(2): amended, on 17 December 1985, by section 2(1) of the Reserves Amendment Act 1985 (1985 No 188).