Plain language law

New Zealand law explained for everyone

Racing Industry Act 2020

Racing - Transfer of assets and surplus venues - Transfer of surplus venues

32: Effect of transfer of surplus venue

You could also call this:

“Special rules make it easier to transfer a racing venue when it's no longer needed”

When a racing venue is transferred as surplus, some special rules apply. These rules are set by the government and they make the transfer easier.

You don’t need extra permissions to transfer the venue, even if other laws or agreements say you do. The racing club might give the venue to the racing code without getting anything back.

Any trusts that were connected to the venue end when it’s transferred. There might be rules about how the venue can be used after it’s transferred, or what to do with money if it’s sold.

If the whole venue is transferred, the racing code becomes the new owner. This is recorded in official property records. If only part of the venue is transferred, a new property record is created for that part.

The transfer doesn’t break any laws about dividing up land or changing how it’s used. It also doesn’t put anyone in trouble for breaking contracts or sharing information they shouldn’t.

The transfer can’t be used as a reason to end contracts or change when things need to be done. It doesn’t release anyone from their responsibilities or make any contracts invalid.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292077.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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31: Minister must appoint reviewer before recommending order, or

"The Minister must choose a fair expert to review racing venue transfers"

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33: Racing codes must prepare property investment strategy in respect of transferred assets and venues, or

"Racing groups need to make and share plans for their new properties"

Part 2 Racing
Transfer of assets and surplus venues: Transfer of surplus venues

32Effect of transfer of surplus venue

  1. This section applies to a transfer proposal approved by Order in Council made under section 27 and the transfer of a surplus venue in accordance with that section.

  2. The transfer is not affected by, and may proceed regardless of, any requirements for additional consents under any enactment or agreement.

  3. The transfer proposal may provide that the racing club is to transfer the surplus venue to the racing code without receiving in return any, or an equivalent, asset.

  4. Any trusts applying to the surplus venue are extinguished on the transfer date.

  5. The transfer proposal may impose restrictions on, or requirements relating to, the use of the surplus venue or on the use of proceeds from any sale of the surplus venue (for example, requiring the proceeds to be used for the purposes of developing or maintaining other racing venues).

  6. Subsection (7) applies to a surplus venue vested under this subpart, but only to the extent that the surplus venue is all of the land contained in a record of title for a fee simple estate.

  7. The Registrar-General must, on written application by a person authorised by the Minister,—

  8. register the racing code as the owner of the fee simple estate in the surplus venue in substitution of the racing club; and
    1. record any entry on the record of title and do anything else that may be necessary to give effect to this subpart.

      1. Subsection (9) applies to a surplus venue vested under this subpart, but only to the extent that subsection (6) does not apply to the venue.

      2. The Registrar-General must, in accordance with a written application by a person authorised by the Minister and on payment of the prescribed fee (if any)—

      3. create a record of title for the fee simple estate in a surplus venue in the name of the racing code; and
        1. record on the record of title any interests that are registered, noted, or to be noted and that are described in the application.

          1. Subsection (9) is subject to the completion of any survey necessary to create a record of title.

          2. A record of title must be created under subsection (9) as soon as is reasonably practicable after the transfer date.

          3. Section 11 and Part 10 of the Resource Management Act 1991 do not apply to—

          4. the vesting of a surplus venue under this subpart; or
            1. any matter incidental to, or required for the purpose of, the vesting.

              1. Without limiting any other provision of this subpart, the transfer of the surplus venue must not be regarded as placing the racing club or the racing code, or any of its officers, employees, or agents, in breach of any Act, rule of law, or agreement that would otherwise apply.

              2. Nothing effected or authorised by section 27—

              3. places the racing club or any other person in breach of contract or confidence or otherwise makes any of them liable for a civil wrong; or
                1. gives rise to a right for any person to terminate, cancel, or modify a contract, or to accelerate the performance of an obligation; or
                  1. places the racing club or any other person in breach of an enactment, rule of law, or contractual provision prohibiting, restricting, or regulating the assignment or transfer of property or the disclosure of information; or
                    1. releases a surety wholly or in part from any obligation; or
                      1. invalidates or discharges any contract.

                        Notes
                        • Section 32(12) heading: replaced, on , by section 6 of the Resource Management (Natural and Built Environment and Spatial Planning Repeal and Interim Fast-track Consenting) Act 2023 (2023 No 68).
                        • Section 32(12): replaced, on , by section 6 of the Resource Management (Natural and Built Environment and Spatial Planning Repeal and Interim Fast-track Consenting) Act 2023 (2023 No 68).