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Racing Industry Act 2020

Racing - Racing integrity system - Racing Integrity Board

46: Funding of Board

You could also call this:

“How the Racing Integrity Board gets money to do its job”

The Racing Integrity Board needs money to do its job properly each year. TAB NZ has to give them this money. The amount of money is decided by the Minister.

To get this money, the Board has to make a plan for how they will spend it. This plan is called a budget. They need to show this budget to the Minister to get approval.

Before the Board can show their budget to the Minister, they have to do two things. First, they need to talk to TAB NZ and all the racing codes about what they want to spend. Second, they need to get TAB NZ to say it’s okay.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292091.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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Part 2 Racing
Racing integrity system: Racing Integrity Board

46Funding of Board

  1. TAB NZ must, in each racing year, provide an amount of funding approved by the Minister to enable the Board to perform its functions under this Act efficiently and effectively.

  2. For the purposes of subsection (1), the Board must prepare a budget in accordance with its business plan for approval by the Minister.

  3. Before providing the budget to the Minister, the Board must—

  4. consult TAB NZ and each racing code on its proposed budget; and
    1. obtain the approval of TAB NZ to the proposed budget.