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New Zealand law explained for everyone

Racing Industry Act 2020

TAB New Zealand

58: Functions of TAB NZ

You could also call this:

“TAB NZ's jobs: planning races, managing betting, and helping the racing industry”

TAB NZ has several important jobs. You help decide when races will happen each year by working with the racing groups. You give out licences for betting. You share the money from betting with the racing groups. You run betting, broadcasting, and gaming, and you make rules about betting. You create or help create plans to reduce problem gambling and its effects. You make business deals with racing groups or Racing New Zealand. You also do any other jobs that the law gives you.

When you do these jobs, you must be fair and follow the rules of natural justice. You also need to think about what’s good for the communities where you work. This means you should act in a socially responsible way.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292106.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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57: Objectives of TAB NZ, or

"TAB NZ's main jobs: help people bet and make money to support racing and sports"

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59: Accounts and audit, or

"TAB NZ must create and check its money records each year"

Part 3 TAB New Zealand

58Functions of TAB NZ

  1. The functions of TAB NZ are—

  2. to set, in conjunction with each racing code, the racing calendar for each racing year:
    1. to issue betting licences:
      1. to distribute funds obtained from betting to the racing codes in accordance with section 71:
        1. to conduct betting, broadcasting, and gaming, and to make rules under Part 4 relating to betting:
          1. to develop or implement, or arrange for the development or implementation of, programmes for the purposes of reducing problem gambling and minimising the effects of that gambling:
            1. to enter into commercial agreements with each or all of the racing codes or Racing New Zealand (acting on behalf of the racing codes):
              1. to carry out any other functions conferred on it by or under this Act or any other Act.

                1. In carrying out its functions, TAB NZ must—

                2. comply with the principles of natural justice; and
                  1. exhibit a sense of social responsibility by having regard to the interests of the communities in which it operates.

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