Plain language law

New Zealand law explained for everyone

Racing Industry Act 2020

TAB New Zealand

62: TAB NZ must prepare statement of intent

You could also call this:

“TAB NZ writes a yearly plan about its goals and shares it with important people”

You need to know about TAB NZ, which is an organisation involved in racing in New Zealand. Every year, before the racing year starts, TAB NZ must write a plan called a statement of intent. This plan is for the coming year and the next two years after that. They have to give this plan to the Minister.

The statement of intent needs to include several things for each year it covers. It must say what TAB NZ wants to achieve, what kind of work they will do, and how they will measure if they’re doing a good job. It also needs to explain how they will keep track of their money.

Before TAB NZ finishes this plan, they have to talk to the racing codes. Racing codes are different types of racing, like horse racing or greyhound racing. TAB NZ needs to share their ideas with these racing codes and listen to what they think. However, if TAB NZ already has an agreement with the racing codes about how to talk about the plan, they can follow that agreement instead.

When TAB NZ talks to the racing codes, they have to give them a copy of the plan they’re thinking about. They need to give the racing codes at least 15 working days to think about it and share their ideas. If there are any disagreements, TAB NZ needs to meet with the racing codes to talk about them.

After the Minister gets the final plan, they need to show it to the House of Representatives as soon as they can. The House of Representatives is where the country’s laws are made.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292110.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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Part 3 TAB New Zealand

62TAB NZ must prepare statement of intent

  1. Before the start of a racing year, TAB NZ must prepare and provide the Minister with a statement of intent relating to that year and to each of the 2 subsequent racing years.

  2. The statement of intent must set out, for each racing year to which it relates,—

  3. the objectives of TAB NZ:
    1. the nature and scope of the activities to be undertaken:
      1. the performance targets and other measures by which its performance may be judged in relation to its objectives:
        1. a statement of accounting policies.

          1. In preparing the statement of intent, TAB NZ must consult each of the racing codes on the proposed statement.

          2. However, subsection (3) applies in respect of a racing code only if there is no provision in any commercial agreement between TAB NZ and that racing code or all racing codes providing for consultation by TAB NZ with that racing code or all racing codes on the development of the statement of intent.

          3. In carrying out consultation required under subsection (3) or by the commercial agreement referred to in subsection (4), TAB NZ must—

          4. give each racing code a copy of the proposed statement of intent; and
            1. provide each code with a reasonable period (not less than 15 working days) in which to provide comments to TAB NZ); and
              1. meet with each code (or all the codes) to discuss any matters of disagreement.

                1. The Minister must present a copy of the statement of intent to the House of Representatives as soon as practicable after receiving the statement.

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