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Racing Industry Act 2020

Racing - Racing New Zealand, racing codes, and racing clubs - Racing codes

18: Annual report

You could also call this:

“Racing codes must give a yearly report to the Minister about their activities and money”

Each racing code has to give a report to the Minister every year. This report tells the Minister about what the racing code did and how well it did in the past year.

The report must include three important things. First, it needs to show the racing code’s financial statements and the report from someone who checked these statements. Second, it has to explain how the racing code made sure that small racing clubs had a say in big decisions. Third, it needs to talk about how the racing code used its plan for investing in property during that year.

After the Minister gets this report and the financial statements, they have to show it to the House of Representatives as soon as they can.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS315130.

Topics:
Money and consumer rights > Gambling Business > Industry rules
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Part 2 Racing
Racing New Zealand, racing codes, and racing clubs: Racing codes

18Annual report

  1. Each racing code must, as soon as practicable after the end of each racing year, provide the Minister with an annual report on its operations and performance during that year.

  2. The annual report must include—

  3. the financial statements of the code and the audit report on those statements; and
    1. a report on the measures taken by the code to ensure adequate involvement and representation of small racing clubs in the code’s decision making; and
      1. a report on the implementation of the code’s property investment strategy prepared under section 33 in that racing year (as applicable).

        1. The Minister must present a copy of the annual report and financial statements to the House of Representatives as soon as practicable after receiving the report and statements.