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RACING ACT 2002 - SECT 12
Funding of country thoroughbred race meetings
12 Funding of country thoroughbred race meetings
(1) This section applies if, during a financial year, the board is paid 1 or
more instalments under the Betting Tax Act 2018 , section 59B .
(2) The board
must apply an amount that is at least the prescribed amount to fund the
country thoroughbred race meetings held during the financial year. Note—
See also sections 44A and 84 for the board’s obligations to report on
matters relating to country thoroughbred race meetings and to include details
of country thoroughbred race meetings in the racing calendar prepared in
relation to thoroughbred racing.
(3) A regulation may provide for the
prescribed amount to be increased each financial year by the
prescribed percentage.
(4) In this section—
"prescribed amount" means the amount prescribed by regulation.
"prescribed percentage" means the percentage prescribed by regulation.
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