This legislation has been repealed.
(1) Before 1 August in
each year the Association shall prepare a scheme setting out the
Association’s proposals as to the disbursement of moneys estimated by
the Association as likely to be received from the Totalisator Agency Board in
respect of the financial year commencing on that day.
(2) Any disbursement
made by the Association shall be made in accordance with the scheme, but the
scheme may from time to time be amended by the Association.
(3) In amending a
scheme the Association shall take into account any disbursement or interim
payment which has already been made under the earlier editions of that scheme.