Racing Industry Bill

37 Funding of Board

(1)

TAB NZ must, in each racing year, provide an amount of funding agreed between TAB NZ and the Board to enable the Board to perform its functions under this Act efficiently and effectively.

(2)

For the purposes of subsection (1), the Board must prepare a budget in accordance with its business plan for approval by the Minister.

(3)

Before providing the budget to the Minister, the Board must consult TAB NZ and each of the racing codes on its proposed budget.