Racing Act 2003 No 3 (as at 07 July 2010), Public Act

15 Board may maintain reserves
  • (1) The Board may maintain 1 or more reserves with the name or names, and containing an amount or amounts, that the Board considers appropriate.

    (2) The Board may credit to a reserve any amount that it considers appropriate from any surpluses retained by it under sections 53(2) and 57(2), or any other source whether capital or income.