New Zealand Legislation: Acts

25 Distribution to clubs of funds received from Board

• (1) Each racing code is responsible for distributing among the racing clubs registered with the code the amounts received by it from the Board under section 17.

  (2) Each racing code must decide how much of any amount referred to in subsection (1) must be distributed among the racing clubs registered with it and the apportionment of that amount among those clubs.

  (3) The Board may, on the direction of a racing code, pay to a racing club the whole or part of an amount payable by the Board to the code under section 17, and any amount paid must be regarded as having been paid by the Board to the code under section 17 and by the code to the club in accordance with subsections (1) and (2).