Plain language law

New Zealand law explained for everyone

Racing Industry Act 2020

Racing - Transfer of assets and surplus venues - Transfer of surplus venues

26: Transfer of surplus venue by agreement

You could also call this:

“Racing clubs can give away extra racecourses to their racing group”

You can transfer a surplus venue if you’re a racing club. You do this by making a written agreement with your racing code. The racing code is the group you’re registered with.

If there’s anything in your club’s constitution that doesn’t match the agreement, the agreement wins. This means the agreement is more important than your club’s rules.

When you’re talking about transferring a surplus venue, you and your racing code need to follow any rules that have been set. These rules might tell you how to do the transfer or what things to think about.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292071.

Topics:
Money and consumer rights > Gambling Business > Industry rules
Previous

25: Transfer of assets if racing clubs combine, or

"Racing clubs can share their stuff when they join together"

Next

27: Transfer of surplus venues by Order in Council, or

"The Governor-General can step in to move unused racetracks to new owners when people can't agree"

Part 2 Racing
Transfer of assets and surplus venues: Transfer of surplus venues

26Transfer of surplus venue by agreement

  1. A racing club may, by written agreement with the racing code with which it is registered, transfer a surplus venue owned by the racing club to that code.

  2. To the extent that an agreement entered into under subsection (1) is inconsistent with the provisions or requirements (if any) of the racing club’s constitution, the agreement prevails.

  3. When conducting negotiations for the transfer of a surplus venue, the racing code and racing club must comply with the prescribed process or criteria (if any) in relation to the transfer of surplus venues under this subpart.

OSZAR »