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Racing Industry Act 2020

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

27: Transfer of surplus venues by Order in Council

You could also call this:

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

This law talks about how to transfer a racing venue that’s not being used anymore. If a racing code (a group that organises races) tries to get a venue from a racing club, but the club won’t talk about it or they can’t agree, the Governor-General can step in to help.

The Governor-General can approve a plan to transfer the venue to the racing code. This plan needs to include details about the venue, who owns it, and any special rules about it. The plan might also say if the racing code should pay the club to help them race somewhere else, or pay someone else because the venue is important to the community.

If the plan is approved, the venue becomes the property of the racing code on a specific date. The racing code then has to make any payments mentioned in the plan. They also need to say how they’ll use any money they get if they sell the venue later.

If the racing code sells the venue, they can only use the money to fix up or build new racing venues in the same part of New Zealand. They can only use it somewhere else if there are no venues in that area that need work.

The Governor-General can change the plan if needed. These decisions are made official by an Order in Council, which is a type of law. The Order doesn’t need to include all the details of the plan, but it does need to say which plan it’s approving.

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

27Transfer of surplus venues by Order in Council

  1. This section applies if a racing code has made a reasonable attempt to negotiate the transfer of a surplus venue owned by a racing club (or clubs) to the code by agreement but—

  2. the club (or clubs) has refused to enter into negotiations for the transfer; or
    1. no agreement on the transfer has been reached.

      1. The Governor-General may, by Order in Council made on the recommendation of the Minister,—

      2. approve a proposal prepared by the racing code relating to the transfer of the surplus venue to the code (a transfer proposal), with or without modification; and
        1. state the date on which the transfer takes effect (the transfer date).

          1. A transfer proposal referred to in subsection (2) may be prepared by the code on its own initiative or at the request of the Minister.

          2. The transfer proposal must—

          3. state the names of the relevant racing code and racing club (or clubs); and
            1. contain a description of the 1 or more surplus venues or identify a means by which, or a document in which, the surplus venues are described; and
              1. in relation to each surplus venue,—
                1. give details of all legal interests in the venue; and
                  1. to the extent possible, give details of any beneficial interests in the venue and any restriction, charge, or other encumbrance relating to the venue; and
                  2. state whether either or both of the following payments are warranted and should be made by the code following the transfer:
                    1. a payment to the relevant club (or clubs) to enable it to race at another venue:
                      1. a payment to any person in recognition of a community interest in the surplus venue.

                      2. If the transfer proposal is approved under subsection (2),—

                      3. the surplus venue vests in the racing code on the transfer date, subject to any interests or encumbrances in existence on that date; and
                        1. the code must make a payment or payments (if any) referred to in subsection (4)(d)(i) and (ii); and
                          1. the racing code must, subject to the restriction in subsection (6), state how it intends to apply the proceeds from any subsequent sale of the surplus venue in its property investment strategy prepared under section 33.

                            1. The proceeds of the sale of a surplus venue vested in a racing code under subsection (5) must only be used to repair, upgrade, or construct another racing venue located in the same region of New Zealand as the venue vested in the racing code unless the code is satisfied that no further racing venues need to be constructed in that region or any existing racing venues in that region do not need repair or upgrading in the foreseeable future.

                            2. The Governor-General may, by Order in Council made on the recommendation of the Minister, approve an amendment to a transfer proposal approved under subsection (2) and, if approved, the amendment takes effect on a date specified in the order (which may be the transfer date or any later date).

                            3. An Order in Council made under this section must identify the transfer proposal or amendment approved, but need not incorporate it in the order.

                            4. An order under this section—

                            5. is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements); and
                              1. in the case of an order under subsection (7), may take effect in accordance with that subsection even if not yet published.

                                Notes
                                • Section 27(9): inserted, on , by section 3 of the Secondary Legislation Act 2021 (2021 No 7).
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