sec.12Funding of country thoroughbred race meetings

### sec.12 Funding of country thoroughbred race meetings This section applies if, during a financial year, the board is paid 1 or more instalments under the Betting Tax Act 2018 , section 59B . The board must apply an amount that is at least the prescribed amount to fund the country thoroughbred race meetings held during the financial year. See also sections 44A and 84 for the board’s obligations to report on matters relating to country thoroughbred race meetings and to include details of country thoroughbred race meetings in the racing calendar prepared in relation to thoroughbred racing. A regulation may provide for the prescribed amount to be increased each financial year by the prescribed percentage. In this section— prescribed amount means the amount prescribed by regulation. prescribed percentage means the percentage prescribed by regulation. s 12 ins 2012 No. 42 s 11 sub 2016 No. 12 s 307 ; 2022 No. 30 s 71 (sec.12-ssec.1) This section applies if, during a financial year, the board is paid 1 or more instalments under the Betting Tax Act 2018 , section 59B . (sec.12-ssec.2) The board must apply an amount that is at least the prescribed amount to fund the country thoroughbred race meetings held during the financial year. See also sections 44A and 84 for the board’s obligations to report on matters relating to country thoroughbred race meetings and to include details of country thoroughbred race meetings in the racing calendar prepared in relation to thoroughbred racing. (sec.12-ssec.3) A regulation may provide for the prescribed amount to be increased each financial year by the prescribed percentage. (sec.12-ssec.4) In this section— prescribed amount means the amount prescribed by regulation. prescribed percentage means the percentage prescribed by regulation.