QLDIn ForceRegulation
Racing Regulation 2023
sec.3Prescribed amount— Act , s 12
Start here
Get a plain-English read of sec.3
Turn the raw legal text into a practical explanation grounded in Racing Regulation 2023.
### sec.3 Prescribed amount— Act , s 12
For section 12 (4) of the Act , definition prescribed amount , the amount is—
for the financial year starting on 1 July 2023—$20.4m; or
for any later financial year—the amount for the previous financial year, increased by the prescribed percentage and rounded to the nearest cent (rounding one-half upwards).
- (a) for the financial year starting on 1 July 2023—$20.4m; or
- (b) for any later financial year—the amount for the previous financial year, increased by the prescribed percentage and rounded to the nearest cent (rounding one-half upwards).