Totalizator Act 1997

The Racing Assistance Fund under the Totalizator Act 1916 is continued under this Act. Accordingly, money and assets standing to the credit of the fund under the Totalizator Act 1916 become money and assets standing to the credit of that fund under this Act.

The Minister may, from time to time, apply any amount standing to the credit of the Racing Assistance Fund—

in the payment of contributions or rebates to or on behalf of racing clubs (in accordance with a formula determined by the Minister) towards the costs of controlling race meetings, and

in the payment of contributions to research organisations towards the costs of conducting research into racing animals.

On a day appointed by proclamation for the purposes of this clause, the Racing Assistance Fund is to be wound up and any money or other assets standing to the credit of the fund are to be applied as the Minister directs by order in writing published in the Gazette.