Pursuant to section 52 of the Racing Act 2003, the Racing Industry Transition Agency hereby gives notice of the following amendments to the Betting Rules published as a Supplement to the New Zealand Gazette, 30 July 2007, No. 85, page 2215.

Deleted words are struck out and in red.

These amendments to the Equalisator Betting Rules are as follows:

3.1 In these Rules, unless the context otherwise requires:

[DELETE]

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“Board” means the New Zealand Racing Board as established under the Act.

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“RITA” means the Racing Industry Transition Agency

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Throughout the remainder of the Equalisator Betting Rules

[DELETE AND SUBSTITUTE]

All references to “the Board” or “the NZ Racing Board” throughout the Equalisator Betting Rules (except in Rule 3.1) are deleted and replaced with the word “RITA”.

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6 Conduct and operation of Equalisator betting

6.1 Requirements on clubs under the Racing Act 2003

The Racing club must comply with the provisions of Section 51 of the Racing Act 2003. This section is reproduced in full below:

51 Racing clubs may conduct equalisator betting

(1) A racing club that has a betting licence may conduct equalisator betting on races held by it on the date to which the licence relates and on the terms and conditions set out in the licence.
(2) A racing club may deduct from the bets made by way of equalisator betting, after first making any refunds of bets, an amount not exceeding 15% as commission for the club.
(3) Except as provided in rules made under section 52 stating the denomination to which dividends are to be rounded and paid out, a racing club must declare and pay out as dividends all money received by way of equalisator betting, after deducting all refunds of bets and the commission authorised by subsection (2).
(4) Every racing club, or member, officer, agent, or employee of a racing club commits an offence who knowingly makes, authorises, or permits any payment from money received by way of equalisator betting except in accordance with subsections (2) or (3).
(5) Every person who commits an offence against subsection (4) is liable on summary conviction,
a. In the case of a racing club, to a fine not exceeding $3,000:
b. In the case of a member, officer, agent, or employee of a racing club, to a fine not exceeding $1,500.

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6 Conduct and operation of Equalisator betting

6.1 Requirements on clubs under the Racing Act 2003

The Racing club must comply with the provisions of Section 51 of the Racing Act 2003. This section is reproduced in full below:

51 Racing clubs may conduct equalisator betting

(1) A racing club that has a betting licence may conduct equalisator betting on races held by it on the date to which the licence relates and on the terms and conditions set out in the licence.
(2) A racing club may deduct from the bets made by way of equalisator betting, after first making any refunds of bets, an amount not exceeding 15% as commission for the club.
(3) Except as provided in rules made under section 52 stating the denomination to which dividends are to be rounded and paid out, a racing club must declare and pay out as dividends all money received by way of equalisator betting, after deducting all refunds of bets and the commission authorised by subsection (2).
(4) Every racing club, or member, officer, agent, or employee of a racing club commits an offence who knowingly makes, authorises, or permits any payment from money received by way of equalisator betting except in accordance with subsections (2) or (3).
(5) Every person who commits an offence against subsection (4) is liable on conviction,
a. In the case of a racing club, to a fine not exceeding $3,000:
b. In the case of a member, officer, agent, or employee of a racing club, to a fine not exceeding $1,500.

These Rules come into force on 31 October 2019.

Full copies of the Equalisator Betting Rules may be inspected on request at the RITA offices.

Further enquiries can be made to Racing Industry Transition Agency, PO Box 38899, Wellington Mail Centre, Lower Hutt 5045.

Dated at Wellington this 24th day of October 2019.

JOHN ALLEN, Chief Executive of the Racing Industry Transition Agency.