Racing Board and Racecourses Act, 1945

Application of funds of the Board.

16.—(1) The Board may apply its funds for all or any of the following purposes, that is to say:—

(a) the payment of expenses incurred by it in the exercise and performance of its powers and duties under this Act,

(b) the payment of any moneys in accordance with the terms of any totalisator licence held by it,

(c) the making of payments, grants or loans for all or any one or more of the following purposes—

(i) the increase of stake-money and prizes at horse races held at authorised racecourses,

(ii) the reduction of entrance fees and similar charges in respect of such horse races,

(iii) the carriage of horses competing at such race meetings,

(iv) the reduction of the charges to the public for admission to authorised racecourses,

(v) the improvement of authorised racecourses and the amenities thereof,

(vi) any other purpose, approved by the Minister, conducive to the improvement of horse-racing,

(vii) any purposes, approved by the Minister, conducive to the improvement of the breeding of horses or to the development of the export trade in horses.

(2) The Board may attach to any grant or loan made or proposed to be made by it under this section such conditions as the Board thinks proper.