In order for New Zealand to complete a racing reform, the Minister for Racing introduced the Racing Industry Bill, a second piece of legislation to regulate it.
New Zealand.- A two-part legislative process may soon rebuild the governance structure of horse racing in the country. That’s why New Zealand’s Minister for Racing, Winston Peters, has introduced the Racing Industry Bill.
The proposed legislation is the second part of the whole process. According to RITA chair Dean McKenzie, it will help ensure the sustainability of the racing industry.
“The revitalisation of the New Zealand racing industry is well underway. Mainly thanks to the commitment and support of the Government,” McKenzie said. “The nature of changes proposed are considered so substantive that a new Racing Act is recommended in the Bill.
“The new Bill is the culmination of the most significant reform of racing since 2003. Furthermore, it follows the Racing Reform Act which came into force on July 1 and included the gradual repeal of the betting levy. Also, enabling regulations for a Point of Consumption Charge and Betting Information Use Charges.”
“The racing industry in New Zealand contributes lots of money to the economy. It provides a livelihood for 14,000 industry participants, and is an important part of our heritage,” he said. “The Government’s support of racing will help lead to increased employment and improved exports. Most importantly, a general increase in the industry’s already significant contribution to New Zealand.
“RITA looks forward to contributing to the Select Committee process and enabling legislation that reforms the racing industry so that it is revitalised, healthy and financially viable once again.”