Section 10 HORSE RACING ALBERTA ACT RSA 2000 Chapter H-11.3

 

 

(3) Any income earned from the money of the Corporation accrues to and belongs to the Corporation.

(4) The Corporation

(a) shall use its funds

(i) to pay for the expenses and costs incurred in carrying out the administration and management of the business and affairs of the Corporation, and
(ii) for the carrying out of the objects of the Corporation, and

(b) shall not directly or indirectly pay any dividend or other form of profit sharing to any member of the board or to any other person.

1996 cR-1.5 s9

Reports

10(1) The Corporation shall provide to the Minister annually the following reports, in the form and at the times acceptable to the Minister:

(a) a multi-year business plan and the measures to be used in assessing the performance of the Corporation;

(b) an annual report, including audited financial statements.

(2) When the Minister receives the annual report under subsection (1)(b), the Minister shall lay a copy of it before the Legislative Assembly if it is sitting and if it is not, within 15 days after the commencement of the next sitting.

(3) In addition to the reports referred to in subsection (1), the Corporation shall, at the request of the Minister, report on specific matters in the form and manner and at the times required by the Minister.

RSA 2000 cR-1 s10;2002 c22 s6

Gaming laws, etc.

11 The Corporation shall operate in accordance with the laws governing gaming and the policies and directions of the Government with respect to gaming.

1996 cR-1.5 s11