30 SEPTEMBER 2009 NEW ZEALAND GAZETTE, No. 144 3389

LEASING

422 (1) If a lease is entered into in respect of a registered horse, the Owner(s) and lessee(s) must apply, on the prescribed form, to NZTR for registration of the lease. The application form must:

(a) be accompanied by payment of the applicable fee set by NZTR, from time to time;

(b) state the full name of:

(i) every Owner of the horse;

(ii) every lessee of the horse; and

(iii) any other person who has an interest (directly or indirectly) in the horse;

(c) be signed by each person named as an Owner or lessee of the horse on the application form;

(d) nominate a Racing Manager for the horse if it is leased by a Legal Ownership Entity or there are two or more lessees; and

(e) specify whether the lessee is registered under the Goods and Services Tax Act 1985, and if so specify its Good and Services Tax registration number.

(2) If a Legal Ownership Entity is the lessee or a lessee of the horse (or otherwise has an interest in the horse), then the application for registration of the relevant lease must be accompanied by the full name of every person who:

(a) has a legal or beneficial interest (directly or indirectly, whether as a shareholder or otherwise) in that Legal Ownership Entity; and

(b) is a member of the board of directors or other governing body of that Legal Ownership Entity.

(3) NZTR may require an application for registration of a lease to be verified by way of statutory declaration by the lessee(s), Owner(s), or Trainer of the horse and/or for such other particulars or information concerning:

(a) the horse;

(b) the lessee(s) of the horse or any other person with a legal or beneficial interest in the lease of that horse;

(c) any Legal Ownership Entity which has a legal or beneficial interest in the horse, and, in the case of any such Legal Ownership Entity, the persons referred to in sub-Rule (2) of this Rule; and

(d) the nominated Racing Manager of the lessees for the horse (if one is required under these Rules),

to be disclosed to it as NZTR may require in its absolute discretion.

(4) A lease of a horse shall only be registered on the approval of NZTR.

(5) A natural person may have an interest in a horse as lessee for the purposes of racing only if he has attained the age of 18 years.

(6) A person to whom any of the sub-Rules 411(b)(i) to (vi) applies may not be:

(a) a lessee of, or otherwise have a legal or beneficial interest in the lease of, a horse;

(b) a shareholder of, or otherwise have a legal or beneficial interest (directly or indirectly) in a Legal Ownership Entity that is a or the lessee of, or which otherwise has a legal or beneficial interest in the lease of, a horse; or

(c) a Racing Manager of a horse for the lessees of the relevant horse.

(7) NZTR has complete discretion whether or not to approve the registration of a lease of a horse, and may approve registration of a lease on such terms and conditions as it sees fit in its absolute discretion, including (but not limited to) requiring a guarantee or other security in a form acceptable to it, in its absolute discretion, from such person or persons as it may require (including, if applicable, the directors and shareholders or any other persons with Ownership interests in any Legal Ownership Entity which is a or the lessee of the horse).