Horserace Betting Levy Board

Levy Reform/Replacement : Racecourse Loans

The Board agreed that it would not commence a process of inviting applications from racecourses for new loans for the time being at least.

Remuneration Committee Report

The Board noted the report on the activity of the Remuneration Committee

Strategic Risk Register

The Board approved the Strategic Risk Register as at March 2016, confirming that in its view, the stated risks were within acceptable parameters.

Income & Expenditure 2016/17

The Board agreed that there should be no expenditure reductions in calendar year 2016.

Betfred Contribution

The Board approved the proposal from Betfred that, for its pool betting operation, the successor company to the Horserace Totalisator Board would contribute, in respect of the UK based off-course horserace betting business, as if it were a bookmaker for the purposes of the 55^th Levy Scheme.

Capital Credits Applications

The Board approved       

a. A Capital Credit Grant to Salisbury racecourse of £144,964 subject to the Executive’s receipt of appropriate documentation.

b. A Capital Credit Grant to Newbury racecourse of £1,731,470 subject to the Executive’s receipt of appropriate documentation.

Veterinary Science and Education

The Board agreed that applications for grant funding for 2016/17 be invited, with caveats as regards the future of the Levy and available funding; and approved the proposed process for the appointment of a new VAC Chair.

The Board approved grants for the following proposals

a. To fund the second year of a project for assessing tendon health and injury: £70,307

b. To fund a project regarding Inflammatory Airway Disease: £121,528

c. To fund an additional Clinical Research Scholarship: £144,237

Professor Celia Marr and Professor Colin Farquharson, Chair and Deputy Chair of the VAC, made a presentation to the Board. They referred to the importance of security of future funding; the independence of the research evaluation process; and potential future arrangements.