Board Meeting Summary

Meeting Date: Wednesday 25th March 2015

Business Plan 2015/16

The Board agreed to defer the publication of the Business Plan 2015/16 pending further consideration of its financial position and provisional 2016 expenditure plans, including with reference to the expected outturn of the 53rd Levy Scheme.

Future of the Levy: Consultation Update

The Board discussed and noted Government’s announcement of the intention to replace the Levy system with a Horserace Betting Right to be administered directly by the Racing industry and agreed that further consideration of issues arising would take place following discussion with DCMS officials in due course.

Remuneration Committee Report

The Board noted the report from its Remuneration Committee.

Future Champions Weekend 2015

The Board formally confirmed its grant of £225,000 in prize money to Dubai Future Champions Weekend in 2015.

Prize Money Clawback

The Board agreed to seek further representations from the RCA and BHA with regard to the operation of the system for clawing back prize money grants from racecourses in certain circumstances relating to 2014 fixtures.