not twisting words Leggy, it does say with NZTR approval, so its consistent with the racing act. what i was trying to say is that its the Club that determines where the proceeds go, not NZTR - well thats how i read it anyhow, i stand to be corrected but i would of thought that the Club makes the call and that has to be approved by NZTR.
as an aside, if a club has in its rules that the members decides where the proceeds go and has no mention of NZTR/ approval from the regulatory body/racing code, does the Racing Act override those rules ?
FYI TOM - i dont disagree with you regarding NZTR/NZRB wasting money, i was merely stating my view on the wording of the dissolution section of the templates