52   Harness Racing Benevolent Fund

(1)  There is to be established by HRNSW, in an authorised deposit-taking institution in New South Wales, a fund to be called the “Harness Racing Benevolent Fund”.

(2)  There is to be paid into the Benevolent Fund:

(a)  any money received by HRNSW for payment into the Benevolent Fund, and

(b)  any money acquired by HRNSW on trust or subject to a condition that it be applied in or towards the assistance of a person to whom subsection (4) (a) applies, and

(c)  any money received by HRNSW:

(i)  in respect of any loan advanced from money within the Benevolent Fund, and

(ii)  in payment of interest on any such loan, and

(iii)  in payment of any charges, costs and expenses incurred in respect of any such loan, and

(d)  the income derived from the investment of any money within the Benevolent Fund.

(3)  If money in the Benevolent Fund:

(a)  was paid into the Fund under subsection (2) (b), and

(b)  is, under the terms of a trust, or by virtue of a condition, to which HRNSW has agreed, required to be applied in or towards the assistance of a specified person or a specified class or description of persons, being a person or persons from within the class of persons to whom subsection (4) (a) applies,

      that money (together with any interest or income derived from the investment of that money) is to be carried to a separate account in the Fund established for the purpose of the trust or of fulfilling the condition.

(4)  There may be paid out of the Benevolent Fund:

(a)  in respect of money that has not been carried to a separate account in the Benevolent Fund, grants or loans (whether with or without interest) to any person who is in indigent circumstances and who is or has, at any time, been:

(i)  an owner, trainer or driver of harness racing horses, or

(ii)  a person employed in a stable of harness racing horses, or

(iii)  a person who has rendered valuable service to harness racing, or

(iv)  a dependant of a person referred to in subparagraph (i), (ii) or (iii), and

(b)  in respect of money which has been carried to a separate account within the Benevolent Fund, that money (and any interest or income derived from the investment of that money) subject to the trust or condition on which that money is held.