50. For the purposes of promoting and assisting the horse racing industry in Québec, a corporation established for such purposes whose shares are wholly owned by the Société des loteries et courses du Québec shall receive, for each fiscal period of the Government commencing after 31 March 1982, out of the consolidated revenue fund, an amount equal to 2.2% of the value of the total stake, before any deduction prescribed or permitted by any other Act, for all horse races held in Québec during that of the two preceding calendar years in which that total stake was highest.
The payment of that amount is made in three instalments, to wit, 50 per cent on 1 April, 25 per cent on 1 June and 25 per cent on 1 September.
In addition, that corporation shall receive, out of the consolidated revenue fund, when the Minister of Finance so indicates, any additional amount determined by him without, however, for a fiscal period, the total of these additional amounts exceeding 0.3% of the value of the total stake used to establish, for that fiscal period, the amount of 2.2% mentioned in the first paragraph.
Every department or agency of the Crown prescribed by regulation which administers a program designed to promote and assist the horse racing industry in Québec shall receive, for each fiscal period of the Government commencing after 31 March 1982, out of the amount of 2.2% mentioned in the first paragraph, an amount determined by the Minister of Finance.
1975, c. 28, s. 1; 1978, c. 38, s. 33; 1980, c. 14, s. 18; 1982, c. 56, s. 28.