Horse Racing and Betting Transformation Fund

“Horse Racing and Betting Transformation Fund” means the fund established by section 137 of the KWAZULU-NATAL GAMING AND BETTING ACT, 2010 (Act No. 08 of 2010) for the purposes of promoting opportunities for historically disadvantaged persons to participate in the horse racing and betting industries in the capacity of any of the persons required to be licensed or registered in terms of section 89, 94, 103, 110 or 111, to increase the ownership stakes of historically disadvantaged persons in the said industries and to develop appreciation for and knowledge of horse racing amongst all communities, particularly those comprising of historically disadvantaged persons;