Steps to be taken to obtain Preliminary Approval:
- The Applicant files a Letter of Intent with the Registrar, indicating the Applicant’s intent to apply for a Licence to Operate a Racetrack
- The Registrar will supply the Applicant with the required forms, information and requirements for attaining Preliminary Approval
- The Applicant submits all Stage 1 Required Documents, as described in Appendix A
- The material will be assessed by the Administration to:
- Determine a preliminary estimate of the licensing fees as prescribed under subsection 12(3) of the Act
- Assess on the preliminary basis the completeness of the materials
- The applicant will be informed by letter of the fees required and any additional requirements for filing. Note: the fees are considered an estimate of the costs of the inquiries. At any time in the investigation, particularly where new filings on ownership and financing are received, the Registrar may determine that returned to the applicant upon the completion of the investigation
- Once all the necessary material has been submitted and the fees have been received, the file will be forwarded to the AGCO Investigative Unit to conduct the due diligence investigation
- Acting on the material filed and the results of the investigation, the Registrar will make a decision on the applicant’s suitability for licensing. If approved, the applicant will receive Preliminary Approval for a Licence to Operate a Racetrack
If the Registrar decides not to approve the application, a Notice of Proposed Order to Refuse to Licence will be issued, and the applicant then has 15 days to request a hearing in respect of the Registrar’s refusal.
Circulation of Application
A circulation of the application to the industry will take place once the Registrar is satisfied as to the suitability of the Applicant to be licensed. Industry participants will be invited to make submissions (in writing) by an established date. All submissions will be provided to the Applicant. The Registrar may also determine other means of soliciting input, including holding a public forum.
The purpose of the public circulation is to provide the Registrar with further information in arriving at their decision to grant Final Approval and licence the Applicant.
Preliminary Approval Issued
Preliminary Approval is issued in the form of a letter and will stipulate certain terms and conditions that must be met before Final Approval for a Licence to Operate a Racetrack is issued. The terms and conditions of the Preliminary Approval must also be agreed upon by the applicant and could include, but is not limited to, the following:
- Filing of some or all of the materials listed under Stage 2, Required Documents in Appendix A
- Consent to a public forum on the application
- A commitment to building new facilities to standards and acceptance of the Administration
- Submission of any new investors and/or owners for due diligence
- Approval of race dates
- Backstretch Security Plans, approved by the Administration
- Racetrack Maintenance Plans, approved by the Administration
- Track readiness - documentation that the track is ready for racing and has been inspected and approved by the local horsemen’s group and the Administration
The Registrar will work with the Applicant to determine appropriate filing dates for certain requirements under the terms and conditions, as they relate to the milestones of the project plan filed with the AGCO.
Steps to be Taken to Obtain Final Approval
The Applicant will work with the Registrar and the Administration to satisfy the terms and conditions set out in the Letter of Preliminary Approval. At any time the Registrar may require further filings, as necessary, to satisfy as to the suitability of the Applicant for licensing.