The Foreign Corrupt Practices Act of 1977 resulted from bribery of foreign government officials by Lockheed Aircraft Company. This Act is designed to prevent the bribing of foreign officials in order to obtain foreign government contracts. Payments to foreign officials for “facilitation,” often referred to as grease payments, are not prohibited under FCPA so long as these payments are made only to get officials to do their normal jobs that they might not do, or would do slowly, without some payment. These payments can be made only to secure a permit or license; obtain paper processing; secure police protection; provide phone, water, or power supply; or similar such actions.
The International Federation of Horseracing Authorities (IFHA) brings together some 60 horseracing authorities ('jockey clubs') from 55 countries. The legislation was also intended to prevent and curb unlawful bookmaking and illegal wagering on horse races and ensure that off-track betting (OTB) activities.Horse racing, sport of running horses at speed, mainly Thoroughbreds with a rider astride or Standardbreds with the horse pulling a conveyance with a driver. If you loan out your Suffolk for breeding you must have a written agreement in place between you the person to whom you loan the horse. Many of our best horses are now sold to race there, where racing is much more profitable than in the United Kingdom. (NYRA), the operator of Belmont Park. Breeding, racing, revenues, and purse's if the horse racing industry is left out.