On top of this, many have their eyes fixed on whether the current board of directors of QR, who voted themselves into another 10 years of power at a controversial meeting last month, will remain.

The government, acting on a complaint by retired Supreme Court judge Bill Carter originally called in the Crime and Misconduct Commission (CMC), but the case was later hand balled to ASIC.

In the end, if ASIC decides not to lay charges; it will be a decision for Treasurer Andrew Fraser.

The industry, one of the biggest in the state, is in virtual uproar.

Opposition spokesman for racing Mike Horan added more fuel to the rort allegations when he told parliament last week that the Queensland Jockeys Association had not had a meeting before their proxy vote was tendered at the meeting.

Very few trainers in the state were aware of the QR meeting yet their proxy was delivered and somewhat surprisingly voted in favour of the board staying for another 10 years.

There are other allegations of incorrect voting procedures that Mr Horan has described as a blatant grab for power.

He told the Treasurer: “You ignored warnings about this disgraceful attempt by QR to grab for itself extended tenure- and you did nothing”.

“Now you know that the Country Racing was denied its vote, the president of the Townsville Turf Club was blocked from voting and the trainers and jockeys did not meet to determine their vote.”

*Full story in this week’s North Queensland Register, out now.