New South Wales Consolidated Acts

AUSTRALIAN JOCKEY AND SYDNEY TURF CLUBS MERGER ACT 2010 - SECT 12

12 Interpretation

(1) In this Division:

"conduct" includes any act or omission.

"member" means:

(a) in relation to the AJC--a member of the AJC under its club rules and includes any person who was previously a member of the former AJC under its club rules, and

(b) in relation to the STC--a member of the STC within the meaning of the Sydney Turf Club Act 1943 .

"officer" means:

(a) in relation to the AJC--a director or secretary of that company within the meaning of the Corporations Act and includes any person who was previously a Chairman of the Committee of the former AJC or any other member of that Committee, and

(b) in relation to the STC--a director of the STC within the meaning of the Sydney Turf Club Act 1943 .

"transferable assets" means:

(a) all of the assets vested (whether absolutely or contingently or in full or in part) in, or otherwise held by, the AJC immediately before the merger finalisation day (including any lease of Randwick Racecourse granted to the AJC under the Australian Jockey Club Act 2008 ), and

(b) all of the assets vested (whether absolutely or contingently or in full or in part) in, or otherwise held by, the STC immediately before the merger finalisation day.

"transferable business undertakings" means all of the following:

(a) the transferable assets,

(b) the transferable rights,

(c) the transferable liabilities,

(d) the transferable regulatory authorisations.

"transferable liabilities" means all of the liabilities of the AJC and the STC immediately before the merger finalisation day.

"transferable regulatory authorisations" means all regulatory authorisations in force that are held by or on behalf of the AJC or STC immediately before the merger finalisation day, including (without limitation) each of the following:

(a) any licence held by or on behalf of the AJC or STC that is in force under the Liquor Act 2007 ,

(b) any poker machine entitlements or licences held by or on behalf of the AJC or STC under the Gaming Machines Act 2001 ,

(c) any licence held by or on behalf of the AJC or STC that is in force under the Betting and Racing Act 1998 ,

(d) any licence held by or on behalf of the AJC or STC that is in force under the Totalizator Act 1997 .

"transferable rights" means all of the rights of the AJC and the STC immediately before the merger finalisation day.

(2) A reference in this Division to the Australian Jockey Club Act 2008 or the Sydney Turf Club Act 1943 is a reference to that Act before it ceases to have effect under section 39.

(3) A reference in this Division (however expressed) to the assets, rights or liabilities of the AJC includes a reference to:

(a) any assets, rights or liabilities of the former AJC that became the assets, rights or liabilities of the AJC by virtue of the operation of Part 3 of the Australian Jockey Club Act 2008 (including any assets, rights or liabilities vested in or held by, or exercisable by or against, an officer of the former AJC and to which section 23 of that Act applied immediately before the merger finalisation day), and

(b) any potential assets, rights or liabilities of the former AJC that would have become the assets, rights or liabilities of the AJC by virtue of the operation of Part 3 of the Australian Jockey Club Act 2008 had that Part continued in force.