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AUSTRALIAN JOCKEY AND SYDNEY TURF CLUBS MERGER ACT 2010 - SECT 7
Financial arrangements for racecourse improvements
(1) The Minister is authorised, on behalf of the State, to enter into an
arrangement with the relevant parties for the provision of financial
assistance for the purpose of making improvements to Randwick Racecourse and
Rosehill Gardens Racecourse.
(2) The following are specifically authorised by
this Act for the purposes of the Trade Practices Act 1974 of the Commonwealth
and the Competition Code of New South Wales : (a) any arrangement entered into
under subsection (1),
(b) the conduct of the Minister, any relevant party or
any agent in negotiating and entering into any such arrangement,
(c) the
conduct of any party to the arrangement (including the Minister) or any agent
in giving effect to the arrangement.
(3) Anything authorised to be done by
subsection (2) is authorised only to the extent to which it would otherwise
contravene Part IV of the Trade Practices Act 1974 of the Commonwealth or the
Competition Code of New South Wales .
(4) In this section:
"arrangement" includes agreement and understanding.
"giving effect to" an arrangement includes: (a) complying with any obligation
under the arrangement, and
(b) exercising or enforcing any right or power
under the arrangement.
"relevant parties" means each of the following: (a) Racing New South Wales,
(b) TAB Limited (ACN 081 765 308),
(c) the merged racing club (or a company
that the Minister anticipates will be declared to be the merged racing club
under section 8).
"Rosehill Gardens Racecourse" means the racecourse known as
Rosehill Gardens Racecourse that was owned by the STC at the time this Act was
enacted, and includes: (a) the Rosehill Gardens Event Centre, and
(b) any
other buildings, structures, fixtures, fittings and other improvements on the
racecourse.
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