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TOTALIZATOR AGENCY BOARD PRIVATISATION ACT 1997
- As at 22 November 2018
- Act 43 of 1997
TABLE OF PROVISIONS
Long Title
PART 1 - PRELIMINARY
1. Name of Act
2. Commencement
3. Objects of Act
4. Definitions
5. Minister
PART 2 - (Repealed)
None
PART 3 - MANAGEMENT OF TAB BEFORE CONVERSION TO COMPANY
10. Directors and meetings of TAB before conversion to company
11. (Repealed)
PART 4 - CONVERSION OF TAB TO COMPANY
12. TAB taken to be registered under Corporations Law as public company
13. New name of TAB
14. Memorandum and articles of TAB Limited to have effect
15. Membership of TAB Limited
16. Minister may act for State as shareholder
17. Continuity of TAB and construction of references to TAB
18. Continuity of contracts and arrangements
19. (Repealed)
PART 5 - MANAGEMENT OF TAB LIMITED AFTER CONVERSION AND BEFORE SALE
20. When Part applies
21. Ministerial control of TAB Limited
22. Status of TAB Limited
23. Application of certain provisions of State Owned Corporations Act 1989 to TAB Limited
PART 6 - REORGANISATION OF TAB BUSINESS UNDERTAKING IN CONNECTION WITH CONVERSION AND SALE OF TAB
24. Minister may direct transfer of parts of TAB business undertaking to TAB subsidiary
25. Minister may direct transfer of parts of business undertaking of TAB subsidiary to other subsidiaries or to TAB
26. Allocation of transferred assets to capital and reserves
27. Time when transfers may be effected
PART 7 - EXCLUSION OF PARTS OF BUSINESS UNDERTAKING FROM TAB OR TAB SUBSIDIARY
28. Excluded undertakings
29. Time when exclusion may be effected
30. Sale or retention of excluded undertaking
31. TAB or subsidiary may act with respect to excluded undertaking
PART 8 - SALE OF TAB LIMITED BY PUBLIC FLOAT
Division 1 - Sale process
32. Sale of TAB Limited by public float
33. State may dispose of its shares
34. (Repealed)
35. No government guarantees
Division 2 - Maximum shareholding restrictions
36. Definitions
36A. References to Corporations Law in this Division
37. Application of Division
37A. Exemption for nominated company
38. Prohibited shareholding interest
39. Power to require information relating to entitlement to shares in TAB Limited
40. Substantial shareholders to give notice to Minister
41. Disposal, forfeiture etc of shares where prohibited shareholding interest
42. Effect of prohibited shareholding on voting and dividend rights
43. Making, review and revocation of declarations by Minister
44. Appeal against declarations of Minister
45. Sale of forfeited shares
45A. Excluded matters for the purposes of the Corporations Act 2001 of the Commonwealth
46. Immunity of Minister and TAB Limited and its officers and auditors
47. Service
Division 3 - Results of sale
48. Proceeds of the sale
49. Staff remaining with TAB Limited
PART 9 - VESTING OF UNDERTAKING ON TRANSFER
50. Application and interpretation
51. Vesting of undertaking in transferee
52. Transfer of staff
53. Consideration for vesting
PART 10 - MISCELLANEOUS
54. Act binds Crown
55. Subsidiary companies
56. Protection of contractual and other obligations
57. Auditor-General authorised to communicate information regarding TAB
58. Exemptions from tax for conversion documents and other documents
59. Certificate evidence
60. Proceedings for offences
61. Savings, transitional and other provisions
62. Regulations
SCHEDULE 1
Schedule 4 (Repealed)
SCHEDULE 5
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