Victorian Current Acts Victorian Current ActsSchedule 7—Sixth deed of variation to the management agreement
MELBOURNE CASINO PROJECT
DEED dated 3 April 2000
BETWEEN THE HONOURABLE JOHN PANDAZOPOULOS MP , the Minister of the Crown for the time being administering the Casino Control Act acting for and on behalf of the State of Victoria ( 'State' )
AND CROWN LIMITED ACN 006 973 262 with its registered office at Level 2, 54 Park Street, Sydney, New South Wales ( 'Company' )
RECITALS
A. The State and the Company entered into an agreement dated 20 September 1993 ratified by and scheduled to the Casino (Management Agreement) Act 1993 ( 'Management Agreement' )
B. The Management Agreement has been varied by:
(a) a deed of variation dated 14 November 1994 ratified by and scheduled to the Casino (Management Agreement Amendment) Act 1994 and inserted as a schedule to the Casino (Management Agreement) Act 1993 ;
(b) a deed of variation dated 12 October 1995 ratified by and scheduled to the Casino (Management Agreement) (Further Amendment) Act 1995 and inserted as a schedule to the Casino (Management Agreement) Act 1993 ;
(c) a deed of variation dated 3 June 1996 ratified by the Gaming Acts (Amendment) Act 1996 and inserted as a schedule to the Casino (Management Agreement) Act 1993 ;
(d) a deed of variation dated 7 November 1996 ratified by the Casino (Management Agreement) Amendment Act 1996 and inserted as a schedule to the Casino (Management Agreement) Act 1993 ; and
(e) a deed of variation dated 1 October 1998 ratified by the Gaming Acts (Further Amendment) Act 1998 and inserted as a schedule to the Casino (Management Agreement) Act 1993 .
C. The parties have agreed to further vary the Management Agreement as provided in this Deed of Variation.
AGREEMENT
1. Definitions
Unless the context otherwise requires or the contrary intention appears, terms defined in the Casino Control Act or the Management Agreement have the same meaning when used in this document.
2. Ratification and operation of provisions
2.1 A Minister of the State must introduce and sponsor a Bill in the Parliament of Victoria to ratify this document as soon as reasonably practicable after its execution and the operation of this Deed is subject to the Bill receiving the Royal Assent on or before 1 July 2000.
2.2 Except for clause 3, this Deed of Variation shall come into operation on the date shown at the commencement of the document. Clause 3 shall come into operation on 1 July, 2000.
3. Variation of Management Agreement
The State and the Company agree to vary the Management Agreement by:-
(a) Inserting in clause 2 the following definitions:
"GST" has the same meaning as in the GST Act;
"GST Act" means the A New Tax System (Goods and Services Tax) Act 1999 (Commonwealth);
"Global GST Amount" has the same meaning as in the GST Act;
"Intergovernmental Agreement" means the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations executed in June 1999; and
"State Tax Credit" means an amount equivalent to the amount determined under Division 126 of the GST Act, declared by the Company to the Commissioner as the Global GST Amount with respect to gambling supplies to which clauses 22 and clause 22A apply;
(b) renumbering clause 22C as clause 22D and by inserting a new clause 22C as follows:
"22C GST Offset and Intergovernmental Agreement with the Commonwealth
22C.1 The Intergovernmental Agreement requires the State to adjust its gambling tax arrangements to take account of the GST on gambling operations.
22C.2 The total amount of casino tax as described in and calculated under clauses 22 and 22A shall be reduced by the State Tax Credit calculated with respect to gambling supplies to which those clauses apply. The State Tax Credit will be allowed as a reduction in the total amount of casino tax payable under clauses 22 and 22A when calculated on the seventh day after the end of the relevant month.
22C.3 Where no casino tax is payable with respect to the relevant month due to Gaming Revenue being less than zero, the State Tax Credit will be calculated with respect to the following month to which the negative Gaming Revenue is carried forward and applied. When the Casino tax is less than the State Tax credit in any month, the State Tax Credit remaining after applying it to the casino tax in that month, shall be carried forward to the following month.
22C.4 When submitting documentation to the Authority for calculation of the casino tax payable under clauses 22 and 22A, the Company must provide to the Authority preliminary documentation and calculations supporting its claim for a State Tax Credit in a form similar to the document set out in Schedule Six (the "Schedule Six Return").
22C.5 The Company must provide to the State, within 48 hours of lodgement, a copy of its GST return as lodged under Division 31 of the GST Act, together with a statutory declaration as to the accuracy and authenticity of that document. The State Tax Credit will be varied in the following month by the amount of any difference between the amount allowed by the State as a State Tax Credit in a particular month when compared with the actual Global GST Amount declared by the Company to the Commissioner for that month for gambling supplies to which clauses 22 and 22A apply. Any adjustment made by the Commissioner to the Global GST Amount subsequent to the declaration by the Company shall be reflected as a corresponding adjustment in the following monthly State Tax Credit and the Company must include details of such adjustments in the monthly Schedule Six Return.
22C.6 The Company consents to the Authority inspecting such records of the Company that relate to the Global GST Amount used to calculate the State Tax Credits allowed or to be allowed and will provide to the authorised representatives of the Authority (or the Auditor-General) all reasonable access to records and documents of the Company that relate to the calculation of the relevant Global GST Amount.
22C.7 For the purposes of clauses 22C.1 to 22C.6
"Casino tax" includes any additional casino tax payable under clauses 22 and 22A;
"Commissioner" means the Commissioner of Taxation for the Commonwealth of Australia; and
"Gaming Revenue" means total amount of Gross Gaming Revenue and Commission Based Player Revenue.
(c) Inserting Schedule Six as annexed to this Deed of Variation.
4. Force Majeure Event
The Company acknowledges that none of the negotiation, preparation and execution of this document, its ratification under clause 2 or any of the circumstances relating to or giving rise to the creation of this document has or will cause or create any Government Action or Force Majeure Event.
5. Confirmation of other terms
The parties acknowledge and confirm that except as varied by this document the terms and conditions of the Management Agreement remain in full force and effect.
6. General provisions
Clauses 33 and 35 to 40 (inclusive) of the Management Agreement apply to this document as if expressly included in this document.
EXECUTED as a deed.
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SIGNED SEALED AND DELIVERED by THE HONOURABLE |
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DAMIAN MANNIX
Witness
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THE COMMON SEAL of |
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DAVID COURTNEY IAN J JOHNSON
Secretary Director
TIM DAVIES
Witness
ANNEXURE