(1) TAB Limited is the only person entitled to be approved to conduct a betting activity on computer simulated racing events during the exclusive approval period.
(2) An approval or authorisation (however described) must not be granted under any other Act to permit the conduct of a betting activity on computer simulated racing events during the exclusive approval period.
(3) This section ceases to apply if the licence held by TAB Limited is cancelled or otherwise ceases to have effect under this Act.
(4) No application under this Act is required for the purposes of an approval given pursuant to this section.
(5) In this section--
"computer simulated racing events" means computer simulated horse racing, harness racing or greyhound racing events.
"exclusive approval period" means the period that begins on the commencement of this section and ends on 6 March 2097 (being the end of the term of the licence held by TAB Limited).