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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   PART 2 - (Repealed)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     (Repealed)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     (Repealed)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     (Repealed)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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