(1) VRC Limited may erect or re-erect buildings and improvements on the Flemington Racecourse land if this is—
(a) necessary or expedient for the use of the land as a public racecourse; or
(b) not inconsistent with the use of the land as a public racecourse.
(2) With the approval of the Crown Land Minister, VRC Limited may erect other buildings and other improvements on the Flemington Racecourse land.
(3) The Crown Land Minister may only approve a proposal under subsection (2) if the Minister is of the opinion that the erection of the proposed new buildings or improvements will not be detrimental to the use of the Flemington Racecourse land as a public racecourse.