Western Australian Current Acts Western Australian Current Acts[s. 3A]
Casino (Burswood Island) Agreement
TENTH SUPPLEMENTARY AGREEMENT
THIS AGREEMENT made the 2 nd day of November 2006
B E T W E E N :
THE HONOURABLE MARK McGOWAN MLA, the Minister of the Crown for the time being
charged with the administration of the Control Act acting for and on behalf of
the State of Western Australia and its instrumentalities from time to time (
“the State” )
AND
BURSWOOD NOMINEES LTD . (ACN 078 250 307) of Burswood Entertainment Complex,
Great Eastern Highway, Burswood in the State of Western Australia as trustee
of the Burswood Property Trust ( “the Trustee” )
AND
BURSWOOD RESORT (MANAGEMENT) LIMITED (ACN 009 396 945) of Burswood
Entertainment Complex, Great Eastern Highway, Burswood in the State of Western
Australia as manager of the Burswood Property Trust ( “the
Manager” )
RECITALS:
A. The State, the Trustee (by virtue of the
West Australian Trustees Limited (Merger) Act 1989 ) and the Manager (by
virtue of a deed of retirement and appointment of manager made on 13 August
1990 and a deed of assumption and covenant made on 13 November 1991) are
parties to an agreement dated 20 February 1985 ratified by and scheduled to
the Casino (Burswood Island) Agreement Act 1985 as amended by:
(a) the Supplementary Agreement made on 14
September 1987;
(b) the Second Supplementary Agreement made on 3
May 1990;
(c) the Third Supplementary Agreement made on 13
November 1991;
(d) the Fourth Supplementary Agreement made on 30
March 1992;
(e) the Fifth Supplementary Agreement made on 3
April 1995;
(f) the Sixth Supplementary Agreement made on 22
June 1996;
(g) the Seventh Supplementary Agreement made on 9
June 1997;
(h) the Eighth Supplementary Agreement made on 18
June 2003; and
(i) the Ninth Supplementary Agreement made on 23
November 2005,
which agreement as so amended is referred to in this Agreement as “the
State Agreement” .
B. The parties have agreed to further amend the
State Agreement for the purpose of more efficiently or satisfactorily
implementing or facilitating certain of its objectives.
THE PARTIES AGREE AS FOLLOWS:
1. Definitions and Interpretation
Words and expressions defined in the State Agreement when used in this
Agreement have, unless the context otherwise requires, the same meanings as in
the State Agreement and the provisions of clause 2 of the State Agreement as
to interpretation apply to this Agreement.
2. Variation and Operation
Pursuant to and subject to clause 5 of the State Agreement the parties agree
to amend the State Agreement in the manner set out in this Agreement.
3. Clause 2 amended
Clause 2 of the State Agreement is amended by inserting after the definition
of “Electronic Gaming Machine” the following definition:-
“ “Electronic Gaming Machine Levy” means, for the purpose of
subparagraph 23(1)(c)(ii)(C) the percentage of Casino Taxable Revenue for
Electronic Gaming Machines set out in column 2 of the table in item 1 of
Schedule F.”
4. Clause 23 amended
Clause 23 of the State Agreement is amended by deleting subclause (1)(c) and
substituting the following:-
“(c) subject to subclause (2), to the Board
in respect of each and every month an amount equal to the greater of:
(i) $83,334; or
(ii) the aggregate of:
(A) one per centum (1%) of Casino Taxable
Revenue for Table Games for the month;
(B) one per centum (1%) of Casino Taxable
Revenue for International Commission Business for the month; and
(C) for each month during the period set
out in column 1 of the table in item 1 of Schedule F, the Electronic Gaming
Machine Levy,
subject to item 2 of Schedule F, payment to be made to the Board by monthly
payments on, and commencing on, the same dates as payments are made to the
Treasurer of the State pursuant to paragraph (a). The Board must apply moneys
received under this paragraph solely for the purpose of performing the
functions for which it was or is constituted and to be expended on or directly
in relation to the Resort Site and the reasonable administration expenses of
the Board.
5. Schedule F inserted
The State Agreement is amended by inserting after Schedule E new Schedule F in
the form attached to this Agreement.
6. Effective Date
The amendments to the State Agreement set out in clauses 3, 4 and 5 of this
Agreement shall take effect not earlier than 1 January 2007.
AS WITNESS the execution of this Agreement by or on behalf of the parties the
day and year first hereinbefore written.
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SIGNED by THE HONOURABLE MARK MCGOWAN MLA for and on behalf of the State of
Western Australia in the presence of:
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))))) |
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THE COMMON SEAL of the said BURSWOOD NOMINEES LTD (ACN 078 250 307) was
hereunto affixed by authority of the Board of Directors in the presence of: David Courtney DAVID GRAEME COURTNEY |
))))) |
J Henwood JUSTINE LISA HENWOOD |
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THE COMMON SEAL of BURSWOOD RESORT (MANAGEMENT) LIMITED (ACN 009 396 945) was
hereunto affixed by authority of the Board of Directors in the presence of: David Courtney DAVID GRAEME COURTNEY |
)))))) |
J Henwood JUSTINE LISA HENWOOD |
SCHEDULE F
ITEM 1 – ELECTRONIC GAMING MACHINE LEVY
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Column 1 |
Column 2 |
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Period |
Electronic Gaming Machine Levy |
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On and from 1 January 2007 to 31 December 2007 |
1.5% of Casino Taxable Revenue for Electronic Gaming Machines |
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On and from 1 January 2008 |
2% of Casino Taxable Revenue for Electronic Gaming Machines |
ITEM 2 – MANNER OF ADJUSTMENT, CALCULATION AND PAYMENT
To give effect to the agreement of the parties that the Electronic Gaming
Machine Levy rates specified in this Schedule F take effect from 1 January
2007:
(1) the Board will determine the amount equal to
the Electronic Gaming Machine Levy which would have been payable for the
period commencing 1 January 2007 and concluding on the last day of the month
within which this Agreement takes effect, if this Agreement had taken effect
on 1 January 2007;
(2) if the amount calculated under paragraph (1)
of this Item 2 is more than the actual amount paid by the Trustee under clause
23(1)(c) for the period referred to in paragraph (1), then the Trustee must
pay the difference between the two amounts to the Board at the same time and
in the same manner as the next monthly payment is due under clause 23(1)(c);
and
(3) if the amount calculated under paragraph (2)
of this Item 2 is less than the actual amount paid by the Trustee under clause
23(1)(c) of the State Agreement for the period referred to in paragraph (1)
then the difference between the two amounts shall be set off against future
monthly payments under clause 23(1)(c) until it has been set off in full.
[Schedule 11 inserted: Gazette 12 Jun 2007 p.
2732-5.]