Western Australian Current Acts Western Australian Current Acts[s. 3]
[Heading amended: No. 19 of 2010 s. 4.]
SECOND SUPPLEMENTARY AGREEMENT
BURSWOOD CASINO (1990)
THIS AGREEMENT made the third day of May 1990
BETWEEN:
THE HONOURABLE PAMELA ANNE BEGGS, J.P., M.L.A., 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”) of the first part;
AND
PERPETUAL TRUSTEES W.A. LTD. of 89 St. Georges Terrace Perth in the State of
Western Australia as trustee of the Burswood Property Trust (“the
Trustee”) of the second part;
AND
BURSWOOD MANAGEMENT LIMITED of 40 The Esplanade Perth in the State of Western
Australia as manager of the Burswood Property Trust (“the
Manager”) of the third part.
WHEREAS:
A. The State, the
Trustee (by virtue of the West Australian Trustees Limited (Merger) Act 1989
) and the Manager are parties to agreements dated 20 February 1985 and 14
September 1987 ratified by and scheduled to the
Casino (Burswood Island) Agreement Act 1985 (the 20 February 1985 Agreement as
supplemented and amended by the 14 September 1987 Agreement “the
Principal Agreement”).
B. The parties have
agreed that subject as hereinafter provided the Principal Agreement should be
amended.
NOW IT IS HEREBY AGREED AS FOLLOWS:
1. Words and
expressions defined in the Principal Agreement when used in this Agreement
have, unless the context otherwise requires, the same meanings as are ascribed
to them in the Principal Agreement and the provisions of clause 2 of the
Principal Agreement as to the interpretation thereof shall apply to this
Agreement.
2. (1)
The State shall introduce and sponsor a Bill in the Parliament
of Western Australia to ratify this Agreement and endeavour to secure its
passage as an Act.
(2)
The following provisions of this Agreement shall become
effective on the day on which the Act referred to in sub-clause (1) comes into
operation.
3. The Principal
Agreement is amended by adding the following sub-clauses to clause 23: —
(10) Notwithstanding
sub-clause (9) for the purposes of sub-clause (1)(b) “Annual Specified
Amount” means: —
(a) in
relation to the annual period in which the Effective Date occurs the aggregate
of:
(i)
the same proportion of what but for this sub-clause would
have been the Annual Specified Amount for that period as the proportion which
the number of days from and including the Anniversary Date preceding the
Completion Date to but excluding the Completion Date bears to 365; and
(ii)
the same proportion of ONE MILLION FOUR HUNDRED THOUSAND
DOLLARS ($1 400 000.00) as the proportion which the number of days from and
including the Completion Date to but excluding the Anniversary Date following
the Completion Date bears to 365;
(b) on
and from the Anniversary Date following the Completion Date ONE MILLION FOUR
HUNDRED THOUSAND DOLLARS ($1 400 000.00) escalated on each Anniversary Date
after the Completion Date by the percentage by which the CPI last published
prior to such Anniversary Date has increased over the CPI last published prior
to the Anniversary Date preceding the Completion Date.
(11) The payment, or
if more than one, each payment, to be made pursuant to sub-clause (1)(b) after
the Effective Date in respect of the period referred to in sub-clause (10)(a)
shall be adjusted so as to give effect to sub-clause (10)(a) or, if the
Effective Date occurs after the date on which the last payment in respect of
that period has been made, the additional amount payable by reason of the
operation of sub-clause (10)(a) shall be paid by the Trustee within seven (7)
days of the Effective Date.
(12) In sub-clauses
(10) and (11): —
“Completion Date” means the date of
Commissioning of an extension to the Burswood Casino proposed in plans dated
September 1989 and submitted to the Minister by the Manager with a letter
dated 13 September 1989 and subsequently approved by the Minister, as to which
date a certificate issued by the Minister shall for the purposes of this
Agreement be conclusive;
“Effective Date” means the date on
which the Act ratifying the agreement by which those sub-clauses were inserted
into this Agreement came into operation.
AS WITNESS the execution of this Agreement by or on behalf of the parties
hereto the day and year first hereinbefore written.
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SIGNED by THE HONOURABLE PAMELA ANNE BEGGS, J.P., M.L.A. for and on behalf of
the State of Western Australia in the presence of: |
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P. A. Beggs |
R. Chapman
PERPETUAL TRUSTEES W.A. LTD by its Attorney who state
they have no notice of
revocation of the Power of Attorney
dated 5 February 1990 under which this
document is signed.
P. G. Webse — Manager Corporate Trusts.
B. Romeo — Accountant Corporate Trusts.
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THE COMMON SEAL of BURSWOOD MANAGEMENT LIMITED was hereunto affixed by
authority of the Board of Directors in the presence of: |
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Dallas R. Dempster, Director.
Yew Seng Kwa, Secretary.
[Schedule 3 inserted: No. 15 of 1990 s. 6.]
