30Corporation to manage declared area during race period

30 Corporation to manage declared area during race period

S. 30(1) amended by No. 39/2025 s. 7.

(1) The Corporation must manage and control the declared area in respect of a year, including any public access areas, for the race period in respect of that year.

(2) The powers of the committee of management in respect of the declared area in respect of a year must not be exercised during the race period in respect of that year except with the consent of the Corporation.

(3) Despite subsection (1), a person who, but for subsection (4), would have a right to carry on a business in premises in the declared area in respect of a year during the race period in respect of that year, being premises in respect of which the person has a right of occupation, may, during that race period, carry on that business—

S. 30(3)(a) amended by No. 39/2025 s. 13.

(a) to the extent, and in accordance with the conditions, that the Corporation, after consultation with the committee of management, having regard to section 30A, approves; or

(b) in the event of a dispute, to the extent, and in accordance with the conditions, that the Minister approves.

(4) The rights and interests of any person, other than the Corporation, in relation to the declared area in respect of a year are suspended for the race period in respect of that year, except as provided in subsection (3).

S. 30(5) amended by No. 44/2014 s. 33(Sch. item 4).

(5) If the right of a person under a lease, licence or other agreement granted or entered into before the commencement of this section to carry on a business in premises in Albert Park is suspended by the operation of this section during the race period in respect of a year, the person is entitled to the payment of an amount of compensation by the Corporation calculated in accordance with the formula Image unavailable in extracted text where—

A is the part of the person's profits from that business in respect of the financial year ended on 30 June 1994 that is certified by an auditor approved by the Corporation and that person as being the part attributable to the days in that financial year corresponding to the race period;

B is the average weekly total earnings of all employees in Victoria in original terms for the most recent reference period last published by the Australian Bureau of Statistics as at the 15th day of the month preceding the month in which the race period, or any part of the race period, falls;

C is the average weekly earnings of all employees for Victoria as at the 15th day of the relevant month in the financial year ended on 30 June 1994 published by the Australian statistician in respect of the quarter before that relevant month corresponding to the quarter referred to above.