23Sale or disposal of racing infrastructure of racecourses prohibited during 10-year moratorium period

23 Sale or disposal of racing infrastructure of racecourses prohibited during 10-year moratorium period

23 Sale or disposal of racing infrastructure of racecourses prohibited during 10-year moratorium period

(1) This section applies to any racecourse (other than Randwick Racecourse or Warwick Farm Racecourse) that becomes vested in the merged racing club by virtue of the operation of this Division.

Note—

Randwick Racecourse is owned by the Trust and, immediately before the merger finalisation day, was leased to the AJC. The merged racing club will become its lessee by virtue of the operation of this Division.

(2) The merged racing club may not sell or otherwise dispose of any of the necessary racing infrastructure of a racecourse to which this section applies within the 10-year period commencing on the merger finalisation day.

(3) The necessary racing infrastructure of a racecourse is any lands, buildings or other facilities (such as racetracks, training grounds, spectator or member stands and stabling areas) that are necessary for the conduct of race meetings at the racecourse.

(4) The regulations may make provision for or with respect to the kinds of lands, buildings or facilities (other than racetracks, training grounds, spectator or member stands or stabling areas) that are, or are not, to be treated for the purposes of this section as being necessary for the conduct of race meetings at a racecourse.

(5) In this section:

Warwick Farm Racecourse means the racecourse known as Warwick Farm Racecourse that was owned by the AJC at the time that this Act was enacted, and includes any buildings, structures, fixtures, fittings and other improvements on the racecourse.

s 23: Am 2011 No 30, Sch 1 [5].