33Further lease of Randwick Racecourse

33 Further lease of Randwick Racecourse

33 Further lease of Randwick Racecourse

(1) On the surrender of any Randwick Racecourse lease that is in force, the Trust may grant a further lease or leases, on such terms and conditions as it considers fit, of all or any part of Randwick Racecourse to the merged racing club for a period not exceeding 99 years.

(2) A lease granted under this section may contain options for the lessee to renew the lease for a further period or periods.

(3) If the lease contains options for renewal of the lease by the lessee, the aggregate of the original period and the further period or periods must not exceed 99 years.

(4) The merged racing club is, subject to any Randwick Racecourse lease, authorised to grant subleases and licences to use any part of Randwick Racecourse while it is the lessee of the Racecourse.

(5) The grant of a lease under this section does not affect the continued operation of any sublease or licence to use Randwick Racecourse (or any part of the Racecourse) previously granted by or on behalf of the AJC or the former AJC.

(6) If a Randwick Racecourse lease provides for the payment of damages by the merged racing club or the AJC in the event of the non-fulfilment by the merged racing club or the AJC of a term or condition of the lease, those damages are taken to be liquidated damages and may be recovered as such by the Trust in any court of competent jurisdiction.

s 33: Am 2011 No 30, Sch 1 [10].