7Financial arrangements for racecourse improvements

7 Financial arrangements for racecourse improvements

7 Financial arrangements for racecourse improvements

(1) The Minister is authorised, on behalf of the State, to enter into an arrangement with the relevant parties for the provision of financial assistance for the purpose of making improvements to Randwick Racecourse and Rosehill Gardens Racecourse.

(2) The following are specifically authorised by this Act for the purposes of the Competition and Consumer Act 2010 of the Commonwealth and the Competition Code of New South Wales:

(a) any arrangement entered into under subsection (1),

(b) the conduct of the Minister, any relevant party or any agent in negotiating and entering into any such arrangement,

(c) the conduct of any party to the arrangement (including the Minister) or any agent in giving effect to the arrangement.

(3) Anything authorised to be done by subsection (2) is authorised only to the extent to which it would otherwise contravene Part IV of the Competition and Consumer Act 2010 of the Commonwealth or the Competition Code of New South Wales.

(4) In this section:

arrangement includes agreement and understanding.

giving effect to an arrangement includes:

(a) complying with any obligation under the arrangement, and

(b) exercising or enforcing any right or power under the arrangement.

relevant parties means each of the following:

(a) Racing New South Wales,

(b) TAB Limited (ACN 081 765 308),

(c) the merged racing club (or a company that the Minister anticipates will be declared to be the merged racing club under section 8).

Rosehill Gardens Racecourse means the racecourse known as Rosehill Gardens Racecourse that was owned by the STC at the time this Act was enacted, and includes:

(a) the Rosehill Gardens Event Centre, and

(b) any other buildings, structures, fixtures, fittings and other improvements on the racecourse.

s 7: Am 2018 No 68, Sch 2.2.