Sch 3Second Supplementary Agreement

Schedule 3 — Second Supplementary Agreement

SECOND SUPPLEMENTARY AGREEMENT
BURSWOOD CASINO (1990)

THIS AGREEMENT made the third day of May 1990

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.

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.

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;