Sch 5Fourth deed of variation to the management agreement

Schedule 5—Fourth deed of variation to the management agreement

DEED dated 7 November 1996

BETWEEN THE HONOURABLE ROGER M. HALLAM MLC, the Minister of the Crown for the time being administering the Casino Control Act acting for and on behalf of the State of Victoria ('State')

AND CROWN LIMITED ACN 006 973 262 with its registered office at Level 1, 99 Queensbridge Street, Southbank, Victoria ('Company')

A. The State and the Company entered into an agreement dated 20 September 1993 ratified by and scheduled to the Casino (Management Agreement) Act 1993 ('Management Agreement').

(a) a deed of variation dated 14 November 1994 ratified by and scheduled to the Casino (Management Agreement) Act 1994;

(b) a deed of variation dated 12 October 1995 ratified by and scheduled to the Casino (Management Agreement) (Further Amendment) Act 1995; and

(c) a deed of variation dated 3 June 1996 ratified by and scheduled to the Gaming Acts (Amendment) Act 1996.

C. The parties have agreed to further vary the Management Agreement as provided in this document.

Unless the context otherwise requires or the contrary intention appears, terms defined in the Casino Control Act or the Management Agreement have the same meaning when used in this document.

2.1 Subject to the New Drawing (as defined in clause 3) being authorised by the Minister under section 16 of the Casino (Management Agreement) Act 1993***,*** a minister of the State must introduce and sponsor a Bill in the Parliament of Victoria to ratify this document as soon as reasonably practicable after its execution.

2.2 Clause 3 of this document shall come into operation once:

(b) the period for disallowance under section 16 of the Casino (Management Agreement) Act 1993 has expired without the changes to the Drawings contemplated by the New Drawing (as defined in clause 3) being disallowed.

2.3 Clauses 1, 2, 4, 5, 6 and 7 of this document shall come into operation on the date of this document.

2.4 If the conditions in clause 2.2 are not satisfied by 31 December 1996 or such later date agreed by the parties, this document other than clause 5 will terminate. Following such termination neither party shall have any claim against the other with respect to any matter or thing antecedent to or arising out of or done, performed, or omitted to be done or performed under this document.