10Direction and control of NSW Lotteries and transaction companies

10 Direction and control of NSW Lotteries and transaction companies

10 Direction and control of NSW Lotteries and transaction companies

(1) NSW Lotteries and any transaction company (while it is a public sector agency) are subject to the direction and control of the Treasurer in the exercise of any of their functions for the purposes of the authorised transaction.

(2) The Treasurer may give directions for the purposes of the authorised transaction to NSW Lotteries and to any transaction company, and to the directors and other officers of NSW Lotteries or a transaction company. Any such directions must be complied with by NSW Lotteries, the transaction company or the directors or other officers concerned.

(3) Directions to a transaction company (or its directors and other officers) can only be given and are only required to be complied with while the transaction company is a public sector agency.

(4) The power to give directions under this section extends to directions with respect to the way in which NSW Lotteries or a transaction company is to conduct its business and other affairs.

(5) Action taken by NSW Lotteries to comply with a direction of the Treasurer under this Act does not require the approval of the voting shareholders or portfolio Minister of NSW Lotteries.

(6) Anything done or omitted to be done by a director or other officer of NSW Lotteries or a transaction company in complying with a direction given by the Treasurer under this Act does not subject the director or officer personally to any action, liability, claim or demand.

(7) The provisions of this section are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the Corporations Act.