Sale of Nt Tab Act 2000
1Sale of Nt Tab Act 2000
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NORTHERN TERRITORY OF AUSTRALIA SALE OF NT TAB ACT 2000 As in force at 1 July 2024 Table of provisions 1 Short title ......................................................................................... 1 2 Commencement and expiration ....................................................... 1 3 Act binds Crown .............................................................................. 1 4 Definitions ........................................................................................ 1 5 Power to sell NT TAB ...................................................................... 2 6 Confidentiality .................................................................................. 2 7 Payment of taxes ............................................................................. 3 8 Purchaser to be granted licence under Totalisator Licensing and Regulation Act 2000 ................................................................. 3 10 Liabilities of Commission after sale ................................................. 3 11 Protection of Minister and Commission ........................................... 4 12 Repeal ............................................................................................. 4 13 Continuation of administration of NT TAB after repeal of Acts under section 12 .............................................................................. 4 14 Validation ......................................................................................... 4 Schedule ENDNOTES
NORTHERN TERRITORY OF AUSTRALIA
As in force at 1 July 2024
SALE OF NT TAB ACT 2000 An Act to enable the sale of the business known as the NT TAB and for related purposes 1 Short title This Act may be cited as the Sale of NT TAB Act 2000. 2 Commencement and expiration (1) The provisions of this Act come into operation on the date, or respective dates, fixed by the Administrator by notice in the Gazette. (2) A notice under subsection (1) may, if the notice provides, have retrospective effect. (3) This Act expires on the date fixed by the Administrator by notice in the Gazette. 3 Act binds Crown This Act binds the Crown not only in right of the Northern Territory but, to the extent that the legislative power of the Legislative Assembly permits, the Crown in all its other capacities. 4 Definitions In this Act, unless the contrary intention appears: NT TAB means the business or any component of the business of conducting betting by means of a totalisator system known as the NT TAB and administered by the Commission and includes the arrangements entered into and the assets and related facilities used by the Commission in administering the business. purchaser means a person with whom the Minister engages in negotiations or enters into an agreement for the sale and purchase of the NT TAB.
Sale of NT TAB Act 2000 2 5 Power to sell NT TAB (1) The Minister may, on behalf of the Territory, sell the business and the assets that comprise the NT TAB. (2) For the purposes of effecting the sale of the NT TAB, the Minister may engage in negotiations and enter into agreements. (3) The Minister and the Commission have power to do all things necessary and convenient to be done for or incidental to the proper conduct of the sale of the NT TAB. 6 Confidentiality (1) In the course of negotiating the sale of the NT TAB, the Minister and the Commission may communicate, disclose or divulge, including by the production of a document or the provision of a copy of or extract from a document, details of the contracts and other arrangements entered into by the Commission, the accounts and financial records and records relating to financial transactions of and assets and other facilities used in and any other information that explains the operations of the NT TAB to a purchaser or a person authorised to act for and on behalf of the purchaser. (2) The Minister may authorise discussions on information communicated, disclosed or divulged under subsection (1) between a purchaser or a person authorised by the Minister to act for and on behalf of the purchaser and a person or a person nominated by the Minister to represent the person with whom the Commission has entered into an agreement or other arrangement for the purpose of the conduct of the business of the NT TAB. (3) The Minister may impose conditions on his or her authorisation under subsection (2) and the persons discussing the information must comply with those conditions. (4) A person to whom information is communicated, disclosed or divulged under subsection (1) or because of discussions authorised under subsection (2) must not communicate, disclose or divulge that information to another person unless in the course of deliberating and negotiating an offer to purchase the NT TAB and any prospective agreement for the sale and purchase of the NT TAB. (5) The Minister or a member of the Commission must not communicate, disclose or divulge information received from a purchaser in the course of negotiations for the sale of the NT TAB to another person except in the course of deliberating any offer from or prospective agreement with the purchaser or consideration of the sale of the NT TAB by the Territory Cabinet a committee of