3Objects of Act

#### 3 Objects of Act 3 Objects of Act > The objects of this Act are to provide for the conversion of the Totalizator Agency Board (TAB) into a public company and for its sale by a public float, and in particular— > > > (a) to convert TAB from a statutory authority into a public company limited by shares and with the name TAB Limited, and > > > (b) to repeal provisions of the [Totalizator (Off-course Betting) Act 1964](/view/pdf/asmade/act-1964-1) and to apply the [Corporations Law](/view/html/inforce/current/sl-1999-0703) to TAB after its conversion, and > > > (c) to authorise the exclusion from the sale of TAB of any part of the business undertakings of TAB and its subsidiaries, and to reorganise those businesses before the sale, and > > > (d) to authorise the sale of TAB by a public float (comprising disposal of the shares issued to the State) and to limit to 10% the maximum shareholding of any one shareholder. > > **s 3:** Am 1997 No 151, Sch 1 \[1\]; 2002 No 84, Sch 1.2 \[1\].