37AExemption for nominated company

#### 37A Exemption for nominated company 37A Exemption for nominated company > > (1) The other provisions of this Division do not apply to or in respect of the nominated company or a related body corporate (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company (other than TAB Limited or a TAB Limited subsidiary), subject to this section. > > > (2) If the Racing Minister is satisfied that— > > > > > (a) the nominated company (or, if the nominated company is a company referred to in paragraph (c) of the definition of nominated company in subsection (6), the ultimate holding company (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company) is no longer listed on the Australian Stock Exchange, or > > > > > (b) there no longer exists, under the law of another jurisdiction or otherwise, a prohibition on shareholding interests in the nominated company (or, if the nominated company is a company referred to in paragraph (c) of the definition of nominated company in subsection (6), in the shareholding interests in the ultimate holding company (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company) with substantially the same effect as the prohibition on shareholding interests in TAB Limited under the other provisions of this Division, or > > > > > (c) TAB Limited is not wholly owned by the nominated company or the nominated company has not taken all reasonable steps to acquire a relevant interest in all the issued voting shares (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of TAB Limited, or > > > > > (d) TAB Limited is not a subsidiary (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company, > > > > the Racing Minister is to serve a notice on the nominated company declaring that the exemption granted by subsection (1) is suspended on and from the day specified in the notice (being a day that is not less than 3 months after service of the notice). > > > (3) The Racing Minister is, by further notice served on the nominated company, to revoke a notice under subsection (2) and terminate the suspension effected by that notice if satisfied that— > > > > > (a) the nominated company or the ultimate holding company (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company (as the case may require) has relisted on the Australian Stock Exchange, or > > > > > (b) a prohibition of the kind referred to in subsection (2) (b) has been restored, or > > > > > (c) TAB Limited is wholly owned by the nominated company or the nominated company has taken all reasonable steps to acquire a relevant interest in all the issued voting shares (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of TAB Limited (as the case may be), or > > > > > (d) TAB Limited is a subsidiary (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of the nominated company, > > > > as the case may require. > > > (4) A notice under subsection (2) that is in force has effect according to its tenor. > > > (5) More than one notice may be served under each of subsections (2) and (3). > > > (6) In this section— > > > > nominated company means one of the following— > > > > > (a) Unitab Limited, being the company of that name (ACN 085 691 738), formerly named TAB Queensland Limited, > > > > > (b) TABCORP Holdings Limited, being the company of that name (ACN 063 780 709), formerly named TABCORP Limited, > > > > > (c) a wholly owned subsidiary (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) of a company referred to in paragraph (a) or (b), > > > > as nominated by the Racing Minister by notice (being an irrevocable notice) published in the Gazette. > > > > Racing Minister means the Minister administering the [Totalizator Act 1997](/view/html/inforce/current/act-1997-045). > > **s 37A:** Ins 2003 No 101, Sch 1 \[1\].