3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears –

asset includes any real and personal property, operation, right and licence;

business, in relation to TOTE Tasmania or a TOTE subsidiary, has the meaning given by section 4 ;

contract includes an agreement and an arrangement;

legal proceeding includes arbitration and mediation;

liability means an actual, contingent or prospective liability, duty or obligation;

property means –

(a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property; and

(b) money, documents and securities; and

(c) shares in a TOTE subsidiary; and

(d) any other rights;

right means a right, power, privilege or immunity, whether present or future and whether vested or contingent;

sale day means –

(a) in relation to the sale of shares in TOTE Tasmania or in a TOTE subsidiary under section 5(1)(a) or (c) , the day on which those shares are acquired by the purchaser; or

(b) in relation to the sale of the business of TOTE Tasmania or of a TOTE subsidiary under section 5(1)(b) or (d) , the day on which the business vests in the purchaser;

statutory rule means a statutory rule within the meaning of the Rules Publication Act 1953 ;