4Business defined

4 Business defined

(1)  In relation to TOTE Tasmania or a TOTE subsidiary –

business includes –

(a) the business conducted by TOTE Tasmania or the TOTE subsidiary; and

(b) the goodwill of that business; and

(c) the assets of TOTE Tasmania or the TOTE subsidiary; and

(d) the liabilities, duties and obligations of TOTE Tasmania or the TOTE subsidiary, whether present or future and whether vested or contingent; and

(e) a part of the business of TOTE Tasmania or the TOTE subsidiary.

(2)  However –

(a) this Act does not apply in relation to a part of the business of TOTE Tasmania or of a TOTE subsidiary that the Treasurer, under subsection (3) , has excluded from the operation of this Act; and

(b) a provision of this Act does not apply in relation to a part of the business of TOTE Tasmania or of a TOTE subsidiary that the Treasurer, under subsection (3) , has excluded from the operation of that provision.

(3)  The Treasurer, by order, may exclude a part of the business of TOTE Tasmania, or the whole or a part of the business of a TOTE subsidiary, from the operation of this Act or a provision of this Act.

(4)  An order under subsection (3) is a statutory rule.