5Authority of Treasurer to sell TOTE Tasmania

5 Authority of Treasurer to sell TOTE Tasmania

(1)  While all the shares in TOTE Tasmania are held by the Treasurer and another Minister in trust for the Crown, the Treasurer may sell and transfer, in accordance with this Act, one or more of the following:

(a) those shares in TOTE Tasmania;

(b) the business of TOTE Tasmania;

(c) the shares in a TOTE subsidiary;

(d) the business of a TOTE subsidiary.

(2)  A sale under this section will be on the conditions the Treasurer considers appropriate.

(3)  In exercising a power of sale under this section, the Treasurer is to have regard to the achievement of a fair and reasonable price.