sec.323Amounts payable before commencement day for investments

sec.323 Amounts payable before commencement day for investments

This section applies if— an investment is made under the existing Act before the commencement day; and an amount first becomes payable in relation to the investment (whether by way of a dividend or refund) before the commencement day. Sections 201 to 203 of the existing Act continue to apply in relation to the investment and the amount as if the sections had not been repealed by the Racing Legislation Amendment Act 1998 . For applying the sections— a reference to the totalisator board is taken to be a reference to the TAB; and a reference to the Racing Development Fund is taken to be a reference to the consolidated fund. (sec.323-ssec.1) This section applies if— an investment is made under the existing Act before the commencement day; and an amount first becomes payable in relation to the investment (whether by way of a dividend or refund) before the commencement day. (sec.323-ssec.2) Sections 201 to 203 of the existing Act continue to apply in relation to the investment and the amount as if the sections had not been repealed by the Racing Legislation Amendment Act 1998 . (sec.323-ssec.3) For applying the sections— a reference to the totalisator board is taken to be a reference to the TAB; and a reference to the Racing Development Fund is taken to be a reference to the consolidated fund.

• (a) an investment is made under the existing Act before the commencement day; and
• (b) an amount first becomes payable in relation to the investment (whether by way of a dividend or refund) before the commencement day.
• (a) a reference to the totalisator board is taken to be a reference to the TAB; and
• (b) a reference to the Racing Development Fund is taken to be a reference to the consolidated fund.