Totalisator Act 2014

For this Act, a corporation is an eligible person if—

each influential person of the corporation is an eligible person; and

the corporation is not the subject of a winding-up order, and has not been the subject of a winding-up order in the last 3 years; and

a controller or administrator has not been appointed for the corporation in the last 3 years; and

the commission believes on reasonable grounds that the corporation—

has, or has arranged, a satisfactory ownership or corporate structure; and

has a reputation for sound business conduct; and

has a satisfactory financial position and financial background.

Despite subsection (1), the Minister or commission may decide that a corporation is an eligible person if satisfied that—

the operation of the totalisator would not be adversely affected if the Minister or commission decided that the individual is an eligible person; and

it is otherwise in the public interest that the corporation be treated as an eligible person.

In this section:

influential owner, of a corporation, means a person who, whether directly or through intermediary corporate ownership or nominees—

can control at least 5% of the votes at an annual general meeting of the corporation; or

can control the appointment of a director of the corporation.

influential person, of a corporation—

means any of the following:

an executive officer of the corporation;

a related corporation;

an executive officer of a related corporation;

an influential owner of the corporation; and

includes a person who, though not mentioned in paragraph (a), can exercise as much influence over the conduct of the corporation as someone mentioned in that paragraph.

related corporation means a related body corporate under the Corporations Act.