Preservation of certain arrangements under investment licence
29 Preservation of certain arrangements under investment licence
Any contract or other arrangement between TAB and a hotelier entered into pursuant to the investment licence and in force immediately before the cancellation of that licence may be completed despite that cancellation and despite the other provisions of this Act.
However—
the contract or arrangement may not be varied so as to extend its term, and
no further contract or arrangement of the same kind may be entered into pursuant to the contract or arrangement, and
failure to extend the term of the contract or arrangement, or to enter into any further such contract or arrangement, does not constitute a breach of, or default under, any contract or arrangement.
This clause has effect despite the provisions of the contract or arrangement concerned.
For the purposes of this clause, section 169 applies as it was in force immediately before its amendment by the amending Act.
This Act’s bill:Explanatory memorandumSecond reading speech
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