Totalizator Act 1997

It is a condition of every licence of TAB Limited that both TAB Limited and the nominated company must put in place and must give effect to such commercial arrangements (being arrangements that the racing industry has acknowledged in writing to the Minister are satisfactory to the racing industry) as the racing industry considers necessary to ensure that the racing industry is in no less favourable a position under the relevant arrangements in force under section 43(2) than it was under those arrangements as in force immediately before the nominated company was nominated.

It is also a condition of every licence of TAB Limited that, if TAB Limited and the racing industry enter into new arrangements under section 43(2) on or after the date on which the nominated company was nominated, the nominated company must put in place and give effect to arrangements made by the nominated company and the racing industry for ensuring that the new arrangements, with respect to TAB Limited as licensee, are effectively carried out.

If the nominated company is a company referred to in paragraph (c) of the definition of nominated company in section 37A(6) of the Totalizator Agency Board Privatisation Act 1997, subsections (1) and (2) apply as if the reference in those subsections to the nominated company were a reference to the ultimate holding company (within the meaning of the Corporations Act 2001 of the Commonwealth) of the nominated company.

In this section—