Sale of Nt Tab Act 2000

In the course of negotiating the sale of the NT TAB, the Minister and the Commission may communicate, disclose or divulge, including by the production of a document or the provision of a copy of or extract from a document, details of the contracts and other arrangements entered into by the Commission, the accounts and financial records and records relating to financial transactions of and assets and other facilities used in and any other information that explains the operations of the NT TAB to a purchaser or a person authorised to act for and on behalf of the purchaser.

The Minister may authorise discussions on information communicated, disclosed or divulged under subsection (1) between a purchaser or a person authorised by the Minister to act for and on behalf of the purchaser and a person or a person nominated by the Minister to represent the person with whom the Commission has entered into an agreement or other arrangement for the purpose of the conduct of the business of the NT TAB.

The Minister may impose conditions on his or her authorisation under subsection (2) and the persons discussing the information must comply with those conditions.

A person to whom information is communicated, disclosed or divulged under subsection (1) or because of discussions authorised under subsection (2) must not communicate, disclose or divulge that information to another person unless in the course of deliberating and negotiating an offer to purchase the NT TAB and any prospective agreement for the sale and purchase of the NT TAB.

The Minister or a member of the Commission must not communicate, disclose or divulge information received from a purchaser in the course of negotiations for the sale of the NT TAB to another person except in the course of deliberating any offer from or prospective agreement with the purchaser or consideration of the sale of the NT TAB by the Territory Cabinet a committee of the Territory Cabinet.

Maximum penalty: 200 penalty units or imprisonment for 12 months.