Racing Act 2002

Nothing done under this part in relation to a former board—

places the corresponding new control body in breach of a contract, trust or confidence or otherwise makes the corresponding new control body guilty of a civil wrong; or

makes the corresponding new control body in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of a right or liability; or

is taken to fulfil a condition or otherwise constitute an event—

allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or

requiring money to be paid, or anything else to be done, before its stated maturity; or

releases a surety or other obligee, wholly or partly, from an obligation.