Special annual sublease fee
18 Special annual sublease fee
SMA is liable to pay the following amounts to the State on account of a sublease granted to SMA under section 5:
in relation to 2015/2016 financial year—$200 000;
in relation to 2016/2017 financial year—$400 000;
in relation to 2017/2018 financial year—$600 000;
in relation to 2018/2019 financial year—$800 000;
in relation to 2019/2020 financial year—$1 000 000;
in relation to each succeeding financial year while SMA holds a sublease over any part of the Adelaide Oval Core Area under this Act—$1
000 000 (indexed).
An amount payable under this section in relation to a particular financial year must be paid by SMA to the Treasurer by 31 July immediately following the end of that financial year.
The Treasurer must pay all amounts received from SMA under this section into the Sport and Recreation Fund established under the
Gaming Machines
Act 1992 for the purposes of the Active Club Program or, if that program is discontinued, a program that provides financial assistance to South Australian not for profit community‑based active recreation and sporting organisations.
In this section, $1 000 000 (indexed) for a particular financial year means an amount obtained by multiplying
$1 000 000 by a proportion obtained by dividing the Consumer
Price Index for the quarter ending on 31 March in the financial year immediately preceding the relevant financial year by the Consumer Price Index for the quarter ending on
31 March 2019.
In this section—
Consumer Price Index means the Consumer Price
Index (All groups index for
Adelaide).
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