TAB (Disposal) Act 2019

This Act comes into operation as follows —

Part 1 — on the day on which this Act receives the Royal Assent (assent day);

the following provisions — on a day fixed by proclamation —

section 40(2), (3), (5), (6), (8), (10) to (13), (15) and (16);

section 41;

sections 43 to 45;

sections 49 to 51

sections 53 to 76;

section 77(2);

sections 78 and 79

sections 86 to 88;

section 89(1);

sections 90 to 92;

sections 94 to 104;

Part 9 Divisions 3 and 4;

Part 10;

the rest of the Act — on the day after assent day.

Different days may be fixed in a proclamation for different provisions.

means property of any kind whether tangible, intangible, real or personal; and

includes —

any chose in action, goodwill, right, interest or claim of any kind, whether arising from, accruing under, created or evidenced by or the subject of an instrument or otherwise and whether liquidated or unliquidated or actual, contingent or prospective; and

a contractual right that is to be regarded as arising because of section 19(2);

a company created in accordance with section 9(4) each security in which is held by a person specified in section 9(6) on behalf of the State; or

a subsidiary under the Corporations Act 2001 (Commonwealth) of a company referred to in paragraph (a);

to sell the TAB asset; and

to grant a lease or licence in respect of the TAB asset; and

to create and assign an interest in the TAB asset;

means any liability, duty or obligation —

whether liquidated or unliquidated or actual, contingent or prospective; and

whether owed alone or jointly or jointly and severally with any other person;

includes a contractual liability that is to be regarded as arising because of section 19(2);

means any right, power, privilege or immunity whether actual, contingent or prospective; but

in relation to a transfer order, does not include any privilege or immunity enjoyed as an agent of the Crown except in so far as it relates to anything done or omitted to be done before the transfer time;

before the commencement of section 120, Racing and Wagering Western Australia established under the Racing and Wagering Western Australia Act 2003;

on and after the commencement of section 120, Racing Western Australia established under the Racing Western Australia Act 2003;

before the commencement of section 120, the Racing and Wagering Western Australia Act 2003;

on and after the commencement of section 120, the Racing Western Australia Act 2003;

the whole or any part of a business carried on by, or any asset or liability owned by or managed by, RWWA; or

the whole or any part of a business carried on by, or any asset or liability owned by or managed on behalf of RWWA, a corporate vehicle or the State by, a corporate vehicle; or

the securities in a corporate vehicle;

the purpose of effecting or facilitating the section 8 disposal;

any purpose ancillary or incidental to, or consequential on, the section 8 disposal.

In this section —

The Minister may, by order in writing for the purposes of a section 8 disposal, direct that a specified thing that is on land and is capable of being disposed of is not part of the land, regardless of whether it is in the nature of a fixture.

The effect of the order is that, for the purposes of a section 8 disposal, the thing —

is taken to be severed from the land; and

is capable of being assigned as personal property separately from the land; and

is capable of being removed from the land by, or with the authority of, the owner of the land.

The severance of a thing from land under this section does not affect the right of the thing to be situated on that land.

The Minister may vary or revoke an order made under subsection (2).

A TAB asset owned or managed by RWWA may be disposed of, whether by RWWA or the State, if the disposal is authorised by an order made under section 8.

A TAB asset owned or managed by a corporate vehicle may be disposed of, whether by the corporate vehicle or the State, if the disposal is authorised by an order made under section 8.

The Minister may, by order published in the Gazette —

direct the disposal of all or specified TAB assets; or

vary or revoke an order made under paragraph (a), or under this paragraph, at any time before effect is given to the order.

An order made under subsection (1) may be in general terms and need not include any details about how the disposal is to be effected or specific details about the assets the subject of the disposal.

The Minister cannot make an order under subsection (1) without the Treasurer’s approval.

An order made under subsection (1) takes effect —

on the day after the day on which the order is published in the Gazette; or

if a later day is specified in the order — on that day.

Any TAB asset not disposed of in accordance with an order made under subsection (1) —

remains the property of RWWA; and

despite the RWWA Act section 30, may be held, maintained, managed, improved, developed and disposed of for any purpose.

Except as provided in section 10, there are no limitations on the nature of any transaction or arrangement that can be entered into for the purposes of a section 8 disposal.

An express provision of this Act authorising the establishment of a particular kind of legal entity for the purposes of a section 8 disposal does not limit the kinds of legal entity that can be used for those purposes.

One or more corporate vehicles or 1 or more trusts can be used for the purposes of a section 8 disposal.

If a company is to be used for the purposes of a section 8 disposal by the State, the Under Treasurer must ensure that the necessary steps are taken on behalf of the State to create the company.

Any of the persons specified in subsection (6) can —

receive on behalf of the State an allotment and issue of, or otherwise acquire on behalf of the State, securities in the company; and

hold, and dispose of, on behalf of the State any securities so acquired by the person in the company.

For the purposes of subsection (5), the following persons are specified —

the Minister;

the Treasurer;

RWWA.

The Minister may enter into on behalf of the State any agreement for the purposes of a section 8 disposal.