Racing (Tasracing Pty Ltd) (Transitional and Consequential Provisions) Act 2009 (Tas)

Racing (Tasracing Pty Ltd) (Transitional and Consequential Provisions) Act 2009

An Act to provide for the transfer of property, rights, liabilities and employees to Tasracing Pty Ltd as the universal successor of the Tasmanian Racing Board and to consequentially amend certain Acts [Royal Assent 24 June 2009]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1 - Preliminary

1. Short title This Act may be cited as the Racing (Tasracing Pty Ltd) (Transitional and Consequential Provisions) Act 2009 .

2. Commencement This Act commences immediately after the commencement of the Racing (Tasracing Pty Ltd) Act 2009 .

PART 2 - Savings and Transitional

3. Interpretation (1) In this Part – asset has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 ; Board has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 ; Company has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 ; director means a director of the Company; incorporation day means the day on which the Company is incorporated; liability has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 ; right has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 ; TRB has the same meaning as in the Racing (Tasracing Pty Ltd) Act 2009 . (2) Unless the contrary intention appears, an expression used in this Act has the same meaning as it has in the Racing Regulation Act 2004 .

4. Vesting of assets, rights, liabilities, &c., in the Company (1) On and after the incorporation day, the following provisions have effect: (a) the assets of the TRB vest in the Company by virtue of this section and without the need for any further transfer, assignment or assurance; (b) the rights or liabilities of the TRB become by virtue of this section the rights or liabilities of the Company; (c) legal or other proceedings commenced by or against the TRB before, and pending on, the incorporation day, or that are taken by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 to be proceedings pending by or against the TRB, may be continued by or, as the case may be, against the Company; (d) a judgment or order of a court obtained in those proceedings whether by or against the TRB, or that may be enforced by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 by or against the TRB, may be enforced by or, as the case may be, against the Company; (e) legal or other proceedings which could have been commenced by or against the TRB before, and pending on, the incorporation day, or that may be commenced by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 by or against the TRB, may be commenced by or against the Company; (f) a document addressed to, and purporting to be served on, the TRB relating to those proceedings, or that is taken by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 to have been served on the TRB, is taken to be served on the Company; (g) a reference to the TRB in any Act, in any instrument made under any Act, in any contract (other than a contract of employment), agreement, arrangement or undertaking or in any document of any kind, or that is taken by virtue of section 15(1) of the Racing Regulation Amendment (Governance Reform) (Transitional and Consequential Provisions) Act 2008 to be, or include, a reference to the TRB, is taken to be, or include, a reference to the Company. (2) The operation of this section is not to be regarded – (a) as a breach of contract or confidence or otherwise as a civil wrong; or (b) as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets, rights or liabilities; or (c) as giving rise to any remedy by a party to an instrument, or as causing or permitting the termination of any instrument, because of a change in the beneficial or legal ownership of any asset, right or liability; or (d) as an event of default under any contract or other instrument. (3) State tax is not payable in respect of any document prepared to give effect to subsection (1) . (4) In this section – State tax means application or registration fees, stamp duty or any other tax, duty, fee or charge imposed by any Act or law of Tasmania.