His Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Totalizator Agency Board Privatisation Act 1997.
M R Egan, MLCTreasurer
1 Name of Regulation
This Regulation is the Totalizator Agency Board Privatisation Transitional Regulation 1998.
2 Commencement
This Regulation commences on 20 March 1998.
3 Operation of Regulation
This Regulation ceases to have effect when Part 5 of the Act ceases to apply in accordance with section 20 of the Act.
4 Definitions
In this Regulation:SOC Act means the State Owned Corporations Act 1989.the Act means the Totalizator Agency Board Privatisation Act 1997.
5 Notes
The explanatory note and table of contents do not form part of this Regulation.
6 Application of certain provisions of SOC Act to TAB Limited
For the purposes of section 23 of the Act, the following provisions of Part 4 (Accountability) of the SOC Act are prescribed:(a) section 24A (1) (but only to the extent to which that section would apply sections 35–38, 39 and 41–43 of the Public Finance and Audit Act 1983),(b) section 24A (2), (4) and (5),(c) sections 25 and 28–30.
7 Construction of reference to TAB in Public Finance and Audit Act 1983
The reference to the Totalizator Agency Board in Schedule 2 to the Public Finance and Audit Act 1983 is not to be read as (or as including) a reference to TAB Limited.
8 Transitional provision pending sale of TAB Limited
Until the commencement of Schedule 4.2 to the Act, clause 5 of Schedule 5 to the Act does not affect the operation of section 23 of the Act in so far as that section relates to the application of the SOC Act to TAB Limited.