New South Wales Consolidated Acts New South Wales Consolidated ActsThe objects of this Act are to provide for the conversion of the Totalizator Agency Board (TAB) into a public company and for its sale by a public float, and in particular:
(a) to convert TAB from a statutory authority into a public company limited by shares and with the name TAB Limited, and
(b) to repeal provisions of the Totalizator (Off-course Betting) Act 1964 and to apply the Corporations Law to TAB after its conversion, and
(c) to authorise the exclusion from the sale of TAB of any part of the business undertakings of TAB and its subsidiaries, and to reorganise those businesses before the sale, and
(d) to authorise the sale of TAB by a public float (comprising disposal of the shares issued to the State) and to limit to 10% the maximum shareholding of any one shareholder.