New South Wales Consolidated Acts

TOTALIZATOR AGENCY BOARD PRIVATISATION ACT 1997 - SECT 32

32 Sale of TAB Limited by public float

(1) The Minister may make arrangements for the sale of TAB Limited by a public float, comprising the disposal of the shares held by the State of New South Wales.

(2) The arrangements may include underwriting agreements and the issue of a prospectus.

(3) The Auditor-General is to examine the sale of TAB Limited as he considers appropriate and is to report as soon as practicable after the sale to both Houses of Parliament.

(4) The Minister is to ensure that the Auditor-General is given access to such information and resources as may be necessary to enable the Auditor-General to exercise the functions conferred by this section.

(5) The Auditor-General’s examination under this section is to accommodate the timetable for the sale of TAB Limited determined by the Minister.