New South Wales Consolidated Acts

TOTALIZATOR AGENCY BOARD PRIVATISATION ACT 1997 - SECT 56

56 Protection of contractual and other obligations

(1) This section applies to the following:

(a) the operation of this Act, and in particular the operation of section 51,

(b) the sale of TAB Limited as authorised by this Act,

(b1) the payment (whether or not by the issue of shares) of any consideration or fee for a licence issued to TAB or a TAB subsidiary under the Totalizator Act 1997 , the Liquor Act 1982 or the Registered Clubs Act 1976 , before the sale of TAB Limited as authorised by this Act,

(c) an agreement, guarantee or other arrangement or transaction, entered into or carried out under this Act for purposes connected with this Act,

(d) a disclosure of information made for the purposes of the sale or proposed sale of TAB Limited.

(2) None of the matters or things referred to in subsection (1) are to be regarded as a breach of confidence or otherwise as a civil wrong or as giving rise to a breach of or an offence against a provision of an Act that prohibits or restricts the disclosure of information.

(3) None of the matters or things referred to in subsection (1) are to be regarded:

(a) as a breach of contract or other instrument or as requiring any act to be done under an instrument, or

(b) as giving rise to any right or remedy by a party to an instrument, or as causing or permitting the termination of an instrument, or

(c) as an event of default under an instrument, or

(d) as a contravention of section 205 (1) (a) of the Corporations Law .

(5) A reference in subsection (3) to an instrument does not include an Act.