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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Casino (Management Agreement) (Amendment)
Act 2002
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 1
3. Definitions 2
4. Insertion of new section 6G 2
6G. Ratification of the seventh Deed of Variation 2
5. Amendment to section 7 2
6. Insertion of Schedule 8 3
SCHEDULE 8--Seventh Deed of Variation to the
Management Agreement 3
ENDNOTES 10
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PARLIAMENT OF VICTORIA
Initiated in Assembly 8 May 2002
A BILL
to amend the Casino (Management Agreement) Act 1993 and for
other purposes.
Casino (Management Agreement)
(Amendment) Act 2002
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend the Casino
(Management Agreement) Act 1993 so as to
ratify a seventh deed of variation to the
5 management agreement for the Melbourne
Casino.
2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
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3. Definitions
See:
In section 4 of the Casino (Management Act No.
Agreement) Act 1993-- 94/1993.
Reprint No. 3
(a) in the definition of "the Agreement", after as at
17 May 2000.
5 "sixth Deed of Variation" insert "and the LawToday:
seventh Deed of Variation"; www.dms.
dpc.vic.
(b) after the definition of "the sixth Deed of gov.au
Variation" insert--
' "the seventh Deed of Variation" means
10 the deed of variation to the
management agreement for the
Melbourne Casino Project, a copy of
which is set out in Schedule 8.'.
4. Insertion of new section 6G
15 After section 6F of the Casino (Management
Agreement) Act 1993 insert--
"6G. Ratification of the seventh Deed of
Variation
(1) The seventh Deed of Variation is ratified and
20 takes effect as if it had been enacted in this
Act.
(2) The Agreement is amended as provided in
the seventh Deed of Variation.
(3) A reference in clause 2.2 of the seventh Deed
25 of Variation to the coming into operation of
the Bill is deemed to be a reference to the
commencement of the Casino
(Management Agreement) (Amendment)
Act 2002.".
30 5. Amendment to section 7
In section 7(2) of the Casino (Management
Agreement) Act 1993 after "6F(1)" insert "or
6G(1)".
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6. Insertion of Schedule 8
After Schedule 7 to the Casino (Management
Agreement) Act 1993 insert--
'SCHEDULE 8
5 SEVENTH DEED OF VARIATION TO THE MANAGEMENT
AGREEMENT
MELBOURNE CASINO PROJECT
DEED dated 7 May 2002
BETWEEN THE HONOURABLE JOHN PANDAZOPOULOS
10 MP, the Minister of the Crown for the time being
administering the Casino Control Act acting for and on
behalf of the State of Victoria ('State')
AND CROWN LIMITED ACN 006 973 262 with its
registered office at Level 2, 54 Park Street, Sydney, New
15 South Wales ('Company')
RECITALS
A. The State and the Company entered into an agreement dated
20 September 1993 ratified by and scheduled to the Casino
(Management Agreement) Act 1993 ('Management Agreement').
20 B. The Management Agreement has been varied by:
(a) a deed of variation dated 14 November 1994 ratified by and
scheduled to the Casino (Management Agreement
Amendment) Act 1994 and inserted as Schedule 2 to the
Casino (Management Agreement) Act 1993;
25 (b) a deed of variation dated 12 October 1995 ratified by and
scheduled to the Casino (Management Agreement) (Further
Amendment) Act 1995 and inserted as Schedule 3 to the
Casino (Management Agreement) Act 1993;
(c) a deed of variation dated 3 June 1996 ratified by the Gaming
30 Acts (Amendment) Act 1996 and inserted as Schedule 4 to the
Casino (Management Agreement) Act 1993;
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(d) a deed of variation dated 7 November 1996 ratified by the
Casino (Management Agreement) Amendment Act 1996 and
inserted as Schedule 5 to the Casino (Management
Agreement) Act 1993;
5 (e) a deed of variation dated 1 October 1998 ratified by the
Gaming Acts (Further Amendment) Act 1998 and inserted as
Schedule 6 to the Casino (Management Agreement) Act 1993;
and
(f) a deed of variation dated 3 April 2000 ratified by the National
10 Taxation Reform (Further Consequential Provisions) Act 2000
and inserted as Schedule 7 to the Casino (Management
Agreement) Act 1993.
C. The parties have agreed to further vary the Management Agreement
as provided in this Deed of Variation.
15 AGREEMENT
1. Definitions
Unless the context otherwise requires or the contrary intention
appears, terms defined in the Casino Control Act 1991 or the
Management Agreement have the same meaning when used in this
20 Deed.
2. Ratification and operation of provisions
2.1 A Minister of the State must introduce and sponsor a Bill in the
Parliament of Victoria to ratify this Deed as soon as reasonably
practicable after its execution.
25 2.2 This Deed shall come into operation once the Bill referred to in
clause 2.1 has come into operation as an Act.
3. Variation of Management Agreement
The State and the Company agree to vary the Management
Agreement so that:--
30 (a) the following definitions in clause 2 shall be deleted;
'Melbourne Casino Complex (excluding the Lyric Theatre
and the Southern Tower of the Hotel)'
'Lyric Theatre'
(b) the definition of 'Completion' in clause 2 shall be varied by:
35 (i) deleting the words 'the Lyric Theatre and' after the word
'excluding'; and
(ii) deleting the words 'the Lyric Theatre' after the words 'the
Training and Human Resource Centre,';
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(c) the definition of 'Completion Date' in clause 2 shall be varied
by deleting the words 'the Lyric Theatre and' in paragraphs (d)
and (e);
(d) the definition of 'Completion Standards' in clause 2 shall be
5 varied by:
(i) deleting the words 'the Lyric Theatre and' after the word
'excluding'; and
(ii) deleting the words 'the Lyric Theatre' after the words 'the
Training and Human Resource Centre,';
10 (e) the definition of 'Melbourne Casino Complex' in clause 2
shall be varied by inserting the words 'and such other facilities
as are nominated by the Company, with the approval of the
Minister, as forming part of the Melbourne Casino Complex'
after the words 'Ancillary Facilities';
15 (f) the definition of 'Site' in clause 2 shall be varied by deleting
the words 'available for the construction of any part of the
Melbourne Casino Complex' and inserting the words 'part of
the Site';
(g) clause 10.1 shall be varied by deleting the words 'the Lyric
20 Theatre and' after:
(i) the word 'excluding' in paragraph (c); and
(ii) the word 'Complete' in paragraph (d);
(h) clause 10.4 shall be varied:
(i) by deleting the words 'the Lyric Theatre and' after the
25 words 'Training and Human Resource Centre,' where first
appearing; and
(ii) by deleting the comma and words ', the Lyric Theatre'
after the words 'Training and Human Resource Centre,
where secondly appearing;
30 (i) clause 15.1 shall be varied by:
(i) deleting the words 'Lyric Theatre and' after the words
'excluding the'; and
(ii) deleting the words 'the Lyric Theatre' before the words
'the Southern Tower of the Hotel';
35 (j) clause 15.11 shall be deleted;
(k) clause 16.1 shall be varied by deleting the words 'the Lyric
Theatre and' after the word 'excluding';
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(l) clause 16.3 shall be varied by deleting the words 'Lyric Theatre
and' after the word 'excluding';
(m) clause 17.1 shall be varied by:
(i) deleting the words 'the Lyric Theatre and' after the word
5 'excluding' in paragraph (c); and
(ii) deleting the words 'the Lyric Theatre and' in
paragraph (d);
(n) clause 17.2 shall be varied by:
(i) deleting the words 'the Lyric Theatre and' wherever
10 appearing in paragraphs (b) and (c);
(ii) deleting the words 'both the Lyric Theatre and' wherever
appearing in paragraph (d); and
(iii) substituting the word 'is' for the word 'are' in paragraph
(d) wherever appearing; and
15 (o) clause 17.3 shall be varied by deleting the words 'the Lyric
Theatre and' in paragraph (a) wherever appearing.
4. Payment to the State
4.1 The Company agrees to pay to the State $18 million ('Payment') by
6 instalments of $3 Million each payable within 30 days of invoice
20 from the State for each instalment the first of which is to be issued
on the date of ratification of this Deed in accordance with clause 2
and the further invoices to be issued on each anniversary of this
Deed in the 5 years following.
4.2 The Payment will be paid by the State into a Trust Account
25 established under Part 4 of the Financial Management Act 1994 in
order that the principal and interest shall be applied by the State for
the construction of high profile cultural facilities in the Southbank
Arts Precinct Area.
4.3 If the Company fails to make the Payment on the due date, without
30 prejudice to any other right or remedy arising because of that failure,
the Company must pay to the State interest (calculated daily) on the
amount in default (including accrued interest) at the Default Rate for
the period from the due date until payment is made (including all
interest due under this clause).
35 4.4 This clause 4 and clauses 5 and 6 are not conditions of the Casino
Licence and their performance is not to be taken into account in the
regulation of the Company under the Casino Control Act 1991 or the
Casino (Management Agreement) Act 1993. Any breach of these
clauses will not be taken to be a breach of the Management
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Agreement and in particular for the purposes of clause 25.2 of the
Management Agreement.
5. Alternative Project
5.1 The Company agrees to construct or procure an alternative project
5 the nature and the timing of which is to be determined at the sole
discretion of the Company. The Company, at its cost, shall be solely
responsible for obtaining all permits and approvals necessary for
such alternative project.
5.2 The estimated cost of the alternative project shall be not less than
10 the estimated cost of constructing the Lyric Theatre of $42 million,
the amount determined on 9 March 2001 by a quantity surveyor
appointed by the State.
5.3 The Company shall submit drawings, plans, specifications and
details relating to the alternative project to the State so that the State
15 may have the estimated cost thereof verified by a quantity surveyor
to be appointed by the State, acting reasonably. If the estimated cost
so verified is less than $42 million, the Company agrees to construct
or procure a further stage or stages of the alternative project (the
nature and the timing of which is to be determined at the sole
20 discretion of the Company) to make up the shortfall in estimated
cost. Clauses 5.1 and 6, and the verification process in this clause
apply to any such further stage.
6. Location of the Alternative Project
6.1 The Company may give notice to the State as to whether the
25 alternative project will:
(a) form part of the Melbourne Casino Complex; or
(b) not form part of the Melbourne Casino Complex, but be
located on land within the area bounded by Queensbridge
Street, City Road, Clarendon Street and Whiteman Street and
30 that such land:
(i) is designated by the Company as part of the Site; or
(ii) will not be part of the Site.
6.2 (a) If clause 6.1(a) applies, the parties must, within 6 months after
the date of the notice under clause 6.1, enter into a further
35 Deed of Variation of the Management Agreement that will
provide for the alternative project to be part of the Melbourne
Casino Complex and subject to the Company's discretion under
clause 5.1 and to all the requirements mutatis mutandis of the
Management Agreement and the Casino (Management
40 Agreement) Act 1993.
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(b) If clause 6.1(b)(i) applies the Minister may approve or reject
the Company's designation of that land as part of the Site. If
the Minister approves that designation, the Minister must cause
the Melbourne Casino Area to be increased, under section
5 128C(1)(b) of the Casino Control Act, so that it is the same
area as the Site, within 6 months after the date of the notice
under clause 6.1. The alternative project will not constitute a
change to the Drawings.
7. Force Majeure Event
10 None of the negotiation, preparation and execution of this Deed, its
ratification under clause 2 or any of the circumstances relating to or
giving rise to the creation of this Deed has or will cause or create
any Government Action, Force Majeure Event or breach of
obligation under any Transaction Document and the Company and
15 the State so acknowledge.
8. Confirmation of other terms
The parties acknowledge and confirm that except as varied by this
Deed the terms and conditions of the Management Agreement
remain in full force and effect.
20 9. Entire Agreement
This Deed is the entire agreement between the parties concerning
the subject matter and replaces all previous representations,
communications and agreements on the subject matter.
10. General provisions
25 Clauses 33 and 35 to 40 (inclusive) of the Management Agreement
apply to this Deed as if expressly included in this Deed.
EXECUTED as a Deed.
SIGNED SEALED AND DELIVERED by )
THE HONOURABLE )
30 JOHN PANDAZOPOULOS MP ) J. PANDAZOPOULOS
Minister for Gaming for and on behalf )
of the State of Victoria in the presence )
of:
(signature)
...................................................................
witness
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MARCELLE BÂGU
Name of witness
THE COMMON SEAL of )
CROWN LIMITED is affixed in )
5 accordance with its articles of ) LS
association in the presence of: )
Secretary Name STEPHEN WRIGHT
Director Name ASHOK JACOB
Witness Name .'.
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Endnotes
Act No.
ENDNOTES
By Authority. Government Printer for the State of Victoria.
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