Territory Stories

Extension of Internet Gaming Operators Agreement Between Hon. S J Stirling Minister for Racing Gaming and Licensing and Lasseters Casino PTY LTD dated 19 November 2001

Details:

Title

Extension of Internet Gaming Operators Agreement Between Hon. S J Stirling Minister for Racing Gaming and Licensing and Lasseters Casino PTY LTD dated 19 November 2001

Other title

Tabled paper 164

Collection

Tabled Papers for 9th Assembly 2001 - 2005; Tabled papers for 9th Assembly 2001 - 2005; Tabled papers; ParliamentNT

Date

2001-11-28

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/284808

Citation address

https://hdl.handle.net/10070/407768

Page content

21 (b) a period of 14 days has elapsed following the giving of that notice; (c) the mortgagee has not within that period of 14 days by notice in writing to the Minister agreed and undertaken to rectify the defaults or matters by reasons of which the Minister has become so entitled; (d) if the mortgagee has agreed and undertaken to rectify-the defaults or matters by reason of which the Minister has become entitled to cancel the licence, the mortgagee has not within a further period of 14 days after that period of 14 days (or such longer period as may be allowed by the Minister) rectified the defaults or other matters by reason o f which the Minister has become so entitled; and (e) the mortgagee has not (if the Minister so directs by notice in writing to the mortgagee) appointed a receiver and manager or receivers and managers o f the mortgaged property (but this paragraph (e) shall not apply if the mortgagee has on a previous occasion appointed a receiver and manager or receivers and managers whose appointment has not been terminated). This clause 6.4 shall not apply if on more than one previous occasion in any period of 3 years after the Operator has mortgaged the licence and/or its rights and benefits under this agreement the Minister has become entitled to cancel the licence. 6.5 Appointment of Receivers and Managers A If the mortgagee wishes to enforce its security in respect o f the mortgaged property by appointing a receiver and manager or receivers and managers, that mortgagee shall by notice in writing to the Minister request the Minister to nominate at least 4 persons who are qualified under the Corporations Law to act as receivers and managers and each of whom would be acceptable to the Minister as a receiver and manager of the mortgage property. The Minister shall, within 14 days o f receiving notice from the mortgagee making that request, nominate one of those 4 persons by notice in writing to the mortgagee to be the receiver manager. If the Minister makes a nomination in accordance with the foregoing, no person shall be appointed as receiver and manager other than a person so nominated. 6.6 Application by Mortgagee If any mortgagee wishes to enforce its security in respect o f the mortgaged property by taking possession itself and not by appointing a receiver and manager or receivers and managers the mortgagee may, upon becoming entitled to enforce its security in respect of the mortgage property, make application to the Minister under the Control Act for the grant of an internet gaming licence . Upon such application the Minister shall grant an internet gaming licence subject to any reasonable conditions imposed by the Minister, and upon the grant of such licence to the applicant, the Minister shall terminate the licence held by the Operator. 6.7 Operator's obligation to notify events of default The Operator must immediately give notice to the Director if it becomes aware that an event of default or any other event listed in clause 6.2 has occurred. DRWDOCS\COULTSI\26019.13


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