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

5 2.2 Term This agreement shall commence on the effective date and shall expire on 30 June 2018 unless sooner terminated under clause 6.2, or unless the licence is sooner surrendered or cancelled , in which case this agreement shall expire on the date of surrender or cancellation. 2.3 Additional Term (a) If Ford Dynasty becomes entitled to an Operating Contribution payment under clauses 15.1, 15.2 and 15.3 of the Development Agreement for each consecutive quarter of the year, but has not received the maximum aggregate sum referred to in clause 2.3(b), then after 8 years from the effective date the Operator will be entitled to an extension of the term of the licence for an additional year, subject to: (i) the maximum number o f years by which the licence may be extended is five; and (ii) any application for an extension of the licence term under this clause shall be in each year immediately subsequent to the year in which such entitlement arises; and (iii) the Minister being satisfied that none of the events listed in clause 6.2 are operative. ' j (b) If Ford Dynasty has received payment under the Development Agreement o f the maximum aggregate sum payable in respect of the Operating Contribution, then for each year thereafter that Ford Dynasty achieves the Operating Standard, the Operator will be entitled to an extension of the term of the licence for an additional year, subject to: (i) the maximum number o f years by which the licence may be extended is five; and (ii) any application for an extension of the licence term under this clause shall be made in the year immediately subsequent to the year in which such entitlement arises; and (iii) the Minister being satisfied that none of the events listed in clause 6.2 are operative. (c) Where the Operator has applied for an extension of licence term in accordance with clauses 2.3(a) and 2.3(b), prior to any subsequent application for further extensions under these clauses the Operator shall confirm its intention to seek an extension to the term of the licence that is equivalent to the sum of previous extensions requested and the current extension sought. (d) Where the Operator does not confirm the total number of years of extension to the licence term in accordance with Clause 2.3(c), the Minister may refuse to accept any applications for extension under clauses 2.3(a) and 2.3(b) until the Operator advises of its intention to utilise or not to utilise previous extension requested. DRWDOCS\COULTSI\26Q 19.13


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