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
Tabled paper 164
Tabled Papers for 9th Assembly 2001 - 2005; Tabled Papers; ParliamentNT
2001-11-28
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https://www.legislation.gov.au/Details/C2019C00042
https://hdl.handle.net/10070/284808
https://hdl.handle.net/10070/407768
8 (e) subject to paragraph (g) and (m), after the effective date no director or secretary of Lasseters Corporation shall be appointed without the consent in writing of the Minister (which consent may be granted or withheld by the Minister in his absolute discretion); (f) after the effective date Lasseters Corporation shall notify the Minister of the issue of any share in its capital within 14 days o f such issue; (g) upon a director or secretary of Lasseters Corporation being appointed there shall be a period of 14 days during which the Operator shall make application to the Minister for his consent for the purposes of paragraph (e). During that period of 14 days the Operator shall not be in breach of this agreement nor shall there be an event o f default by reason of the lack of the Minister's consent for the purposes of paragraph (e). Should application for consent be made within the 14 day period specified the Operator shall not be in breach of this agreement nor shall there be an event of default by reason of lack of the Minister's consent for the purposes of paragraph (e) Until the Minister has notified the Operator of his decision to grant or withhold consent as the case may be; (h) within 14 days of: (i) Lasseters Corporation becoming obliged to file with the Australian Securities Investment Commission or the Australian Stock Exchange or any other regulatory authority notification of a person becoming legally or beneficially entitled to, or otherwise gain effective control of, 5% or more of the issued share capital of Lasseters Corporation ; or (ii) Lasseters Corporation becoming aware that a person is legally or beneficially entitled to, or otherwise has effective control of, 5% or more of the issued share capital of Lasseters Corporation; the Operator shall notify the Minister of such occurrence; (i) Lasseters Holdings shall not reduce its interest in Lasseters Corporation below a 51% holding of the issued share capital of Lasseters Corporation, prior to the Operator obtaining the Minister's consent. The Minister shall not give his consent unless a person, suitable to the Minister, holds or shall hold after the Minister gives his consent at least 51% of the issued share capital of Lasseters Corporation and in any event will be the registered owner of the controlling interest in the capital of Lasseters Corporation. Where Lasseters Holdings seeks to reduce its interest in Lasseters Corporation below 51% of the issued share capital, no reduction in interest will be effective until the Minister's consent has been obtained. (j) where the Minister: (i) receives notification under paragraph (h) or otherwise becomes aware that a person has become entitled to a legal or beneficial interest, or has otherwise gained effective control o f 5% or more of the issued capital of Lasseters Corporation, the Minister may carry out, or cause to be carried out, such investigations and inquiries as the Minister considers necessary to determine whether the person or an associate of DRWDOCS\CC)ULTSI\26019.13