Sydney Turf Club (Amendment) Act 1955 (NSW)

SYDNEY TURF CLUB (AMENDMENT) ACT.

Act No. 44, 1955.

An Act to remove the restrictions on borrowing Elizabeth ii,

and the acquisition and sale of land by the Sydney Turf Club; to abolish the Racing Compensation Fund established by the Sydney Turf Club Act, 1943; for these and other purposes to amend the said A ct; and for purposes connected therewith. [Assented to, 29th November, 1955.]

I^ E it enacted by the Queen’s Most Excellent Majesty,

by and with the advice and consent of the Legis­

lative Council and Legislative Assembly of New South

Wales in Parliament assembled, and by the authority of

tlie same, as follows :—

1. (1) This Act may be cited as the “ Sydney Turf short title

Club (Amendment) Act, 1955.”

(2) The Sydney Turf Club Act, 1943, as amended by this Act, may be cited as the Sydney Turf Club Act, 1943-1955.

2 . The Sydney Turf Club Act, 1943, is amended—

Amendment

of Act No.

22, 1943.

(a) (i) by omitting from subsection one of section Sec. 9.

nine the words “ to such extent as may	accommoda­
(Temporary
from time to time be approved by the	tion.)
Governor’ ’;

(ii)   by omitting subsections two and three of the same section;

(b) (i) by omitting from subsection one of section Sec. 10.

ten the words “ with the approval of the	(Power to
Governor” ;	borrow.)

23617—15 ( i i )

450                Sydney Tun Ch!) (Amendment) Act.

No. 44, 1955.	(ii)	by omitting from the same subsection the words ‘ ‘ to the Colonial Treasurer or to any bank” and by inserting- in lieu thereof the words “ of the Club” ;
(iii)	by omitting from the same subsection the words “ with such approval” ;
(iv)	by omitting from the same subsection the words “ which may be approved by the Governor on the recommendation of the Minister ’ ’;
(v)	by omitting from the same subsection the words “ The approval of the Governor to any borrowing under this subsection shall not be given except upon the recommenda­ tion of the Colonial Treasurer.” ;
(vi)	by omitting from subsection two of the same section the words “ when the borrow­ ing has been so approved” ;
(vii)	by omitting subsection three of the same section;
(viii)	by omitting from subsection four of the same section the ivords “ and may contain such powers and provisions as the Governor approves” ;

Bee. 12.	(c) by omitting subsection three of section twelve;
(Purchase.)
['’irst Sch.	(d) by omitting clause three of the Regulations

in the First Schedule;

'J’liird Sch. (e) (i) by omitting from paragraph (a) of the Third Schedule the words “ but the approval of the Governor to any purchase of land or acquisition of a leasehold interest shall be first obtained” ;

(ii)  by omitting from paragraph (p) of the sami-i Schedule the words “ , but no sale of any lands vested in the Club shall be made save with the previous consent of the Minister” .

Interest Reduction (Amendment) Act. 451

3 . (1) The Sydney Turf Club Act, 1943, is further 4̂ 1955.

amended—

Further

amendment

of Act No.

22,1943.

(a)	by omitting from section two the words “PART Sec.2.
III.— E.VCING C o m p e n s a t io n F u n d . ” ; (Division

’

into

Parts.)

(b)	by omitting from section three the definition of Sec. 3.
‘ ‘ Compensation Fund ’ ’; tatira
(c)	by omitting from subsection eight of section ten See. lo.

the words “ , or where an arrangement is made

whereby the obligations of the Compensation '

Fund in respect of compensation under section seventeen of this Act are to be discharged by the issue by the Club of debentures to the persons entitled to such compensation or to their nominees” ;

(d)	by omitting sections fifteen, sixteen, seventeen Bepeai of
and eighteen. lê iT̂ and

(2) The amendments made by subsection one of this section shall commence upon a day to be appointed by the Governor and notified by proclamation published in the Gazette.