The purposes of this Act are—
(a) to establish a Trust to manage the Caulfield Racecourse Reserve for racing, recreation and public park purposes; and
(b) to confer functions, duties and powers on the Trust in relation to the management of the Caulfield Racecourse Reserve, including leasing and licensing powers; and
(c) to allow the Minister to give directions to the Trust in relation to the carrying out of the Trust's functions, duties and powers; and
(d) to allow the Minister to appoint, suspend and remove members of the Trust; and
(e) to create a mechanism to define certain areas of the Caulfield Racecourse Reserve that may be used for each of the purposes for which the land is permanently reserved; and
(f) to provide for other related matters in relation to the management of the Caulfield Racecourse Reserve; and
(g) to revoke a Crown grant and provide for the dissolution of the appointment of trustees under the grant; and
(h) to make consequential amendments to other Acts.