Victorian Numbered Acts Victorian Numbered Acts(1) Nothing done by this Part affects the status or continuity of—
(a) the lease over land in the Crown grant, in force immediately before the revocation of the Crown grant, entered into by the trustees of the Caulfield Racecourse Reserve with the Victoria Amateur Turf Club trading as the Melbourne Racing Club and commencing on 23 April 2008 in relation to the premises known as the Neerim Road Stables, including any sublease, licence, agreement or other interest arising under that lease; or
(b) the lease over land in the Crown grant, in force immediately before the revocation of the Crown grant, entered into by the trustees of the Caulfield Racecourse Reserve with the Victoria Amateur Turf Club and commencing on 1 April 1998 in relation to the premises known as the Western Stables, including any sublease, licence, agreement or other interest arising under that lease.
(2) A lease referred to in subsection (1) has effect from the revocation of the Crown grant until the commencement of Part 2—
(a) as a lease between the Minister administering the Crown Land (Reserves) Act 1978 as lessor and the lessee for the time being under the lease, as if it had been assigned to the Minister administering the Crown Land (Reserves) Act 1978 ; and
(b) as if the lease referred to that Minister instead of the trustees of the Caulfield Racecourse Reserve.
(3) Nothing done by virtue of this Part—
(a) is to be regarded as placing any person in breach of, or as constituting a default under, any provision of a lease referred to in subsection (1) including any provision prohibiting, restricting or regulating the assignment of the lease; or
(b) is to be regarded as fulfilling any condition which allows a person to exercise a right or remedy in respect of, or to terminate, any agreement or obligation; or
(c) releases any surety or other obligor wholly or in part from any obligation.