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The State Labor Government has contravened the spirit of the law in the sale of NSW Lotteries by selling unclaimed prize money, which may mean the legislation needs to come back to Parliament, Shadow Treasurer Mike Baird said today.
“Only this incompetent State Labor Government could get itself into a legal mess on laws it created,” Mr Baird said.
“The final sale of NSW Lotteries was completely different to the transaction presented to Parliament and the Treasurer now must explain why,” he said.
Mr Baird said according to legal advice from leading Sydney law firms, the commercial intent of the Bill – outlined in Clause 27A – was to keep the unclaimed prize money with the State Government.
“Either Treasurer Eric Roozendaal is completely incompetent or he has arrogantly chosen to thumb his nose at the NSW Parliament,” Mr Baird said.
“Not only was the winning bidder allowed access to a significant asset that was not on the table for other bidders, but legal advice now suggests this contravenes the spirit if not the letter of the law.
“There is no question the Treasurer was trying to rush this sale through and has lost his remaining moral authority in the process.
“This matter is currently under review by the Auditor General and the legislation could be required to be brought back to Parliament.
“Eric Roozendaal needs to look the NSW taxpayers in the eye and explain every element of this transaction, which appears to have contravened his own law.
“The concern for taxpayers is that it appears the State Labor Government has sold a valuable asset for up to $100 million less than it is worth.
“This is another significant transaction that the State Labor Government has completely bungled at the taxpayers’ expense,” Mr Baird said.
MEDIA: Lisa Harrington - 0406 726 880
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