(2) On the surrender of the land under subsection (1)— (a) Crown lease Volume 10757 Folio 757 is revoked; and (b) the chairman of the committee of the Victoria Racing Club is freed and discharged from all further duties and liabilities under any trust in respect of that land; and (c) the Racing Victoria Centre land is deemed to be unalienated land of the Crown, freed and discharged from all trusts, limitations, reservations, restrictions, encumbrances, estates and interests. S. 95D 95D Crown lease inserted by No. 92/2005 (1) On or after the surrender of the Racing Victoria s. 4. Centre land under section 95C, the Governor in Council, on behalf of the Crown, may grant a lease of the Racing Victoria Centre land to Racing Victoria for the purposes of the administration of horse racing, including— (a) the use of that land for purposes connected with and for the benefit of horse racing and other sports in Victoria; and (b) training, research and analytical testing. (2) A lease under subsection (1) may be for an initial term not exceeding 64 years. (3) A lease granted under subsection (1)— (a) may contain provision for the term of the lease to be extended one or more times, but— (i) each extension of the term must not exceed 64 years; and
(2) On the surrender of the land under subsection (1)— (a) Crown lease Volume 10757 Folio 757 is revoked; and (b) the chairman of the committee of the Victoria Racing Club is freed and discharged from all further duties and liabilities under any trust in respect of that land; and (c) the Racing Victoria Centre land is deemed to be unalienated land of the Crown, freed and discharged from all trusts, limitations, reservations, restrictions, encumbrances, estates and interests. S. 95D inserted by No. 92/2005 s. 4. 95D Crown lease (1) On or after the surrender of the Racing Victoria Centre land under section 95C, the Governor in Council, on behalf of the Crown, may grant a lease of the Racing Victoria Centre land to Racing Victoria for the purposes of the administration of horse racing, including— (a) the use of that land for purposes connected with and for the benefit of horse racing and other sports in Victoria; and (b) training, research and analytical testing. (2) A lease under subsection (1) may be for an initial term not exceeding 64 years. (3) A lease granted under subsection (1)— (a) may contain provision for the term of the lease to be extended one or more times, but— (i) each extension of the term must not exceed 64 years; and