5   Continuation of Wagga Wagga Racecourse Reserve Trust

For the purposes of Division 4 of Part 5 of the Crown Lands Act 1989 (Formation of reserve trusts):

(a)  the former trustee continues as a reserve trust and as a corporation constituted by that Act with the corporate name of “Wagga Wagga Racecourse Reserve Trust”, and

(b)  the appointment of the reserve trust as trustee of the Wagga Wagga Racecourse is confirmed, and

(c)  each of the persons holding office as members of the trust board of the former trustee immediately before the commencement of this Act continues in office as a member of the trust board of the reserve trust.