Legislative Assembly for the ACT: 2002 Week 4 Hansard (11 April) . . Page.. 1169..
I am also advised that the National Capital Motorsports Club has a similar $10m insurance coverage.
(3) (a) The issue of adequate coverage for scheduled events will be addressed as part of the Government's insurance adviser's assessment;
(b) I am advised that ad-hoc racing activities without adequate supervision are not conducted on either lease. It should be noted that the tracks are either supervised by a track manager and/ or locked when not in use.
(4) As the Commonwealth is the landowner of the ACT, and the Territory manages the Territory Land component on behalf of the Commonwealth, there is nothing to prevent a damages claim being made against either Government. In order to protect the Commonwealth from such claims (noting that both leases were granted by the Commonwealth prior to self Government), each lease requires the lessee to indemnify the Commonwealth against all actions and omissions by the lessee. As this land is now Territory Land, this indemnity now extends to the Territory. The indemnity is, of course, only as good as the each lessee's capacity to pay. The extent of protection for the Territory against such a damages claim will be confirmed as part of the Government's insurance adviser's assessment.
(5) Any prerequisites needed to obtain the relevant insurances are matters of internal policy for each insurance company in the motor sports market. These prerequisites vary, and may or may not include requirements to license tracks.
(6) The Fairbairn Park lease contains four club tracks. I am advised that each track is licensed; either by the Confederation of Australian Motor Sports (CAMS), or by the relevant national or NSW peak body or association. I am advised that the National Capital Motorsports track is not licensed.
(7) The Fairbairn Park lease has a rental of $1,430 per quarter, and the National Capital Motor Sports Club lease has a rental of $770 per quarter
(8) Each lessee is up to date with rental payments.