Macau Concession Agreement-Wynn Resorts
Macau Concession Agreement-Wynn Resorts
Macau Concession Agreement-Wynn Resorts
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EX10.276a2088833zex10_27.htmEXHIBIT10.27
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Exhibit10.27
DECLARATION
I,LAMShingMing([Chinesecharacters]),male,holderofHongKongIdentityCardNo.G085965(5),ofDiners
ProfessionalTranslationServices,13C,RightEmperorCommercialBuilding,122126WellingtonSt.,Central,HongKong,
solemnlyandsincerelydeclarethat:
1.IamconversantwiththeChineseandEnglishlanguages.
2.Ireceivedmy"MasterofArtsinTranslation"degreefromtheChineseUniversityofHongKongin1996.
3.IhavehadexperienceintranslatinglegaldocumentsfromChineseintoEnglishforover10years.
4.Iherebycertifythatthe64pagedocumentheretoattachedandmarkedExhibit"A"andentitled"Concession
ContractforOperatingCasinoGamingorOtherFormsofGamingintheMacaoSpecialAdministrativeRegion"isa
true,correctandcompleteEnglishtranslationofthe54pageChinesedocumentheretoattachedandmarkedExhibit"B"and
entitled"[Chinesecharacters]".
AndImakethissolemndeclarationconscientiouslybelievingthesametobetrueandbyvirtueoftheOathsand
DeclarationsOrdinance.
DeclaredattheAmericanConsulateGeneral
HongKong,26GardenRoad,Central,
HongKongthis30thdayofAugust,2002.
)
)
)
/s/LAM,SHINGMING
SignatureofDeclarant
LAM,ShingMing
beforeme,
ConsulateGeneralofthe
UnitedStatesofAmerica
atHongKong
)
)SS:
)
Subscribedandsworntobeforemethis30 thdayofAugust,2002byLAMShingMing.
/s/MARISAL.PLOWDEN
MarisaL.Plowden,
ViceConsul
ConcessionContractforOperatingCasinoGamingorOtherFormsofGamingintheMacaoSpecialAdministrative
Region
Onthe24thdayofJune,2002,intheHeadquartersoftheGovernmentoftheMacaoSpecialAdministrativeRegionin
AvenidadaPraiaGrande,Macau,duetotheabsenceoftheSpecialNotaryPublicoftheFinanceServicesBureau,I,Choo
YickChong(transliteration),SeniorTechnicianIIoftheLegalAssistanceCentreofthesaidBureau,havebeenappointedto
betheSubstituteSpecialNotaryPublicpursuanttotheprovisionsofOrderNumber216/2000oftheChiefExecutivedated
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8thNovember.ThefollowingPartiestothisContractwereinfrontofme:
PartyA:
TheMacaoSpecialAdministrativeRegion,representedbytheChiefExecutiveEdmundHoEdmundHo,
married,businessaddressattheGovernmentHeadquarters,AvenidadaPraiaGrande,Macau.Ihave,pursuant
totheprovisionsofArticle45oftheBasicLawoftheMacaoSpecialAdministrativeRegion,verifiedhis
capacityandauthority.
PartyB:
WynnResorts(Macau)Limited,withheadquartersatAvenidadaAmizade,nmero918,edificio"World
TradeCentre",8.andar"C"Macau,whoseRegistrationNumberattheBusinessandAutomobile
RegistrationBureauis14917,isrepresentedbySTEPHENALANWYNN,amemberofitsadministrationand
managementorgan.STEPHENALANWYNNismarriedandresidesatOneShadowCreekDrive,NorthLas
Vegas,Nevada,UnitedStatesofAmerica.Byrelyingonanidentificationdocumentissuedbythesaid
RegistrationBureau,Ihaveverifiedhiseligibilityandauthorityandfiledthesame.
TheidentityofPartyAhasbeenverifiedasIampersonallyacquaintedwithhim.TheidentityofPartyAhasbeen
verifiedbymeonthebasisofthePassportNo.055142925presentedbyhimandissuedon20 thJanuary1998bytheSan
FranciscoPassportAgencyOfficeoftheUnitedStates.
PartyAdeclaresinitsaforesaidcapacitythat:
BytheOrderNo.217/2001oftheChiefExecutive,theprocessofopenandpublictendersforthe(three)concession
licensesforoperatingcasinogamingsorotherformsofgamingoperationswaslaunched.
(Stamp)
[ThisistheexhibitmarkedAreferredtointheDeclarationofLAMShingMingdeclaredbeforemeon30
August2002.]
Theprocessofopenandpublictendersforthe(three)concessionlicensesforcasinogamingsorotherformsofgaming
operationswaslaunchedfollowingtheactofopening'thetenders.Theactofopeningthetenderswasdividedintotwostages
thestageofopeningthevarioussealedenvelopesonwhichtheword"Documents"wasspecifiedandthestageofopening
thevarioussealedenvelopesonwhichtheword"Tender"wasspecified.Followingthat,aconsultationstagewascarriedout
duringwhichthetenders"wereintroducedandreviewed.Theprocessofopenandpublictenderswascompletedaftera
expositoryreporthasbeenprepared.Basedonthatreport,theChiefExecutivehasannouncedtheawardoftheprovisional
concessionairesfortheconcessionlicensesforoperatingcasinogamingsorotherformsofgamingoperationswhichwere
madeavailableforpublictenders.
BytheOrderNo.26/2002oftheChiefExecutive,oneoftheConcessionLicensesforCasinoGamingsorOtherFormsof
GamingOperationswhichweremadeavailableforpublictenderswasgrantedtoWynnResorts(Macau)Limited,which
becameoneoftheprovisionalconcessionaires(hereinafterreferredtoasthe"Concessionaire")
2
PursuanttotheprovisionsofClause1ofArticle84oftheAdministrativeRegulationNo.26/2001,theConcessionaire
hasprovidedthesecuritydepositforguaranteeingtheConcessionaire'sperformanceofitsstatutoryobligationsor
contractualobligations:
PursuanttotheprovisionsofClause5ofArticle82oftheAdministrativeRegulationNo.26/2001,theConcessionaire
hasprovedtotheCommissionfortheFirstPublicTendertoGrantConcessionstoOperateCasinoGamesofChancethatit
haspaidinfullincashthecompanycapitalinthesumofnotlessthan200millionpatacas,andthatthecompanycapitalhas
alreadybeendepositedwithabranchorsubsidiaryofalocalcreditagencyorofacreditagencywhichhasbeenapprovedfor
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operatingintheMacaoSpecialAdministrativeRegion
TheConcessionairehasagreedtothisDraftConcessionContractforOperatingCasinoGamingsorOtherFormsof
GamingintheMacaoSpecialAdministrativeRegion
TheConcessionaire,shareholdersholding5%orover5%ofthecompanycapitaloftheConcessionaire,andthedirectors
oftheConcessionairehavesubmittedtotheprocedureswhichdeterminewhethertheypossesstheproperqualifications.Such
procedureswerecompletedafterthesaidreporthasbeenprepared.Thereportindicatedthatthoseentitiespossesstheproper
qualifications
TheConcessionairehasalreadysubmittedtotheprocedureswhichdeterminewhetheritpossessesthefinancial
capabilitytooperatetheConcessionLicenseforCasinoGamingsorOtherFormsofGamingOperations.Suchprocedures
werecompletedafterthesaidreporthasbeenprepared.ThereportindicatedthattheConcessionairepossessestheproper
financialcapability
BytheOrderNo.142/2002oftheChiefExecutive,oneoftheConcessionLicensesforOperatingCasinoGamingsor
OtherFormsofGaming,whichwereavailableforpublictenders,hasbeengrantedtoWynnResorts(Macau)Limited.
BothPartiesdeclareintheiraforesaidcapacitiesthat,aftertheconsultationsbetweenbothParties,theyagreetoenter
intothisAdministrativeContractforTheConcessionLicenseforCasinoGamingsorOtherFormsofGamingOperations.This
AdministrativeContractshallbegovernedbythefollowingregulations.
Chapter1
Subject,Type,andTermofConcession
Article1
SubjectofConcession
1.
ThesubjectofconcessionofthisConcessionContractistheoperationofcasinogamingsorotherformsofgamingin
theMacaoSpecialAdministrativeRegionofthePeople'sRepublicofChina(hereinafterreferredtoasthe"Macao
SpecialAdministrativeRegion"or"ConcessionLicensor").
2.
TheConcessiondoesnotcovertheoperationofthefollowinggamingactivities:
(1)
MutualGaming
(2)
Gamingactivitiesprovidedtothepublicnevertheless,theapplicabilityoftheprovisionsofClause7of
Article3ofLawNo.16/2001shallnotbeobstructed
(3)
InteractiveGaming
(4)
Gamingoranyotherformsofgaming,betting,orgamingbusinessconductedinavesseloraircraft
nevertheless,theapplicabilityoftheprovisionsofClause3.1andClause4ofArticle5ofLawNo.16/2001
shallnotbeobstructed.
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Article2
ObjectofConcession
TheConcessionaireshallhavethefollowingobligations:
(1)
Toensuretheproperoperationandrunningofcasinogamingsorotherformsofgaming
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(2)
Intheoperationandrunningofcasinogamingsorotherformsofgaming,onlypersonswhopossesstheproper
qualificationstoholdsuchpositionsandassumesuchresponsibilitiesshallbeemployed
(3)
Tooperateandruncasinogamingsorotherformsofgaming,inamannerwhichis.fair,honest,andfreeofthe
influenceofcriminalactivities
(4)
TomaintainandprotecttheinterestsoftheMacaoSpecialAdministrativeRegioninreceivingtaxes
originatingfromtheoperationoftheConcessionaire'scasinosandothergamingzones.
Article3
ApplicableLawsandCompetentCourts
1.
ThisConcessionshallonlybeboundbythelawsoftheMacaoSpecialAdministrativeRegion.
2.
TheConcessionaireacceptsandsubmitsitselftotheexclusivejurisdictionoftheCourtsoftheMacaoSpecial
AdministrativeRegionintherulingofanydisputesorconflictsofinterestswhichmayarise.Therefore,itwaivesits
righttoinstitutelegalproceedingswithanycourtinanyareaoutsidetheMacaoSpecialAdministrativeRegion.
Article4
AbidingbytheLawsoftheMacaoSpecialAdministrativeRegion
TheConcessionaireshallabidebytheapplicablelawsoftheMacaoSpecialAdministrativeRegionandgiveup
adducingthelawsofaplaceoutsidetheMacaoSpecialAdministrativeRegion,particularlyforthepurposeofexemptingthe
performanceofobligationsoractswhichitmustperformorwhichareimposedonit.
Article5
ParticipationintheOperationofCasinoGamingsorOtherFormsofGaminginOtherJurisdictions
1.
IftheConcessionaireparticipatesintheproceduresofgrantinglicensesorconcessionsandtheoperationofcasino
gamingsorotherformsofgaming,aswellastheoperationofcasinogamingsorotherformsofgaminginanyother
jurisdiction,includingtheparticipationmerelythroughamanagementcontract,itshallinformtheGovernmentofthe
MacaoSpecialAdministrativeRegion(hereinafterreferredtoasthe"Government")ofsuchafact.Ifthe
Concessionaireisawarethatanyofitsdirectors,anyofitscontrollingshareholders,includingtheultimate
controllingshareholder,orifanyonewhodirectlyorindirectlyholds10%orover10%ofthecompanycapitalofthe
Concessionairebiasparticipatedintie.sameasmentionedabove,itshallalsoinformtheGovernmentimmediately.
2.
Fortheapplicabilityoftheprovisionsoftheaforesaidclause,theConcessionaireshall,basedonthespecific
circumstances,providetheGovernmentwithallthedocuments,materialsorinformationsorequestedoritshalltake
measurestoobtaintheaforesaiddocuments,materialsorinformationwhicharerequiredtobeprovidedtothe
Government.However,documents,materialsorinformationwhichareconfidentialpursuanttotheprovisionsoflaw
shallbeexcepted.
4
Article6
TheConcessionarySystem
Theconcessionarysystemiscomposedofalegalframework,andsuchalegalframeworkincludesthelegalsystem
governingtheoperationofcasinogamingsorotherformsofgamingadoptedinLawNo.16/2001,AdministrativeRegulation
No.26/2001,RulesfortheImplementationofGaming,particularlytherulesstatedinArticle55ofLawNo.16/2001,other
complementaryregulationstoLawNo.16/2001,andthisConcessionContract.
Article7
OperationofBusinessinConcession
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TheConcessionaireshalloperatethebusinessinconcessionpursuanttotheprovisionsandconditionssetforthinthis
ConcessionContract.
Article8
TermofConcession
1.
2.
TheaforesaidprovisionsshallnotobstructtheapplicabilityofthosetermsinthisConcessionContractwhicharestill
effectiveevenaftertheexpiryoftheTermofConcession.
Chapter2
PlacesfortheOperationandRunningofCasinosandOtherGamingZones
Article9
PremisesforOperatingtheBusinessinConcession
1.
Incarryingonitsbusiness,theConcessionairecanonlyoperatecasinogamingsorotherformsofgaminginthose
casinosandothergamingzoneswhichhavebeenpreapprovedandclassifiedbytheGovernment.
2.
Thereassignedusageofanyotherpremiseswhicharefortheoperationofthebusinessinconcessionshallbesubject
totheapprovaloftheGovernment.
Article10
GamingTypes,GamingTables,andElectricalorMechanicalGamingMachines
1.
TheConcessionaireislicensedtooperateallthoseformsofgamingreferredtoinClause3ofArticle3ofLaw
No.16/2001,aswellasotherformsofgamingallowedpursuanttotheprovisionsofClauses4and5ofthesame
Article.TheConcessionaireisalsoallowedtooperateanyelectricalormechanicalgamingmachines,including"slot
machines",pursuanttotheprovisionsoflaws.
2.
InDecemberofeachyear,theConcessionaireshallsubmittotheGamblingInspectionandCoordinationBureaualist
whichspecifiesthequantitiesandlocationsofgamingtablesandelectricalormechanicalgamingmachines,
including"slotmachines",whichtheConcessionaireintendstooperateinthefollowingyear.
3.
Thequantitiesandlocationsofgamingtablesandelectricalormechanicalgamingmachines,including"slot
machines"operatedbytheConcessionaire,maybechangedbymeansofgivingadvancenoticetotheGambling
InspectionandCoordinationBureau.
5
Article11
ContinuousOperationofCasinos
1.
TheConcessionaireshallopenthecasinoseverydayandeveryyear.
2.
The,Concessionairemaysetthedailyhoursduringwhichthecasinosandtheactivitiescarryingonthereinare
openedtothepublicnevertheless,theapplicabilityoftheprecedingclauseshallnotbeobstructed.
3.
TheGovernmentshallbegivenadvancenoticeregardingthedailyhoursduringwhichthecasinosandtheactivities
carryingonthereinareopenedtothepublic,andthesameshallalsobepostedattheentranceofthecasinos.
4.
Ifthedailyhoursduringwhichthecasinosandtheactivitiescarryingonthereinareopenedtothepublicaretobe
changed,theGovernmentshallbegivenatleast3dayadvancenotice.
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Article12
TemporarySuspensionsoftheOperationofCasinosandOtherGamingZones
1.
IftheConcessionaireintendstotemporarilysuspendtheoperationofoneormorecasinosandothergamingzonesata
certainperiodoftimeononeormoredays,itshallrequesttheGovernment'sapprovalbysubmittinganexpository
applicationatleast3daysinadvance.
2.
Intheeventofemergenciesorforcemajeure,particularlywhenlifethreateningsituationssuchasseriousaccidents,
disastersornaturaldisastersoccur,theapprovalmentionedintheprecedingclauseshallbeexempted.Inthese
circumstances,theConcessionaireshallinformtheGovernmentofthetemporarysuspensionoftheoperationof
casinosandothergamingzonesassoonaspossible.
Article13
ElectronicSurveillanceandMonitoringEquipment
1.
TheConcessionaireshallinstallelectronicsurveillanceandmonitoringequipmentwhichhavebeenapprovedbythe
GamblingInspectionandCoordinationBureauandwhichareofsuperiorinternationalquality,inthecasinosand
othergamingzones.Therefore,theConcessionaireshallmakeanapplicationinwritingtothesaidBureau.The
applicationshallspecifytheequipmentintendedtobeinstalledandtherelevanttechnicalspecificationsshallbe
attachedthereto.Moreover,theGamblingInspectionandCoordinationBureaumayrequestthesamplemachinesor
samplesoftheaforesaidequipmentbeprovidedatanytime.
2.
IfsorequestedbytheGamblingInspectionandCoordinationBureau,theConcessionaireshallalsoinstallelectronic
surveillanceandmonitoringequipmentapprovedbytheBureauinotheradjoiningareasofthecasinosandother
gamingzones,orinotherareaswhichhaveaccesstoorareadjoiningtosuchcasinosandothergamingzones.
3.
IftheGamblingInspectionandCoordinationBureaumakesanexpositoryrequest,especiallywhensuchrequestsare
madeinordertoensurethattheelectronicsurveillanceandmonitoringequipmentaremaintainedatthesuperior
internationalqualitymentionedinClause1,theConcessionaireshallprocuretheinstallationofthenewelectronic
surveillanceandmonitoringequipmentapprovedbytheBureau.
4.
IftheConcessionaireisawareofanyactorfactwhichconstitutesanoffenceorillegaladministrativeact,andany
illegalactorfactwhichisconsideredseriousbytheConcessionaire,thesameshallbereportedtoacompetentpublic
authorityassoonaspossible.
6
Chapter3
TheConcessionaire
Article14
BusinessoperatedbytheCompany,itsLocationandForm
1.
ThebusinesstobeoperatedbytheConcessionaireshallbelimitedtotheoperationofcasinogamingsorotherforms
ofgaming.
2.
SubjecttotheGovernment'sapproval,thebusinesstobeoperatedbytheConcessionairemayincludebusinessesthat
arerelatedtocasinogamingsorotherformsofgaming.
3.
TheConcessionaireshallmaintainitscompanyaddressintheMacaoSpecialAdministrativeRegionandshall
maintainitsformoforganisationasalimitedcompanybyshares.
Article15
CompanyCapitalandShares
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1.
TheConcessionaireshallmaintainacompanycapitalofnotlessthan$200millionpatacas.
2.
AllofthecompanycapitaloftheConcessionaireshallonlybeshowninregisteredevidenceswhichindicateshares.
3.
TheincreaseoftheConcessionaire'scompanycapitalbymeansofpublicofferingshallbesubjecttothe
Government'sapproval.
4.
TheissueofprioritysharesbytheConcessionaireshallbesubjecttotheGovernment'sapproval.
5.
ThesettinguporissueofshareswhichsignifythetypesorclassesofthecompanycapitaloftheConcessionaireas
wellastheconversionofsuchsharesshallbesubjecttotheGovernment'sapproval.Moreover,theapplicabilityofthe
provisionsoftheprecedingclauseshallnotbeobstructed.
6.
TheConcessionaireshalltakemeasuressothatallthecompanycapitalofthosebodiescorporatewhichholdthe
sharesoftheConcessionaire,allthecompanycapitalofthosebodiescorporatewhichholdsuchcompanycapital
contributionofsuchbodiescorporate,andsoforthallthewayuptoallthecompanycapitalofnaturalpersonsor
bodiescorporatewhichbelongtotheultimateholdersofthecompanycapitalcontribution,aremerelyshownbyway
ofregisteredevidenceswhichindicateshares.However,inthecaseofbodiescorporateswhichareauthorizedtobe
listedinthesecuritiesexchange,whosesharesthataretradedinthesecuritiesexchangeshallbeexemptedfromsuch
restrictions.
Article16
TransferofSharesandSettingUpofEncumbrances
1.
Thelivingtransfer(inwhatsoevername)oforsettingupencumbrancesagainstthetitleofownershipofshareswhich
showthecompanycapitaloftheConcessionaireorotherrightsofsuchshares,aswellastheperformingofanyact
whichinvolvestheconferringofthevotingrightsorothershareholdersrightsuponanypersonotherthantheoriginal
holderofsuchrights,shallbesubjecttotheGovernment'sapproval.
2.
Ifasituationarisesasindicatedintheprecedingclause,theConcessionaireshallinanycircumstancehavethe
obligationtorefusetomakesuchrecordsforanyentitieswhichobtainorholdsharesshowingtheircompanycapital
inawaywhichviolatesthisConcessionContractorprovisionsofthelaw.Moreover,theConcessionaireshallnot
acknowledgetheshareholdercapacityofthesaidentitiesandshallnotperformanyactwhichacknowledgesinan
expressor
7
impliedmanneranyeffectofthelivingtransferorsettingupofencumbrancesmentionedintheprecedingclause.
3.
IfapostmortaltransferofthetitleofownershipofshareswhichshowthecompanycapitaloftheConcessionaireor
otherrightsofsuchsharesistobecarriedout,theGovernmentshallbeinformedassoonaspossible.The
Concessionaireshallmeanwhiletakemeasurestorecordsuchtransfersontoitsshareregister.
4.
AfterobtainingtheapprovalmentionedinClause1,iftheholderofthetitleofownershipofshareswhichshowthe
companycapitaloftheConcessionaireoriftheholderofotherrightsofsuchsharestransfersorsetsupencumbrances
againstsuchtitleofownershiporrights,orifheperformsanyactwhichinvolvestheconferringofthevotingrightsor
othershareholdersrightsuponotherpersons,theConcessionaireshallbeinformedofsuchfactsimmediately.After
makingsuchrecordsontoitsshareregisterorcompletingtheequivalentprocedures,theConcessionaireshallinform
theGamblingInspectionandCoordinationBureauwithin30daysthereof,andshallsubmitcopiesofdocuments
whichmakesuchlegalactscomplywiththestandard,andshallprovidedetailedinformationonanyotherprovisions
andconditionsstipulated.
5.
TheConcessionaireshallalsotakemeasurestoprocuretheauthorizationoftheGovernmentonthefollowingacts:
Thelivingtransfer(inwhatsoevername)ofthetitleofownershipofthecompanycapitalcontributionofthenatural
personorbodycorporateofthecompanycapitalcontributionofshareswhichshowthecompanycapitalofthe
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Concessionaire'sshareholdersorotherrightsofsuchcompanycapitalcontribution,thelivingtransfer(inwhatsoever
name)ofthetitleofownershipofthecompanycapitalofthenaturalpersonorbodycorporateoftheaforesaid
companycapitalcontributionofthebodycorporate,andsoforthallthewayuptothelivingtransfer(inwhatsoever
name)ofthecompanycapitalofthenaturalpersonorbodycorporateoftheultimateholderofthecompanycapital
contributionnevertheless,suchtransfersshallbelimitedtothedirectorindirectcompanycapitalcontributionof5%
orover5%oftheConcessionaire.Inthecaseofbodiescorporateswhichareauthorizedtobelistedinthesecurities
exchange,whosesharesthataretradedinthesecuritiesexchangeshallbeexemptedfromsuchrestrictions.
6.
WhentheConcessionaireisawareofthefollowingacts,itshallinformtheGovernmentimmediately:thepostmortal
transferofthetitleofownershipofthecompanycapitalcontributionof5%orover5%ofthenaturalpersonorbody
corporateofthecompanycapitalcontributionrepresentingtheholdingofthecompanycapitalofthe
Concessionaire'sshareholders,or(thepostmortaltransferof)otherrightsofsuchcompanycapitalcontributionthe
postmortaltransferof5%orover5%ofthecompanycapitalcontributionofthenaturalpersonorbodycorporateof
thecompanycapitalcontributionoftheaforesaidbodycorporateandsoforthallthewayuptothepostmortal
transferofthecompanycapitalofthenaturalpersonorbodycorporateoftheultimateholderofthecompanycapital
contribution.
7.
WhentheConcessionaireisawareofthefollowingacts,itshallinformtheGovernmentassoonaspossible:the
settingupofencumbrances(inwhatsoevername)againstthecompanycapitalcontributionwhichsignifiesthe
companycapitaloftheConcessionaireshareholdersthesettingupofencumbrances(inwhatsoevername)againstthe
companycapitalcontributionofthecompanycapitalcontributionoftheaforesaidshareholders,andsoforthallthe
wayuptothesettingupofencumbrances(inwhatsoevername)againstthecompanycapitalcontributionofthe
companycapitalcontributionoftheultimateholder.Nevertheless,itshallbeindirectlylimitedtobecorresponding
tojust5%orover5%ofthecompanycapitalcontributionoftheConcessionaire'sthecompanycapital.Ifitis
companycapitalcontributionofthecompanycapitalofbodiescorporateswhichareauthorizedtobelistedinthe
securitiesexchange,whosesharesthataretradedinthesecuritiesexchangeshallbeexemptedfromsuchrestrictions.
8
8.
Theprovisionsoftheprecedingclauseshallalsoapplytothoseconditionsinwhichtheperformingofanyact
involvestheconferringofthevotingrightsorothershareholdersrightsuponanypersonotherthantheoriginal
holderofsuchrights.Inthecaseofbodiescorporateswhichareauthorizedtobelistedinthesecuritiesexchange,
whosesharesthataretradedinthesecuritiesexchangeshallbeexemptedfromsuchrestrictions.
9.
Afterpropercoordinations,theprovisionsofClause4shallbeapplicabletothoseactsoftransfer(inwhatsoever
names)ofthetitleofownershipofthecompanycapitalcontributionreferredtoinClause5orotherrightsofsuch
companycapitalcontribution.
10.
IfoneofthecontrollingshareholdersoftheConcessionaireistheconcessionaireofcasinogamingsorhasbeen
grantedalicensetooperatecasinogaminginanotherjurisdiction,oritisacontrollingshareholderofthe
concessionaireforoperatingcasinogamingsoritisacontrollingshareholderofacompanywhichhasbeengranteda
licensetooperatecasinogaminginanotherjurisdiction,whenitdoesnotdesiretocontinuetobeashareholderofthe
Concessionaireduetoitsreceiptofthewritteninstructionthatitcannotcontinuetobeashareholderofthe
Concessionaireissuedbytheauthoritieswhichoverseetheoperationalactivitiesofcasinogamingsorotherformsof
gaminginthatjurisdiction,iftheGovernmentconsidersthatthesaidwritteninstructionisnotattributabletotheacts
oftheConcessionaireorsuchcontrollingshareholder,thenthatcontrollingshareholdershallbeauthorizedtotransfer
itscapitalcontributionintheConcessionairewhichheholds.However,ifthecapitalcontributionofsuchcompanies
isacquiredbyathirdparty,itshallstillbesubjecttotheGovernment'sapproval.
Article17
IssuanceofBonds
TheissuanceofbondsbytheConcessionaireshallbesubjecttotheGovernment'sapproval.
Article18
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ListinginaSecuritiesExchange
1.
TheConcessionaireoracompanywhosecontrollingshareholderistheConcessionaireshallnotbelistedina
securitiesexchangeunlessotherwiseapprovedbytheGovernment.
2.
TheConcessionaireshallalsohavetheobligationtotakemeasuressothatthebodycorporate,whichisacontrolling
shareholderoftheConcessionaireandwhoseprimarybusinessistodirectlyorindirectlyimplementtheprojects
statedintheInvestmentPlanattachedtothisConcessionContract,willnot,withoutgivingadvancenoticetothe
Government,applyforlistinginasecuritiesexchangeorperformanyactsaimingatbeingallowedtobelistedina
securitiesexchange.
3.
TheapplicationforconsentmentionedinClause1andtheadvancenoticementionedintheprecedingclauseshallbe
madeorgivenbytheConcessionaireandshallbeattachedwithalltherequireddocumentsandshallnotobstructthe
Governmentfromrequestingthefurnishingofadditionaldocuments,materials,orinformation.
Article19
StructureofShareholdersandStructureofCorporateCapital
1.
InDecemberofeachyear,theConcessionaireshallsubmittotheGovernmentsuchdocumentswhichsetforththe
structureoftheConcessionaire'sshareholders,thecompanycapitalstructureofthebodycorporate,especiallya
company,whichholds5%orover5%ofthecompanycapitaloftheConcessionaire,aswellasthestructureofthe
companycapitalofthebodycorporatewhichholds5%orover5%ofthecompanycapitalofsuchbodycorporate,
andsoforthallthewayup
9
tothestructureofthecompanycapitalofthenaturalpersonandbodycorporatewhoaretheultimateshareholders.
Nevertheless,inthecaseofbodies,corporateswhichare,authorizedtobelistedinthesecuritiesexchange,whose
sharesthataretradedinthesecuritiesexchangeshallbeexemptedfromsuchrestrictions.Alternatively,astatementof
declarationevidencingthatsuchshareholderstructureandcompanycapitalstructurehavenotundergoneanychange
shallbesubmitted.
2.
TheConcessionaireshallalsotakemeasuressoastoobtainstatementsofdeclarationwhichhavebeenproperly
certifiedandwhichhavebeensignedbyeveryshareholderoftheConcessionaireandthepersonsmentionedinthe
precedingclause.Thecontentofsuchdeclarationsshallbe:theycertifythattheypersonallyowntheamountof
companycapitalcontributionasdeclaredandthatsuchcompanycapitalisnameregistered,andcopiesofevidences
showingsuchcompanycapitalcontributionshallalsobeattachedtheretoandsubmittedtogetherwhensubmitting
themostuptodateinformationorstatementsofdeclarationreferredtointheprecedingclause.
Article20
ProhibitionsonHoldingConcurrentPositionsintheCompanyOrganisation
1.
TheConcessionaireshallhavetheobligationofnotappointingindividualswhoholdpositionsinanother
concessionaireintheMacaoSpecialAdministrativeRegion,inatransfereeofaconcession,orinacompany
organisationofthemanagementcompanyofaconcessionaireoperatingintheMacaoSpecialAdministrativeRegion,
orinamanagementcompanyhavingtodowiththeoperationsofcasinogamingsorotherformsofgaming
operations,toholdpositionsinitsBoardofDirectors,PresidencyoftheShareholdersMeeting,BoardofSupervisors
orothercompanyorganisations.
2.
TheConcessionaireshallinformtheGovernmentassoonaspossibleofsuchafactwheneveranyoneisappointedto
holdpositioninitsBoardofDirectors,PresidencyoftheShareholdersMeeting,BoardofSupervisorsorother
companyorganisations.
3.
TheGovernmentshallinformtheConcessionaireofthefactsrelatingtotheappointmentofanyonetoholdposition
intheBoardofDirectors,PresidencyoftheShareholdersMeeting,BoardofSupervisorsorothercompany
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organisationsofotherConcessionairesoperatingintheMacaoSpecialAdministrativeRegion,transfereesofsuch
concessions,ormanagementcompanieshavingtodowiththeoperationsofcasinogamingsorotherformsofgaming
operationsintheMacaoSpecialAdministrativeRegion.
Article21
Management
1.
TheConcessionaire'sdelegationofmanagementauthority,includingtheappointmentofthemanagingdirector,the
scopeofpowerofthemanagingdirector,termofauthorizationandanychangestothesaidactsofauthorization,
especiallythechangesinvolvingthetemporarysubstitutionordefinitivereplacementofthemanagingdirector,shall
besubjecttotheGovernment'sapproval.Therefore,theConcessionaireshallsubmittotheGovernmentadraftofthe
resolutionsoftheBoardofDirectorsoftheConcessionaire,inwhichtheproposaloftheConcessionaire'sdelegation
ofmanagementauthorityshallbestated,includingtheidentityandparticularsofthemanagingdirector,thescopeof
powerofmanagingdirectors,termofauthorization,andexpositionsonthesubstitutionoftheappointmentofa
managingdirectorduetohislackofabilitytoattendtohisdutiesforanyreason,aswellasanyresolutiononwhether
thesubstitutionappointmentofthemanagingdirectorisatemporarysubstitutionorpermanentreplacement.Before
theGovernmentgivesitsapprovalinrespectofallthecontentsofthe
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delegationofmanagementauthority,theConcessionaire'sdelegationofmanagementauthorityshallnottakeany
effect.
2.
IftheGovernmentdoesnotapprovethecontentofoneormoreitemsofthedelegationofauthoritymentionedinthe
precedingclause,theConcessionairemust,within15daysofthereceiptofthenoticeconcerningtheGovernment's
disapproval,submitanewdraftoftheresolutionstotheGovernment.Ifitisthecasethatthedesignatedcandidateis
notaccepted,theConcessionaireshallalsosubmittheformstatedinAppendixIIoftheAdministrativeRegulation
No.26/2001whichhasbeenproperlyfilledinbythenewlydesignatedmanagingdirector.
3.
UnlessotherwiseapprovedbytheGovernment,theConcessionaireshallhavetheobligationnottomakeany
appointmentorauthorization,soastodelegateonafoundationofstablerelationshipthepowerswhicharewithinthe
limitofauthorityoftheBoardofDirectorsandwhicharelegalactsenteredintointhenameoftheConcessionaire
andwhicharerelatedtotheoperatingenterprise.Nevertheless,thepowerstoperformactswhicharesolelyofthe
natureofregularaffairs,especiallythepowerstoperformsuchactsinpublicauthoritiesorpublicorganisations,shall
beexemptedfromtheselimitations.
Article22
ArticlesofAssociationandProspectiveCompanyAgreement
1.
AnyamendmentstotheConcessionaire'sArticlesofAssociationshallbesubjecttotheGovernment'sapproval.
2.
ThedraftoftheamendmentstotheConcessionaire'sArticlesofAssociationshallbesubmittedtotheGovernmentfor
reviewandapprovalatleast30dayspriortothedateonwhichtheshareholdersmeetingfordeliberatingsuch
amendmentsistobeconvened.
3.
Within30daysfromsigningthedocumentswhichserveastheevidenceofanyamendmentstotheArticlesof
Association,theConcessionaireshallsubmitcopiesofthecertifieddocumentstotheGovernment.
4.
TheConcessionaireshallinformtheGovernmentofanyprospectivecompanyagreementwhichitisawareof.
Therefore,inadditiontoothermeasureswhichmaybetakenorshallbetaken,theConcessionaireshallalso,within
15dayspriortotheconventionofanyshareholdersmeeting,(orinthecaseofashareholdersmeetingwhichisheld
beforeitiscalledfor,thenduringtheproceedingsofsuchshareholdersmeeting),enquirewiththeshareholderstosee
ifthereisanyprospectivecompanyagreement,especiallyprospectivecompanyagreementswhicharerelatedtothe
exerciseofvotingrightsorothershareholder'srights,andtheGovernmentshallbeinformedoftheresultsofthe
aforesaidmeasuresthathavebeentaken.
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5.
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Fortheapplicabilityoftheprovisionsoftheprecedingclause,theConcessionaireshall,atanintervalofevery
6months,enquirewiththeshareholdersholding5%orover5%oftheConcessionaire'scompanycapital,the
Concessionaire'sdirectors,andkeyemployeesholdingprominentpositionsatthecasinostoseewhethertheyare
awareofanyfactwhichmaybeofsignificancetotheConcessionaire'sortotheirproperqualifications.Moreover,that
shallnotobstructtheConcessionairefrominformingtheGovernmentassoonaspossiblewhentheConcessionaireis
awareofanysignificantfacts.
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Article23
ObligationtoProvideInformation
1.
Inadditiontothoseotherobligationsofprovidinginformationasstipulatedbytheconcessionarysystemstatedin
Article6,theConcessionaireshallalsohavethefollowingobligations:
(1)
InformtheGovernmentofanysituationwhichmayaffectthenormaloperationoftheConcessionaireassoon
aspossible,suchas:situationsconcerningtheConcessionaire'sabilitytosatisfypaymentortheabilityof
repaymentanylegalproceedingswhicharecommencedagainsttheConcessionaire,anyofitsdirectors,any
shareholderholding5%orover5%ofitscompanycapitaloranyofitskeyemployeesholdingaprominent
positionatthecasinosanyactorfactwhichtakesplaceatitscasinosandothergamingzonesandwhich
constitutesanoffenceorillegaladministrativeactandknownbytheConcessionaireanyhostileactagainst
theConcessionaireorapositionholderofitscompanyorganisationtakenbyanypositionholderorofficerof
anyorganisationofthepublicadministrationauthorities,includingtheofficersofthesecurityforcesandlaw
andorderdepartmentintheMacaoSpecialAdministrativeRegion
(2)
InformtheGovernmentofthefollowingeventsassoonaspossible:allincidentsthatmayaffectorobstructthe
timelyandcompleteperformanceofanyoftheobligationsarisingfromthisConcessionContract,allincidents
thatmayconstituteaheavyburdenorgreatdifficultyinthetimelyandcompleteperformanceofsuch
obligations,orallincidentsthatmayconstituteareasonforrevokingtheconcessionpursuanttothe
provisionsofChapter19
(3)
InformtheGovernmentofanyofthefollowingfactsormattersassoonaspossible:
(4)
(i)
Fixedorincidental,regularorspecialrenumerationreceivedbythedirectorsoftheConcessionaire,
financersofthecompany,andkeyemployeesholdingprominentpositionsinthecasinosintheformof
salary,income,wages,servicecharge,oranyotherdescriptionaswellasthemechanism,ifany,ofthe
sharingofprofitsoftheConcessionairebytheaforesaidentities
(ii)
Currentlyexistingwelfareorwelfaretobeestablished,includingthewayprofitsaredistributed
(iii)
Managementcontractsandcontractsforprovidingservicesthatcurrentlyexistorsuggestedbythe
Concessionaire.
SubmitcertifiedcopiesofthefollowingdocumentstotheGovernmentassoonaspossible:
(i)
Contractsorotherdocumentswhichserveasthedocumentaryevidenceshowinganyofthe
renumerationordescribesuchrenumerationstatedintheprecedingitem(1)or
(ii)
Contractsorotherdocumentswhichserveasthedocumentaryevidenceshowinganyofthecurrently
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existingwelfareorwhichdescribesuchwelfareormannertobeestablishedorthewayprofitsare
distributed
(iii)
(5)
Managementcontractsandcontractsforprovidingservicesthatcurrentlyexistorsuggestedbythe
Concessionaire.
InformtheGovernmentassoonaspossibleofanyimminentorforeseeablematerialchangestotheeconomic
andfinancialstatusoftheConcessionaireandanyofthefollowingentities:
(i)
ControllingshareholdersoftheConcessionaire
(ii)
EntitiescloselyassociatedwiththeConcessionaire,especiallythoseentitieswhichundertakeor
guaranteetoprovidefinancingfortheinvestmentstobelaunchedbyor
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obligationstobetakenupbytheConcessionairepursuanttotheprovisionsofthisContract
(iii)
2.
PursuanttotheprovisionsofItem(2)ofClause1ofArticle18ofLawNo.16/2001,shareholders
holding5%orover5%ofthecompanycapitaloftheConcessionairewhoundertakeorguaranteeto
providefinancingfortheinvestmentstobelaunchedbyorobligationstobetakenupbythe
ConcessionairepursuanttotheprovisionsoftheContract
(6)
InformtheGovernmentassoonaspossibleofthefactthattheaverageannualturnoverbetweenthe
Concessionaireandathirdpartyhasalreadyreachedtwohundredandfiftymillionpatacasorovertwo
hundredandfiftymillionpatacas
(7)
SubmitdocumentswhichcontainallthebankledgersandbalancesoftheConcessionairetotheGambling
InspectionandCoordinationBureauinJanuaryofeachyear
(8)
ProvidesupplementaryoradditionalmaterialsrequestedbytheGovernmentassoonaspossible
(9)
ProvideinformationandmaterialstotheGamblingInspectionandCoordinationBureauandtheFinance
ServicesBureauwhicharerequiredforthesmoothdischargeoftheirownduties.
TheGovernmentmaystipulatethattheobligationsstatedinitems(3)and(4)intheprecedingclauseshallbe
performedonceeveryyear.
Chapter4
ManagementCompany
Article24
ObligationtoGiveAdvanceNoticeandGovernment'sApproval
1.
TheConcessionaireshallgivetheGovernmentatleast90dayadvancenoticeofitsintenttoenterintoacontractwith
amanagementcompany.
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2.
WhentheConcessionaireintendstoenterintoacontractwiththemanagementcompanywhichwillenablethe
managementcompanytopossessthepowertomanagetheConcessionaire,itshallmakearequesttotheGovernment
forapproval.
3.
Fortheapplicabilityoftheprovisionsoftheprecedingclause,certifiedcopiesoftheArticlesofAssociationofthe
managementcompanyorequivalentdocumentsandthedraftofthesaidmanagementcontractshallbesubmittedby
theConcessionairetogetherwiththeapplicationrequestingsuchapproval.
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Chapter5
ProperQualifications
Article25
ProperQualificationsoftheConcessionaire
1.
TheConcessionaireshallmaintainitsproperqualificationsduringtheconcessiontermpursuanttotheprovisionsof
thelaw.
2.
Fortheapplicabilityoftheprovisionsoftheprecedingclause,theConcessionaireshallsubmittotheongoingand
longterminspectionandmonitoringoftheGovernmentaccordingtolaw.
3.
TheConcessionaireshallpaythefeesforverifyingwhetheritpossessestheproperqualificationsassoonaspossible.
Therefore,theGamblingInspectionandCoordinationBureaushallissueadocumentlistingthesaidfeeswhichshall
becometheconclusiveevidenceofsuchfees.
Article26
ProperQualificationsoftheShareholders,Directors,andKeyEmployeesoftheConcessionaireandoftheManagement
Company
1.
Shareholdersholding5%orover5%oftheConcessionaire'scompanycapital,theConcessionaire'sdirectors,andkey
employeesholdingprominentpositionsatthecasinosshallmaintaintheirproperqualificationsduringtheeffective
termoftheconcessionpursuanttotheprovisionsofthelaw.
2.
Fortheapplicabilityoftheprovisionsoftheprecedingclause,theshareholdersholding5%orover5%ofthe
Concessionaire'scompanycapital,theConcessionaire'sdirectors,andkeyemployeesholdingprominentpositionsat
thecasinosshallsubmitthemselvestotheongoingandlongterminspectionandmonitoringoftheGovernment
accordingtolaw.
3.
TheConcessionaireshalltakemeasuressothattheshareholdersholding5%orover5%oftheConcessionaire's
companycapital,theConcessionaire'sdirectors,andkeyemployeesholdingprominentpositionsatthecasinos
maintainproperqualificationsduringtheeffectivetermoftheconcessionandarefullyawarethattheproper
qualificationsofsuchshareholders,directors,andkeyemployeesarereflectedintheproperqualificationsofthe
Concessionaire.
4.
TheConcessionaireshallrequiretheshareholdersholding5%orover5%oftheConcessionaire'scompanycapital,
theConcessionaire'sdirectors,andkeyemployeesholdingprominentpositionsatthecasinostoinformthe
GovernmentassoonaspossiblewhentheyareawareofanyfactwhichmaybeofsignificancetotheConcessionaire's
ortotheirproperqualifications.
5.
Fortheapplicabilityoftheprovisionsoftheprecedingclause,theConcessionaireshall,atanintervalofevery
6months,enquirewiththeshareholdersholding5%orover5%oftheConcessionaire'scompanycapital,the
Concessionaire'sdirectors,andkeyemployeesholdingprominentpositionsatthecasinostoseewhethertheyare
awareofanyfactwhichmaybeofsignificancetotheConcessionaire'sortotheirproperqualifications.Moreover,that
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shallnotobstructtheConcessionairefrominformingtheGovernmentassoonaspossiblewhentheConcessionaireis
awareofanysignificantfacts.
6.
IftheConcessionaireisawareofanyfactswhichmaybeofsignificancetotheproperqualificationsofthe
shareholdersholding5%orover5%oftheConcessionaire'scompanycapital,theConcessionaire'sdirectors,andkey
employeesholdingprominentpositionsatthecasinos,itshallinformtheGovernmentassoonaspossible.
7.
TheConcessionaireshalltakemeasuressothatthemanagementcompanywithwhomcontractsareenteredinto,
shareholdersholding5%orover5%ofthecompanycapitalofthemanagementcompany,directorsofthe
managementcompany,andkeyemployeesholdingprominentpositions
14
atthecasinoswillmaintaintheirproperqualificationsduringtheeffectivetermoftheconcession,andthattheyare
fullyawarethattheproperqualificationsofthemanagementcompanyanditsshareholders,directors,andkey
employeesarereflectedintheproperqualificationsoftheConcessionaire.
8.
TheprovisionsofClause3oftheprecedingarticleshallbeapplicabletotheproceduresfordeterminingwhether
properqualificationsarepossessedbytheshareholdersholding5%orover5%oftheConcessionaire'scompany
capital,shareholdersholding5%orover5%ofthecompanycapitalofthemanagementcompany,directorsofthe
Concessionaireandmanagementcompany,andkeyemployeesholdingprominentpositionsatthecasinos.
Article27
SpecialObligationsforCooperation
ApartfromthegeneralobligationsforcooperationstatedinArticle67,theConcessionaireshallalsohavethe
obligationstoprovidetheGovernmentimmediatelywithanydocument,materials,orinformationwhichtheGovernment
deemsnecessaryfor,determiningwhethertheConcessionairehaspossessedproperqualifications.
Article28
SpecialObligationforNotification
1.
IftheConcessionaireisawareoftheterminationofthelicenseorconcessionforoperatingcasinogamingsorother
formsofgaminginanyjurisdictionheldbyanyshareholderholding5%orover5%ofthecompanycapitalofthe
Concessionaire,itshallinformtheGovernmentassoonaspossible.
2.
IftheConcessionaireisawareofanyinvestigationsbyanorganisationoverseeingtheoperationsandactivitiesof
casinogamingsorotherformsofgaminginanotherjurisdictionwhicharecarriedoutinrespectofsomefactswhich
maycausethesaidorganisationtoimposepenalties,andsuspendorinfluenceinanymannerthelicenseor
concessionforoperatingcasinogamingsorotherformsofgamingobtainedinthatjurisdictionbyanyshareholder
holding5%orover5%ofthecompanycapitaloftheconcessionaire,itshallinformtheGovernmentassoonas
possible.
Chapter6
FinancialAbilityandFinancing
Article29
TheConcessionaire'sFinancialAbility
1.
TheConcessionaireshallmaintainitsfinancialabilitysoastooperatethebusinessinconcessionandtoperformits
obligationsinanyaspectrelatingtoitsbusinessandtolaunchinvestmentsorassumeobligationsstipulatedinthe
Contractinatimelyandcompletemannerpursuanttotheprovisionsofthis,ConcessionContract,especially
pursuanttotheprovisionsoftheInvestmentPlanattachedtothisConcessionContract.
2.
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Fortheapplicabilityoftheprovisionsoftheprecedingclause,theConcessionaireandshareholdersholding5%or
over5%ofthecompanycapitaloftheconcessionaireshallsubmittothemselvestheongoingandlongterm
inspectionandmonitoringoftheGovernmentaccordingtolaw.
3.
TheConcessionaireshallpaythefeesforverifyingwhethertheConcessionaireandshareholdersholding5%orover
5%ofthecompanycapitaloftheConcessionairepossessthefinancialability
15
assoonaspossible.Therefore,theGamblingInspectionandCoordinationBureaushallissueadocumentlistingthe
saidfeeswhichshallbecometheconclusiveevidenceofsuchfees.
Article30
ConsumerCreditandSimilarContracts
1.
TheConcessionaireshallhavetheobligationtoinformtheGovernmentofthefactsrelatingtoanyconsumercredit
whichisworthoverthirtymillionpatacasandprovidedtoathirdpartyoranysimilarcontractsenteredintowitha
thirdparty.
2.
TheConcessionaireshallhavetheobligationnottoprovideitsdirectors,shareholders,orkeyemployeesholding
prominentpositionsinthecasinoswithanyconsumercreditandnottoenterintoanysimilarcontractswiththesame,
unlessotherwiseapprovedbytheGovernment.
3.
TheConcessionaireshallhavetheobligationnottoenterintoanycontractswithbusinessenterpreneurswhichmay
enablethemtohavethepowertomanageorparticipateinthemanagementoftheConcessionaire,including"stepin
rights"contractsunlessotherwiseapprovedbytheGovernment.
Article31
BearingofRisks
1.
TheConcessionaireexpresslyindicatesthatitshallbearalltheliabilities,andshallsolelybearsuchresponsibilities,
inrespectofalltheinherentrisksandtherisksrelatedtotheConcessionaire'sfinancialabilityandfinancing
nevertheless,theapplicabilityoftheprovisionsofArticles40and75ofthisConcessionContractshallnotbe
obstructed
2.
TheConcessionLicensorshallnotbearanyobligationorassumeanyresponsibilityorriskinrespectofthefinancing
oftheConcessionaire.
Article32
ObtainingFinancing
1.
TheConcessionaireshallobtaintherequiredfinancingsoastoperformitsobligationsinanyaspectrelatingtoits
businessandtolaunchinvestmentsorassumeobligationsstipulatedinthisContractinatimelyandcompletemanner
pursuanttotheprovisionsofthisConcessionContract,especiallypursuanttotheprovisionsoftheInvestmentPlan
attachedtothisConcessionContract.
2.
Anycontestordefensemethodarisingfromtheestablishmentofacontractualrelationshipbetweenthe
Concessionaireandathirdparty,includingtheentityprovidingthefinancingandtheConcessionaire'sshareholders,
fortheobtainingofthefinancingmentionedintheprecedingclause,shallnotbeusedagainsttheConcession
Licensor.
Article33
StatutoryReserve
TheConcessionaireshallmaintainareserveasrequiredbylaw.
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Article34
SpecialObligationsforCooperation
1.
ApartfromthegeneralobligationsforcooperationstatedinArticle67,theConcessionaireshallalsohavethe
obligationtoprovidetheGovernmentimmediatelywithanydocument,materials,orinformationwhichthe
GovernmentdeemsnecessaryfordeterminingwhethertheConcessionairehasmaintaineditsproperfinancialability.
16
2.
IfthevalueinvolvedisequivalenttoorovereightmillionPatacas,theConcessionaireshallinformtheGovernment
assoonaspossibleofanysuchconsumercredit,pledge,announcementofliabilities,guarantee,oranyother
liabilitiesassumedortobeassumedinordertosecuretheprovisionoffinancingfortheConcessionaire'sbusinessin
whatsoeveraspect.
3.
TheConcessionaireshallsubmittotheGovernmentassoonaspossiblecertifiedcopiesofthosedocumentsrelating
toanyconsumercredit,pledge,announcementofliabilities,guarantee,oranyotherliabilitiesassumedortobe
assumedinordertosecuretheprovisionoffinancingfortheConcessionaire'sbusinessinwhatsoeveraspect.
4.
TheConcessionaireshalltakemeasuressoastoobtainandtosubmittotheGovernmentastatementofdeclaration
signedbyeverycontrollingshareholderoftheConcessionaire,includingtheultimatecontrollingshareholders,
whosecontentistheyagreetobeboundbytheaforesaidspecialobligationsforcooperation.Therefore,attherequest
oftheGovernment,theyshallprovideallthedocuments,materials,informationorevidence,andshallgiveany
permission.
Chapter7
InvestmentPlan
Article35
InvestmentPlan
1.
TheConcessionaireshallimplementtheInvestmentPlanasprovidedintheInvestmentPlanattachedtothis
ConcessionContract.
2.
TheConcessionaireshallhavethefollowingobligations,particularlyto:
(1)
usethelaborforceofqualityinalltheprojects
(2)
whenanyenterpriseistobeengagedoranyworkeristobeemployedintheimplementationofanyproject
statedintheInvestmentPlanattachedhereto,anenterprisewhichhasbeenengagedinbusinessintheMacao
SpecialAdministrativeRegionforalongtimeoralocalenterpriseoraworkerintheMacaoSpecial
AdministrativeRegionshallbeengagedoremployedinpriority
(3)
intheformulationofanyengineeringprojectsinrelationtoanyprojectstatedintheInvestmentPlanattached
hereto,observethecurrenttechnicalspecificationsandtechnicalregulationsoftheMacaoSpecial
AdministrativeRegion,especiallythe"TechnicalRegulationsonLandWork"approvedbyDecree
No.47/96/Mon26thAugustandthe"RegulationsonSafetyandLoadsofBuildingStructureandBridge
Structure"approvedbyDecreeNo.56/96/Mon16thSeptemberandanyinstructionsandapprovaldocument
ofanygovernmentagencyandanyinstructionsoftheproduceroranyentitywhoisprovidedwithanypatent
right
(4)
inthesubmissionofanyprojectstatedintheInvestmentPlanattachedheretototheLands,PublicWorksand
TransportBureauforitsapproval,theConcessionaireshallsubmitaqualitycontrolmanualapprovedbythe
Lands,PublicWorksandTransportBureauanddevelopedbyanentitywhichistechnicallyqualifiedbythe
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Bureauandwhichcandemonstrateitsexperienceinthesameandsimilarwork,aworkingplanandthe
relevantbooksoforiginalentryinfinanceandwork,samplesofimportantmaterialsandthecurriculumvitae
ofthepersoninchargeofeachconstructiondisciplineinadditiontotheotherdocumentsstipulatedinthe
currentlawsandregulations,especiallyDecreeNo.79/85/Mdated21stAugust.Ifnoqualitycontrolmanualis
submittedorthequalitycontrolmanualsubmittedisnotapproved,theConcessionaireshallobservethe
qualitycontrolmanualdevelopedbysuchaprofessionalentityasspecifiedbytheLands,PublicWorksand
TransportBureauatthattime
17
(5)
strictlyimplementtheapprovedprojectinaccordancewiththeprovisionsofthecurrentlawsandregulations
andtheinternationallyrecognizedstandardsandindustryregulationsforthesimilarprojectorsupply
(6)
meetthedeadlinefortheconstructionoftheprojectstatedintheInvestmentPlanattachedheretoandthe
deadlineforopeningtheprojecttothepublic
(7)
usethematerials,systemsandequipmentofhighquality,whicharecertifiedandapproved,consistentwith
internationalstandardsandaregenerallyrecognizedbytheinternationalcommunity,intheimplementation
oftheprojectstatedintheInvestmentPlanattachedhereto
(8)
maintainthequalityofalltheprojectsstatedintheInvestmentPlanattachedheretoinaccordancewithhigh
internationalqualitystandards
(9)
ensurethatthebusinesspremisesinthefacilitiesmeethighinternationalqualitystandards
(10)
maintainmodernized,highlyefficientandhighqualitymanagementinaccordancewithhighinternational
qualitystandardsand
(11)
informtheGovernmentofalltherelevantsituationassoonaspossiblebymeansofareportelaboratingonthe
situationandexplainingitsreasonwhenanysituationwhichhasresultedinormayresultinanymaterial
changetothenormalprogressoftheworkintheconstructionstageoftheConcessionaire'sfacilitiesorinthe
operationstageoftheConcessionaire'sbusinessinanyrespectorwhenanystructuralabnormalityorother
abnormalityoccursintheConcessionaire'sfacilities,thereportshallindicatetheassistance(ifany)provided
byanentitywhichiswidelyrecognizedtobequalifiedandreputedoutsidetheConcessionaireandindicate
themeasuresadoptedortobeadoptedforthesolutionofsuchproblems.
3.
TheConcessionaireshallberesponsibletotheConcessionLicensororathirdpartyforanydamagewhichis
attributabletotheinadequacy,errororgrossnegligenceoftheConcessionaireinthedesignandscopeoftheproject,
theimplementationofthebuildingworksandthemaintenanceofthebuildingswithintheInvestmentPlan,attached
hereto.
4.
TheGovernmentmayauthorizeachangetobemadetothetimelimitmentionedinItem(6)ofClause2without
havingtoamendthisConcessionContract.
5.
TheGovernmentundertakestoenabletheConcessionairetobeabletodirectlyorindirectlyasprovidedbylaw
implementtheprojectsstatedintheInvestmentPlanattachedtothisConcessionContract.
Article36
ModificationofAnyProjectListedintheInvestmentPlan
1.
IntheexecutionoftheInvestmentPlanattachedhereto,theGovernmentmayrequirethefurnishingofanydocument
orenforceanymodificationinrelationtotheimplementationofanyprojectlistedintheInvestmentPlaninorderto
ensurethecompliancewiththecurrenttechnicalspecificationsandtechnicalregulationsandensuretheattainmentof
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therequiredqualitystandards.
2.
TheGovernmentshallnotenforceanymodificationofthesaidprojecttosuchanextentastoincreasethetotal
amountstatedinArticle39.
18
Article37
Supervision
1.
TheGovernmentshall,especiallythroughtheLands,PublicWorksandTransportBureau,followupandsupervisethe
implementationoftheproject,especiallytheexecutionoftheworkingplanandthequalityofthematerials,systems
andequipmentinaccordancewiththecontentsintheInvestmentPlanattachedheretoandonthebasisofthe
provisionsofapplicablelawsandregulations.
2.
TheLands,PublicWorksandTransportBureaushallinformtheConcessionaireoftheBureau'srepresentative
designatedforthefollowupandsupervisionoftheimplementationoftheproject.Ifmorethanonerepresentativeis
inchargeofthefollowupandsupervisionoftheimplementationoftheproject,oneofthemshallbeassignedasthe
chief.
3.
FortheapplicabilityoftheprovisionsinClause1,theConcessionaireshallsubmitadetailedreportofthe
implementationprogressinwritingeachmonth,whichisexhibitedintheInvestmentPlanattachedtothis
ConcessionContractthemonthly.reportshallatleaststatethe:
(1)
majorevents,numberofworkers,quantitiesofmaterials,systemsandequipment
(2)
progressoftheworkingplan(progresscontrol)
(3)
latestinformationonbooksoforiginalentryinfinanceandwork
(4)
project,supply,methodstobeadoptedandthedemandsformaterials,systemsandequipment
(5)
majormeasurestakentoensuretheexecutionoftheworkingplan
(6)
worktobelaunchedinordertocorrectanydeviation
4.
TheConcessionaireshallsubmitadditionaldetailedreportsinwritingifnecessary,especiallywhenthenormal
workingprogressintheexecutionoftheInvestmentPlanattachedtothisConcessionContractisaffected.
5.
IfsorequestedbytheGovernment,theConcessionaireshallsubmitanydocumentwithinthespecifiedperiod,
especiallythetextualandgraphicalinformationontheInvestmentPlanattachedtothisConcessionContract.
6.
TheConcessionaireshallalsoprovideallsuchdescriptionsandinformationasrequiredtosupplementthedocuments
statedintheprecedingclause.
7.
Ifthereisanydoubtaboutthequalityofthework,theGovernmentmayprocuretheenforcementofanytestother
thanthetestplannedbytheConcessionaireandifnecessary,seekopinionsfromtheConcessionaireaboutthe
decisionmakingrulesadoptedinthetest.
8.
Theexpensesrequiredfortheteststatedintheprecedingclauseandtomakegoodthedefectsfoundshallbeborneby
theConcessionaire.
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9.
Anyorder,announcementornoticeinrelationtothetechnicalaspectoftheimplementationoftheprojectshallbe
givenbytheGovernmenttothetechnicalofficeroftheproject,especiallydirectlythroughtheLands,PublicWorks
andTransportBureau.
10.
Thetechnicalofficeroftheprojectshallbedevotedtofollowinguptherelevantworkandshallarriveatthe
constructionsitewhensocalledupon.
11.
Iftheimplementationoftheprojectisfoundtobeinconsistentwiththeapprovedprojectorinviolationofthe
provisionsofanylaw,regulationorthecontract,theGovernmentmay,especially
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throughtheLands,PublicWorksandTransportBureau,suspendandputabanontheimplementationoftheproject.
12.
ThepowerofthesupervisionontheperformanceoftheobligationsunderthisConcessionContractshallnotresultin
anyresponsibilityonthepartoftheConcessionLicensorfortheimplementationofthebuildingprojectthe
Concessionaireshallsolelybeheldresponsibleforanythingimperfectoranydefectinthedesign,implementationor
operationoftheproject,unlessthesameiscausedbythedecisionoftheConcessionLicensor.
Article38
ContractingandSubcontracting
Athirdparty'scontractingorsubcontractingshallnotrelievetheConcessionaireofanystatutoryobligationsor
contractualobligationshereunder.
Article39
AppropriationoftheBalanceoftheInvestmentintheInvestmentPlan
AfterthecompletionoftheprojectstatedintheInvestmentPlanattachedtothisConcessionContract,the
Concessionaireshalluseanybalanceintheprojectsinrelationtoitsbusiness,whichisspecifiedbyitselfandacceptedby
theGovernment,orinaprojectspecifiedbytheGovernment,whichisofmaterialpublicinteresttotheMacaoSpecial
AdministrativeRegionifthetotalexpensesdirectlyorindirectlyincurredbytheConcessionairearelowerthanthe
budgetaryinvestmentofFourBillionPatacasasreflectedinthesaidinvestmentplanandinthetendersubmittedbythe
Concessionaireinitscapacityasabidderforthefirstprocessofopenandpublictendersforthe(3)concessionlicensesfor
operatingcasinogamingsorotherformsofgaming.
Article40
Insurance
1.
TheConcessionaireshallenterintoandmaintaininsurancecontractstoberenewedinordertoensuretheeffective
andcompleteprotectionagainsttheinherentrisksinthedevelopmentofthebusinesscoveredintheconcession.Such
insuranceshallbetakenoutwiththeinsurancecompaniesauthorizedtooperateintheMacaoSpecialAdministrative
Regionifitisnotfeasibletotakeoutinsurancewithsuchinsurancecompaniesoranexcessiveburdenmaybe
imposedontheConcessionaire,theinsurancemaybetakenoutwithaninsurancecompanyoutsideMacaosubjectto
theconsentoftheGovernment.
2.
TheConcessionaireshallespeciallyensuretheconclusionoftheyfollowinginsurancecontractsandmaintaintheir
validity:
(1)
toinsuretheConcessionaire'sworkingpersonnelagainstsuchrisksasaccidentsatworkandoccupational
diseases
(2)
toinsurethevehiclesownedbytheConcessionaireagainstsuchrisksascivilliabilities
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(3)
toinsurethevessels,aircraftorotherairvehiclesownedbytheConcessionaireorcharteredbythe
Concessionairebymeansofthefinancialleasingsystemagainstriskssuchascivilliabilities
(4)
toinsureinstalledpublicitymaterialsagainstriskssuchascivilliabilities
(5)
totakeoutgeneralcivilliabilityinsuranceagainsttherisksrelatedtotheoperationofcasinogamingsorother
formsofgamingintheMacaoSpecialAdministrativeRegion,thedevelopmentoftheotherbusinessin
concession,whicharenotinsuredagainstbymeansofanyotherinsurancecontract
20
3.
4.
(6)
toinsurebuildings,furniture,equipmentandotherpropertiescoveredinthebusinessinconcessionagainst
risksofdamage
(7)
totakeoutbuildinginsurance(againstallrisks,includingcivilliabilityinsurance)foranyprojectofthe
buildingsoranyworkstobecarriedoutwithinthebuildingsinrelationtothebusinesscoveredinthe
concession.
TheprotectionbymeansoftheinsurancestatedinItem(6)oftheprecedingclauseshallbeallrisksinsurancewhich
shallatleastcoverthefollowingitems:
(1)
fire,thunderandlightningorexplosion(inwhatsoevernature)
(2)
pipeburstingleakageorspillageofreservoir,boiler,pipeline,undergroundreservoir,lavatorybasinorany
otherwaterconveyance
(3)
flood,typhoon,tropicalstorm,volcanoeruption,earthquakeorothernaturaldisaster
(4)
aircraftoranyotherairvehicle,fallofaircraftoranyotherairvehicleorfallorcollisionofarticlesjettisoned
(5)
vehiclecollision
(6)
theftorrobbery
(7)
strike,attack,riot,disturbanceofpublicorderoranyotherfactinsimilarnature.
TheinsuranceamountorminimuminsuranceamountofthoseinsureditemsstatedinClause2shallbeasfollows:
(1)
theinsuredamountstatedinItems(1)to(4)shallbehandledpursuanttotheprovisionsofthecurrentlawsand
regulations
(2)
theinsuredamountstatedinItem(5)shallbedeterminedbytheGovernmentaftertheconsiderationofthe
turnoverofthebusinessinconcession,riskoccurrenceindexintheprecedingyearandotherparameters
(3)
theinsuredamountstatedinItem(6)shallbeequaltothenetvalueofthe,propertydesignated,whichmeans
thegrossvaluelesstheaccumulateddepreciation
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(4)
theinsuredamountstatedinItem(7)shallbethetotalvalueoftheproject.
5.
TheConcessionaireshallalsoensurethattheentitywhichhasenteredintocontractswithitshallhavetakenout
effectiveinsuranceagainstaccidentsatworkandoccupationaldiseases.
6.
TheConcessionaireshallprovetotheGovernmentthatalltheinsurancecontractsenteredintoarecompletely
effective.CopiesoftheinsurancecontractsshallbesubmittedtotheGovernmentatthetimeofsigningandrenewal
ofsuchinsurancecontracts.
7.
BeforethecopiesstatedintheprecedingclausearesubmittedtotheGovernment,theConcessionaireshallhavethe
obligationnottolaunchanyprojectorworks.
8.
UnlessotherwiseauthorizedbytheGovernment,theConcessionaireshallnotcancel,suspend,modifyorreplaceany
insurancecontractunlesssolelyforthereplacementofinsuranceentities.Underthesecircumstances,the
ConcessionaireshallinformtheGovernmentofsuchfactsassoonaspossible.
9.
IftheConcessionairefailstopayanyinsurancepremium,theGovernmentmaycarryoutthecalculationforthe
ConcessionaireandusethesecuritydepositwhichguaranteestheConcessionaire'sperformanceofitsstatutory
obligationsorcontractualobligationshereunderforthedirectpaymentofthepremium.
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Chapter8
Property
Article41
PropertyofMacaoSpecialAdministrativeRegion
1.
TheConcessionaireshallfollowingtheinstructionoftheGamblingInspectionandCoordinationBureauensurethe
custodyorreplacementofthepropertyoftheMacaoSpecialAdministrativeRegion,whichisprovidedbythe
temporarytransferoftheenjoyment,returnandusethereofforthepurposeoftheoperationofthebusinessin
concession.
2.
TheConcessionaireshallensurethepreservationofthelandandnaturalresourcesundertheadministrationofthe
GovernmentsuchasprovidedinArticle7ofthe"BasicLawofMacaoSpecialAdministrativeRegion",whichis
providedortobeprovidedbymeansofleasingorconcessionforthepurposeoftheoperationofthebusinessin
concession.
Article42
OtherProperties
1.
Thecasinosandtheequipmentandtoolsusedforthegamingbusinessshallbelocatedwithintherealestateowned
bytheConcessionaire.Noencumbrancesshallbesetupforthecasino,suchequipmentandtoolsunlessotherwise
approvedbytheGovernment.
2.
Notwithstandingthegrantingoftheapprovalstatedintheprecedingclause,theConcessionaireshallstillfreethe
casinoandtheequipmentandtoolsusedforthegamingbusiness,includingthoseoutsidethecasino,fromany
encumbranceupontheextinguishmentoftheconcession.
3.
Thecasinoshallnotbelocatedwithintherealestatewhoseuseandreturnaresecuredbymeansofanyleasing
contractinanynatureoranycontractofanyotherkind,whichdoesnotfurnishtheConcessionairewiththecomplete
titleofownership,namelyanontypicalcontract,unlessotherwiseapprovedbytheGovernment.Particularly,itis
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acceptabletostipulateaconditioninthesaidapprovalthattheConcessionaireshallprocuretheindependentunit
wherethecasinoislocatedonehundredandeighty(180)daysbeforesuchadateasfixedinClause1ofArticle43so
astoputthecasinoundertheownershipoftheMacaoSpecialAdministrativeRegionunlesstheconcessionis
revokedbeforesuchdate,inwhicheventsuchaprocurementshallbemadeassoonaspossible.
4.
Afterproperconsenthasbeenobtained,theConcessionaireshallprovidetheGovernmentwithcopiesofthecontracts
statedintheprecedingclauseandthecopiesofallthealterationsofandamendmentstothecontractsevenifsuch
contracts,alterationsoramendmentshaveretroactiveeffects.
5.
TheConcessionaireshalllocateallofitscasinoswithinthebuildingorbuildingcomplexgovernedbythesystemof
"floorbyfloor"ownershipeventhoughthebuildingsorbuildingcomplexesconstituteaneconomicorafunctional
unitsoastomakethecasinosoneormoreindependentunitswithareaspreciselyidentifiedanddelineated.
6.
Fortheapplicabilityoftheprovisionsoftheprecedingclause,theConcessionaireshallsubmittotheGovernmentthe
certificatesoftheregistrationofthepropertygovernedbythesystemof"floorbyfloor"ownershipassoonas
possible,which,shallcontainthedescriptionsofalltheindependentunitswiththeattachmentofdrawingswithareas
determinedanddelineated.
7.
TheConcessionaireshallhaveanyamendmenttothecertificateof"floorbyfloor"ownershipregisteredandsubmit
thecertificateofthepropertyregistrationthroughtheFinanceServicesBureautotheGovernmentassoonaspossible.
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8.
TheConcessionaireshallalsosubmittheregulationsof"floorbyfloor"buildingsunderthesystemof"floorbyfloor"
ownershiptotheGovernmentforapproval.
Article43
EntitlementtoCasinosandFacilitiesandToolsUsedforGamingBusiness
1.
On26 thJune2022,theConcessionLicensorshallbeautomaticallyentitledtothecasino,thefacilitiesandthetools
usedforgamingbusinessincludingthefacilitiesandtoolsoutsidethecasinowithoutcompensationexceptwhenthe
concessionisrevokedpriortothesaiddate.Upondeliveryofsuchproperties,theConcessionaireshallassurethat
suchpropertiesarebeingkeptproperlyandingoodoperationconditionsbutexcludingthenormalwearandtear
occurringintheuseofsuchpropertiesincompliancewiththeprovisionsofthisConcessionContract.Inaddition,
suchpropertiesshallnotbesubjecttoanyencumbrance.
2.
TheConcessionaireshalldeliverimmediatelythepropertiesreferredtointhepreviousclause.
3.
IntheeventthattheConcessionairefailstodeliverthepropertiesreferredtoinClause1,theGovernmentshalltake
possessionofsuchpropertiesimmediatelybyadministrativemeansandtherelevantexpensesshallbepaidfromthe
securitydepositforwarrantingtheConcessionaire'sperformanceofitsstatutoryobligationsorcontractual
obligations.
4.
OnthedatementionedinClause1,theGovernmentshallinspectthepropertiesreferredtoinArticle41andArticle42
inordertoinspectthekeepingandmaintenanceconditionsofsuchpropertiesandshallrecordtheexaminationin
writing.Duringinspection,therepresentative(s)oftheConcessionairemayparticipateonthespot.
5.
UpondissolutionorliquidationoftheConcessionaire,ifwithoutthecertificationoftheGovernmentbymeansofthe
compulsoryliquidationprocedurereferredtointheclausehereinbelowthatthepropertiesreturnedareproperlykept
andingood,operationconditions,orincaseoffailuretoindicateitscapabilityofguaranteeingthepaymentofany
sumpayabletotheConcessionLicensorintermsofdamagesoranyotherpurposebymeansofanyguarantee
acceptablebytheGovernment,then,thepropertiesoftheConcessionaireshallnotbedivided.
6.
TheprovisionofthelastpartofClause1shallnotobstructthenormalrenewalofthefacilitiesandtoolsforthe
gamingbusiness.
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Article44
InventoryApplicabletothePropertiesoftheBusinessinConcession
1.
TheConcessionaireshallprepareaninventoryofpropertiesintriplicatecoveringthepropertiesandtherightsusedin
theconcessionbusinessandbelongingtoMacaoSpecialAdministrativeRegionandallthepropertieswhichthe
MacaoSpecialAdministrativeRegionisentitledtoandshallupdatetheinformationontheinventoryofproperties.
Forthispurpose,theConcessionaireshallupdatenolaterthan31 stMayeveryyeartherelevantstatementhaving
undergonechangesforsubmissiontotheGamblingInspectionandCoordinationBureauandtheFinanceServices
Bureaurespectively.
2.
Intheyearinwhichtheconcessiontermwillexpire,theaforesaidinventoryshallbemadesixtydayspriortothe
terminationoftheconcession.
3.
Underothercircumstancesthattheconcessionisrevoked,theinventoryreferredtoinClause1shallbeproceededat
thedateandtimesetbytheGovernment.
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Article45
Improvements
TheimprovementsmadeinanynametothepropertiesreferredtoinArticle41andattributabletotheConcession
LicensorshallnotbeendowedwiththerighttoobtainanycompensationordamagesbytheConcessionaire,andthe
Concessionaireshallnotberequiredtoremovetheimprovements.
Article46
ConcessionoftheLandUsedbytheConcessionaire
1.
Inparticular,theconcessionarysystemofthelandforusebytheConcessionaireforoperatingtheconcessionbusiness
shallbesetbytherelevantlandconcessioncontract.
2.
ThelandconcessioncontractexecutedbetweentheGovernmentandtheConcessionaireshallbeboundbythe
provisionsoftheapplicablepart(s)ofthisConcessionContract.
Chapter9
Premium
Article47
Premium
1.
Duringtheeffectivetermoftheconcession,theConcessionaireshallpayanannualpremiumtoMacaoSpecial
AdministrativeRegioninreturnfortheconcessionofoperatingthecasinogamingsorotherformsofgaming.
2.
TheamountoftheannualpremiumpayablebytheConcessionaireshallbecomposedofafixedamountanda
variableamount.
3.
PursuanttotheprovisionsoftheOrderNo.215/2001oftheChiefExecutive,thefixedamountoftheannualpremium
tobepaidbytheConcessionaireshallbeThirtyMillionPatacas.
4.
ThevariableamountoftheannualpremiumtobepaidbytheConcessionaireshallbecalculatedaccordingtothe
numberofgamingtablesandelectricalormechanicalgamingmachinesincluding"slotmachines"underthe
operationoftheConcessionaire.
5.
Fortheapplicabilityoftheprovisionsoftheprecedingclause:
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6.
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(1)
TheConcessionaireshallpayanannualamountofThreeHundredThousandPatacasfortheuseofeach
gamingtableexclusivelyassignedfortheparticulargamingorgamers,especiallyofthoseunderoperationin
thegaminghallorzones
(2)
TheConcessionaireshallpayanannualamountofOneHundredandFiftyThousandPatacasfortheuseof
eachgamingtablenotexclusivelyassignedfortheparticulargamingorgainers
(3)
TheConcessionaireshallpayanannualamountofOneThousandPatacasforeachelectricalormechanical
gamingmachineincludingthe"slotmachines"underitsoperation.
RegardlessofthenumberofgamingtablesundertheoperationoftheConcessionaireatanytime,thevariableamount
oftheannualpremiumshallnotbelowerthantheamountpayableforonehundredgamingtables,duetolongterm
operation,exclusivelyassignedfortheparticulargamingorgainers,especiallythoseunderoperationinthegaming
hallorzones,andtheamountpayableforonehundredgamingtablesunderlongtermoperationnotexclusively
assignedfortheparticulargamingorgainers.
24
7.
TheConcessionaireshallpaythefixedamountoftheannualpremiumnolaterthanthe10 thdayofJanuaryforthe
relevantyear.TheGovernmentmayalsorequirepaymentintheformofmonthlyinstallments.
8.
TheConcessionaireshallpaythevariableamountoftheannualpremiumcoveringthegamingtablesandthe
electricalormechanicalgamingmachinesincluding"slotmachines"underoperationinthepreviousmonthnolater
thanthe10 thdayofthemonthfollowingtherelevantmonth.
9.
Inordertocalculatethevariableamountoftheannualpremiumreferredtointheprecedingclause,thenumberof
daysforeachgamingtableandeachelectricalormechanicalgamingmachineincludingtheslotmachineunder
operationoftheConcessionaireintherelevantmonthshallbetakenintoconsideration.
10.
ThepaymentoftheannualpremiumshallbemadebymeansofforwardingtherelevantpaymentvouchertotheShroff
CounteroftheFinancialOfficeofMacaoSpecialAdministrativeRegion.
Chapter10
PaymentStipulatedinItem(7)andItem(8)ofArticle22ofLawNo.16/2001
Article48
PaymentstipulatedinArticle22(7)ofLawNo.16/2001
1.
TheConcessionaireshallmakeanannualpaymenttotheConcessionLicensorwhichequalsto1.6%ofthegross
gamingcasinorevenuewhichwillbegiventoagovernmentdesignatedpublicfoundationwhoseobjectisthe
promotion,development,orstudyofcultural,social,economic,educational,scientific,academic,andcharity
activities.
2.
ThepaymentmentionedintheprecedingclauseshallbepaidbytheConcessionairetotheShroffCounterofthe
DepartmentofFinanceandTaxationoftheMacaoSpecialAdministrativeRegiononamonthlybasisandpaidno
laterthanthe10thdayofthemonthfollowingtherelevantmonth.
3.
ThefundingreferredtoinClause1shallberecordedbytheConcessionLicensoraspartofitsownbudget.
Article49
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PaymentstipulatedinArticle22(8)ofLawNo.16/2001
1.
TheconcessionaireshallmakeanannualpaymenttotheConcessionLicensorwhichequalsto2.4%ofthegross
gamingcasinorevenuewhichwillbeusedforurbandevelopmentandconstruction,promotionoftourismandsocial
securityoftheMacaoSpecialAdministrativeRegion.
2.
ThepaymentmentionedintheprecedingclauseshallbepaidbytheConcessionairetotheShroffCounterofthe
DepartmentofFinanceandTaxationoftheMacaoSpecialAdministrativeRegiononamonthlybasisandpaidno
laterthanthe10thdayofthemonthfollowingtherelevantmonth.
3.
ThefundingreferredtoinClause1shallberecordedbytheConcessionLicensoraspartofitsownbudget.
4.
TheGovernmentmaydesignateoneormoreprojects,oroneormoreentitiestobethebeneficialprojectsorentitiesto
receivepartofthefundingpaid.
5.
TheGovernmentandtheConcessionairemayagreetogivethefundingtooneormoreprojectsoroneormore
entities,andtheupperlimitoftheamountofthetotalfundingshallbesetat1.2%ofthegrossincomeofthegaming
operations.Undersuchcircumstances,theConcessionairemay
25
givesuchfundingdirectly,andtheamountofthefundingpayabletotheShroffCounteroftheFinancialOfficeof
MacaoSpecialAdministrativeregionasreferredtoinClause1shallbedecreasedaccordingly.
Chapter11
ObligationsofTaxPaymentandSubmissionofDocuments
Article50
SpecialGamingTax
1.
TheConcessionaireshallpaytheMacaoSpecialAdministrativeRegionaspecialgamblingtaxrequiredbylawin
twelvemonthlyinstallmentstobepaidtotheGovernmentnolaterthanthe10thdayofthemonthfollowingthe
relevantmonth.
2.
ThepaymentofthespecialgamblingtaxshallbemadeinPatacasorcurrenciesotherthanPatacaswhichare
acceptablebytheGovernment.
3.
IfthespecialgamblingtaxispaidinPatacas,thetaxpaymentshallbemadedirecttotheTreasuryofthePublic
CurrencyBureauofMacaoSpecialAdministrativeRegion.
4.
IfthespecialgamblingtaxispaidincurrenciesotherthanPatacaswhichareacceptablebytheGovernment,the
relevantcurrenciesshallbesubmittedtotheMacaoMonetaryAuthorityforconvertingthesameintoPatacasand
subsequentdeliverytotheTreasuryofthePublicCurrencyBureauofMacaoSpecialAdministrativeRegionatits
disposal.
Article51
WithholdingPaymentforTax
1.
TheConcessionaireshall,bymeansofconfirmedwithholdingpaymentfromthecommissionorotherremuneration
forthegamingjunkettourpromoters,collectandpaytherelevantstatutorytaxes,whichshallbepaidtotheShroff
CounteroftheFinanceServicesDepartmentoftheMacaoSpecialAdministrativeRegionnolaterthanthe10 thdayof
themonthfollowingtherelevantmonth.
2.
TheConcessionaireshall,bymeansofconfirmedwithholdingpayment,collectandpaytheemploymenttaxesofthe
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employeesoftheConcessionaire.TherelevanttaxesshallbepaidtotheShroffCounteroftheFinanceServices
DepartmentoftheMacaoSpecialAdministrativeRegionpursuanttotheprovisionsofthelaw.
Article52
PaymentofOtherPayableTaxes,Duties,ExpensesandHandlingCharges
TheConcessionaireshallpaythepayableandnotexemptedtaxes,duties,expensesorhandlingchargesforpayment
pursuanttotheprovisionsofthelawofMacaoSpecialAdministrativeRegion.
Article53
DocumentCertifyingNoDebtOwedtothePublicCurrencyBureauoftheMacaoSpecialAdministrativeRegion
1.
Everyyear,theConcessionaireshallsubmittotheGovernmentnolaterthanthe31 stofMarchacertificateinrespect
oftheprevioustaxationyearissuedbytheFinancialBureaucertifyingthattheConcessionairedoesnotowethe
PublicCurrencyBureauofMacaoSpecialAdministrativeRegionanyduty,tax,penaltyorsurcharge.Theconceptof
thesurchargeincludesthecompensatoryinterest,deferredinterestandthesumamountingto3%ofthedebts.
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2.
Everyyear,theConcessionaireshall,inrespectoftheprevioustaxationyear,alsosubmittotheGovernmentnolater
thanthe31 stofMarchsuchdocumentsshowingthetaxationstatusofthemanagingdirector,thepositionholderof
thecompanyorganizationandtheshareholdersholding5%orover5%ofthecompanycapitaloftheConcessionaire.
Article54
DocumentCertifyingNoDebtOwedInRespectoftheSocialSecurityofMacaoSpecialAdministrativeRegion
Everyyear,theConcessionaireshallsubmittotheGovernmentnolaterthanthe31 stofMarchsuchdocumentsissuedby
theSocialSecurityFoundationoftheMacaoSpecialAdministrativeRegioncertifyingthattheConcessionairehascomplied
withthespecifiedstipulationsconcerningthecontributiontothesocialsecurityoftheMacaoSpecialAdministrative
Region.
Article55
SupplyofMaterials
1.
TheConcessionaireshallsubmittotheGovernmentonaquarterlybasisnolaterthanthelastdayofthemonthafter
theclosingoftherelevantquarterthetrialbalanceofthepreviousquarterforthetrialbalanceofthelastquartereach
year,itshallbesubmittednolaterthanthelastdayinFebruaryofthefollowingyear.
2.
TheConcessionaireshallalsoforwardtotheGovernmentthefollowinginformationatleast30dayspriortothedate
ofholdingthegeneralmeetingofshareholdersforpassingtheaccounts:
(1)
Alltheaccountingstatementsandstatisticsreportsofthepreviousbusinessyear
(2)
Thefullnamesofthepersoninchargeoftheaccountingdepartment,thetrusteesandthepersonshavingbeen
themembersoftheBoardofDirectorsorBoardofSupervisorsintherelevantbusinessyearandthevarious
versionswhereinsuchnamesshallbestatedandused
(3)
AreportandaccountsoftheBoardofDirectorsattachedwiththeopinionsoftheBoardofSupervisorsand
externalauditors.
Article56
AccountingandInternalAuditing
1.
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TheConcessionaireshallsetupitsownaccountingsystemwithsoundadministrativeorganizationandadequate
internalauditingprocedureandshallcomplywiththeinstructionsissuedbytheGovernmentregardingsuchissues,in
particulartheinstructionsissuedthroughtheGamblingInspectionandCoordinationBureauortheFinancialBureau.
2.
TheConcessionaire,asfarastheaccountingcompilationandsubmissionareconcerned,shallonlyadoptthecurrent
standardaccountingformsoftheMacaoSpecialAdministrativeRegion.However,thatshallnotobstructthe
establishmentoftheaccountingbooks,accountingdocumentsorotheraccountinginformationrequiredbytheChief
ExecutiveforAdministrationaccordingtotheproposaloftheCommissionerforGamblingInspectionand
CoordinationBureauortheCommissionerfortheFinancialBureau,andtheChiefExecutivemayformulatethe
requiredstandardsfortheConcessionairetomakeaccountingentriesforitsbusinessactivities,andthe
Concessionaireshallcomplywiththespecialprovisionsintheaccountingcompilationandsubmission.
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Article57
ExternalAuditingofTheAccountsforTheYear
TheConcessionaireshallsubmititsannualaccountstoareputedindependentexternalentityrecognizedworldwideand
agreedinadvancebytheGamblingInspectionandCoordinationBureauandtheFinancialBureauforproceedingwiththe
auditing.The,Concessionaireshallalsoprovidethesaidentityinadvancewithalldocumentsrequired,especiallythe
documentsreferredtoinArticle34ofLawNo.16/2001.
Article58
SpecialAuditing
WhenitisdeemednecessaryorappropriatebytheGamblingInspectionandCoordinationBureauortheFinancial
Bureau,theConcessionaireshall,atanytimeandwhetherpriornoticeisgivenornot,submititselftothespecialauditing
conductedbyareputedindependentexternalentityorotherentitiesrecognized
Article59
CompulsoryAnnouncement
1.
2.
TheConcessionaireundertakestopublishnolaterthan30 thAprilofeachyearthefollowinginformationduringthe
previousbusinessyearasat31 stDecemberinthe"OfficialBulletinoftheMacaoSpecialAdministrativeRegion"and
intwoofthemostpopularnewspapersintheMacaoSpecialAdministrativeRegion.Oneofthesenewspapersshallbe
aChinesenewspaperwhiletheotheraPortuguesenewspaper:
(1)
Thebalancesheet,theprofitandlossaccountandtheappendixes
(2)
Theconsolidatedbusinessreport
(3)
TheopinionsoftheBoardofSupervisors
(4)
Theconsolidatedopinionsoftheexternalauditors
(5)
Thelistofthemajorshareholdersholding5%orover5%ofthecompanycapitaloftheConcessionaireatany
periodoftheyear,withthedisclosureoftheirrelevantpercentageheld
(6)
Thenameofthepositionholderofthecompanyorganization.
Atleasttendayspriortothedateofpublication,theConcessionaireshallalsosubmittotheGovernmentthecopiesof
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alltheinformationreferredtointheprecedingclauseandcopiesofotherinformationrequiredtobeannouncedby
theconcessionarysystemmentionedinArticle6.
Article60
SpecialObligationsofCooperation
ApartfromthegeneralobligationsofcooperationspecifiedinArticle67,theConcessionaireshallalsohaveobligations
tocooperatewiththeGovernment,especiallyinthecooperationwiththeGamblingInspectionandCoordinationBureauand
theFinanceServicesBureau,inprovidingtheinformationandparticularsrequestedinthecourseofspecialauditing,
assistingsuchdepartmentsinanalyzingorcheckingtheaccountingsystemoftheConcessionaire,andperformingallthe
obligationsspecifiedbytheconcessionarysystemmentionedinArticle6.
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Chapter12
Guarantee
Article61
SecurityDepositGuaranteeingtheConcessionaire'sFulfillmentofStatutoryObligationsorContractualObligations
1.
AsecuritydepositguaranteeingtheConcessionaire'sfulfillmentofstatutoryobligationsorcontractualobligations
maybeprovidedinanywayasspecifiedbythelawandacceptedbytheGovernment.
2.
TheConcessionaireshallmaintainafirstdemandinfavoroftheGovernmentandissuedbytheBancoNacional
UltramarinoS.A.,forthepurposeofguaranteeingthe:
(1)
AccurateandtimelyfulfillmentofstatutoryobligationsorcontractualobligationsbytheConcessionaire
(2)
AccurateandtimelypaymentofthestipulatedpremiumtotheMacaoSpecialAdministrativeRegionbythe
ConcessionaireasspecifiedinArticle47
(3)
PaymentofpenaltyorotherfineswhichmaybeimposedontheConcessionaireasspecifiedbythelaworas
stipulatedbythetermsandconditionsinthisConcessionContract
(4)
PaymentofanydamagesincurredasaresultoftheConcessionaire'sfailuretofulfilltheobligationswhollyor
partially,resultingindamageorlossofbenefit,asstipulatedinthisConcessionContract.
3.
TheConcessionaireshallmaintainafirstdemandreferredtointheprecedingclauseinfavorofGovernment,the
maximumamountofwhichshallbeSevenHundredMillionPatacas,withaguaranteeperiodfromthedateofthis
ConcessionContractuntil31 stMarch2007,andafirstdemandwithamaximumamountofThreeHundredMillion
Patacas,withaguaranteeperiodfrom1 stApril2007untiltheexpirydateofthisConcessionContractplusone
hundredandeightydays.
4.
TheConcessionaireshalltakeallnecessarymeasuresandfulfillallobligationstomaintaintheeffectivenessofthe
firstdemandasspecifiedinClause2.
5.
ShouldtheConcessionairefailtofulfillitsrequiredstatutoryobligations,failtopaytherequiredpremiumaccurately
andtimely,failtopaythepenaltyorotherfinesimposedonitasspecifiedbythelaworasstipulatedbythetermsand
conditionsofthisConcessionContract,andhasnotvoicedobjectionwithinthestatutorytimelimit,thenirrespective
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ofwhetherthereisanyjudiciarydecisionbefore,theGovernmentmaydrawthefirstdemandstatedinClause2and
shouldpaymentofanydamagesincurredasaresultoftheConcessionaire'sfailuretofulfilltheobligationswhollyor
partiallyorfailuretofulfillthecontractualobligations,resultingindamageorlossofbenefit,asstipulatedinthis
Contract,theGovernmentshallalsodrawthefirstdemandmentionedinClause2.
6.
ShouldtheGovernmentusethefirstdemandmentionedinClause2,theConcessionaireshall,withinfifteendays
uponreceiptofthenotificationofusingthefirstdemand,takeallnecessarymeasurestorestorethecomplete
effectivenessoftheguarantee.
7.
ThefirstdemandmentionedinClause2mayonlybecancelledsubjecttotheapprovaloftheGovernment.
8.
TheGovernmentmayauthorizetheamendmentoftheprovisionsorconditionsmentionedinClause3toClause6,
andmayauthorizethereplacementofthefirstdemandmentionedinClause2byothermeansstipulatedbythelaw,so
astoprovidetheguaranteeinrespectoftheConcessionaire'sfulfillmentofitsstatutoryobligationsandcontractual
obligations.
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9.
TheConcessionaireshallbearalltheexpensesincurredfromtheissuance,maintenanceandcancellationofthe
securitydepositguaranteeingtheConcessionaire'sfulfillmentofstatutoryobligationsandcontractualobligations.
Article62
SpecificBankGuaranteeinRespectoftheGuaranteeofPaymentofSpecialGamingTax
1.
WhentheGovernmenthasreasontoworrythattheConcessionairewillnotpaythemonthlyamountassessedunder
theSpecialGamingTaxandraisestherequestasspecifiedunderClause5ofArticle27ofLawNo.16/2001,the
Concessionaire,shallprovideafirstdemandinfavourofGovernmentaccordingtotheGovernment'sspecifiedtime
limit,provisions,conditionsandamounttoguaranteethepaymentoftheaforesaidamount.
2.
WithouttheGovernment'spermission,theprovisionsandconditionsmentionedintheaforesaidfirstdemandshall
notbechangedtheConcessionaireshallstrictlyadheretothoseprovisionsspecifiedatthetimewhentheguarantee
isprovided,andshallfulfillalltheobligationswhichareincurredormaybeincurredtotheConcessionaireasaresult
ofmaintainingtheeffectivenessoftheguarantee.
3.
ShouldtheConcessionairenotpaytheSpecialGamingTaxwhichispayabletotheConcessionLicensoraccordingto
thelawandtheprovisionsofthisConcessionContract,thenirrespectiveofwhetherthereisanyjudiciarydecision
before,theGovernmentmaydrawthefirstdemandmentionedinClause1.
4.
ShouldtheGovernmentdrawthefirstdemandmentionedinClause1,theConcessionaireshall,withinfifteendays
uponreceiptofthenotificationofusingthefirstdemand,takeallnecessarymeasurestorestorethecomplete
effectivenessoftheguarantee.
5.
TheConcessionairecanonlycancelthefirstdemandmentionedinClause1aftertheconcessionhasbeenrevokedfor
onehundredandeightydaysandsubjecttotheapprovaloftheGovernment.
6.
TheConcessionaireshallbearalltheexpensesincurredfromtheissuance,maintenanceandcancellationofthefirst
demandmentionedinClause1.
Article63
OtherGuarantees
ThefirstdemandasspecifiedinClause2ofArticle61shallincludeClause3ofArticle20andArticle22(2)ofLaw
No.16/2001,aswellastheguaranteementionedinClause1andClause2ofArticle84ofAdministrativeRegulation
No.26/2001.
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Chapter13
MonitoringtheFulfillmentofConcessionaire'sObligations
Article64
Monitoring,SupervisionandControlbytheGovernment
1.
Thepowerofmonitoring,supervisionandcontroloftheconditionsoftheConcessionaire'sfulfillmentofobligations
shallbeexercisedbytheGovernment,especiallythroughtheGamblingInspectionandCoordinationBureauandthe
FinanceServicesBureau.
2.
Forthesakeofappropriateeffectiveness,ifsorequestedbytheGovernmentandwithoutpriornotice,the
ConcessionaireshallallowtheGovernmentoranyotherspeciallyandappropriatelyentrustedandidentifiedentities
tohavefreeaccesstoanypartoftheConcessionaire'sfacilitiesthereinandtofreelyinspectandauditthe
Concessionaire'saccountingorbookkeepingbooks,
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includinganytransactionrecords,ledgers,minutes,accountsandotherrecordsordocuments,andthemanagement
andstatisticalinformationandrecordsinuse.Moreover,itshallalsoprovidephotocopiesoftheinformationdeemed
necessarybytheGovernmentortheGovernment'sappointedentities.
3.
TheConcessionaireshallcomplywithandexecutethedecisionmadebytheGovernmentwithinthescopeofits
powerinsuchinspectionandmonitoring,especiallytheinstructionsissuedbytheGamblingInspectionand
CoordinationBureau,includingthedecisionoftemporarysuspension(ifany)oftheoperationofthecasinosand
othergamingzones.
4.
Theoperationofthebusinessinconcessionshallbesubmittedtothelongtermmonitoringandinspectionconducted
bytheGamblingInspectionandCoordinationBureauaccordingtotheprovisionsoftheapplicablelaw.
Article65
DailyMonitoringoftheGrossIncomeofGamingOperation
TheConcessionaireshallsubmititselftotheGovernment'sdailymonitoringofthegrossincomeofthegamingoperation
throughtheGamblingInspectionandCoordinationBureau.
Chapter14
GeneralObligationsofCooperation
Article66
Government'sGeneralObligationsofCooperation
TheGovernmentshallcooperatewiththeConcessionairesoastoenabletheConcessionairetofulfillitsstatutory
obligationsandcontractualobligations.
Article67
Concessionaire'sGeneralObligationsofCooperation
FortheapplicabilityoftheprovisionsofthisConcessionContract,theConcessionaireshallcooperatewiththe
Government.Therefore,ifsorequestedbytheGovernment,theConcessionaireshallprovideallthedocuments,information,
dataorevidenceandshallgrantanypermission.
Chapter15
OtherObligationsoftheConcessionaire
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Article68
OperationofCasinos,OtherPremises,andAdjoiningAreas
TheConcessionaireshallensurethatalltheancillaryfacilitiesofthecasinosandotherpremises,aswellastheadjoining
areasforoperatingthebusinessinconcession,areundernormaloperationaccordingtotheoriginalusageorapprovedusage.
Article69
Concessionaire'sGeneralObligations
1.
TheConcessionaireshallhavethespecialobligationstopromoteandtorequestallentitiesemployedtodevelopthe
businessinconcessiontoobserveandensuretherulesofaperfectorganizationandoperation,andtakeotherspecial
securitymeasuresfortheConcessionaire'scasinoandcustomersandstaffofothergamingzonesandforthe
employeesofthecasinosandothergamingzones.
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2.
Forthesakeofdevelopingthebusinessinconcession,theConcessionaireshallemployentitieswhohaveobtained
theproperlicensesandhavebeengivenproperauthorizations,andpossessappropriateexpertiseandtechnological
abilityintherelevantareas.
Article70
OtherApprovalsoftheGovernment
Thereplacement,cancellationandamendmentofanydocumentsandrecordsrelatedtotheConcessionaire'sbusinessor
relatedtotheacquisitionofgamingequipmentandmaterials,shallbesubjecttotheGovernment'sapproval.
Article71
GovernmentConsentsandApprovals
TheGovernment'sconsentsandapprovals,ortherefusalofgrantingsuchconsentsandapprovals,shallnotexemptthe
Concessionaire'stimelyfulfillmentofitscontractualobligationsassumedinthisConcessionContractandshallnotholdthe
Governmentresponsibleforanyliability,unlesstheGovernment'sactionhasimposedaburdenorhascausedspecialand
extraordinarylossestotheConcessionaire.
Chapter16
Concessionaire'sResponsibilities
Article72
BeingResponsibletotheConcessionLicensorforCivilLiabilities
TheConcessionaireshallberesponsibletotheConcessionLicensorinrespectofdamageswhichareattributabletothe
factthattheConcessionairehasfailedtofulfillitsstatutoryobligationsorcontractualobligationswhollyorpartially.
Article73
ExemptionofConcessionLicensor'sResponsibilityinRespectoftheConcessionaire'sNonContractualLiability
TowardsaThirdParty
1.
TheConcessionLicensorshallnotberesponsiblewhollyorpartiallyfortheConcessionaire'sactionstakenormaybe
takenduetointerest,involvingormaybeinvolvingcivilliabilitiesorotherliabilitieswhichmaycausethe
Concessionairetoberesponsibleforsuchliabilities.
2.
TheConcessionaireshallalsoberesponsibleforlossesincurredtothoseentitieswhichareemployedbythe
Concessionaireforthedevelopmentofbusinessinconcessionaccordingtothegeneralprovisionsgoverninga
principalanditsagent.
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Chapter17
ChangeofSubjectintheConcession
Article74
Assignment,SettingupofEncumbrances,TransferTogetherwithFixtureandTransfer
1.
TheConcessionaireshallhavetheobligations,overtlyorcovertly,formalorinformally,nottoassign,transfer
togetherwithfixture,ortransferthebusinessofacertaincasinooracertaingamingzoneortosetupencumbrancesor
totakeanylegalactiontoachievethesamegoal,unlessotherwiseapprovedbytheGovernment.
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2.
3.
Ifanactinbreachoftheprovisionsoftheaforesaidclausehasbeenperformed,thefollowingpenaltyforbreachof
contractshallbepaidtotheMacaoSpecialAdministrativeRegion,andtheimposingofotherapplicablepenaltiesor
penaltyrulesshallnotbeaffected:
Subcontracting,transferringtogetherwithfixtureortransferofthewholebusinessofthecasinoorgaming
zone:OneBillionPatacas.
Subcontracting,transferringtogetherwithfixtureortransferofpartialbusinessofthecasinoorgamingzones:
FiveHundredMillionPatacas.
Settingupanencumbranceonallorpartofthebusinessofthecasinoorgamingzones:ThreeHundred
MillionPatacas.
TheapplicationsrequestingtheapprovalsmentionedinClause1shallbeattachedwithallnecessarydocumentsand
shallstatethefullcontentofthelegalactionsintendedtobetakenbytheConcessionaire.Moreover,itshallnot
obstructtheGovernmentfromrequestingthefurnishingofadditionaldocuments,materialsorinformation.
Article75
SubConcessions
1.
TheConcessionaireshallhavetheobligationnottowhollyorpartiallymakeanysubconcessionoftheconcession
grantedtoit,norshallitperformanylegalactculminatingtoachievingthesameobject,savewiththeGovernment's
approval.
2.
Ifanactinbreachoftheprovisionsoftheprecedingclausehasbeenperformed,thefollowingpenaltyforbreachof
contractshallbepaidtotheMacaoSpecialAdministrativeRegion,andtheotherapplicablepenaltiesorpenaltyrules
shallnotbeaffected:
3.
Fullsubconcession:FiveHundredMillionPatacas
Partialsubconcession:ThreeHundredMillionPatacas
InordertoobtaintheapprovalmentionedinClause1,theConcessionaireshallinformtheGovernmentofitsintentto
makeasubconcessionandshallprovideallinformationdeemednecessarybytheGovernment,includingallthe
correspondencesbetweentheConcessionaireandtheentitywithwhomacontractiscontemplated.
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AsubconcessionshallnotexempttheConcessionairefromitsfulfillmentofitsrequiredstatutoryobligationsor
contractualobligations,unlessotherwiseapprovedbytheGovernmentandwithinthescopeoftheGovernment's
approval.Apartfromthis,irrespectiveofwhethertheConcessionaireisatfaultornot,theConcessionaireshall
assumecomplementaryresponsibilitiestowardstheMacaoSpecialAdministrativeRegioninrespectofthedamage
causedbythenonfulfillmentofallorpartofitscontractualobligationswhichisattributabletothefactsofthe
Concessionaire'ssubconcessionaire.Moreover,theConcessionaireshallhavetherighttoproceedagainstthesub
concessionairetorecoverthedamagesresultingfromsuchnonfulfillment.
Chapter18
NonPerformanceofContract
Article76
NonPerformanceofContract
1.
IftheConcessionaire,duetofactsattributabletotheConcessionaire,failstoperformanyresponsibilityorobligation
arisenfromthisConcessionContractorfromthedecisionsofthe
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Government,theConcessionaireshallacceptthepenaltyorpenaltyrulesstipulatedbytheLaworthisContract,and
theprovisionsofArticles77and78shallnotbeobstructed.
2.
Intheeventofforcemajeure,orunderanyothercircumstancesoffactsproventobenotattributedtothe
Concessionaire,theConcessionaireshallbeexemptedfromtheresponsibilitymentionedintheprecedingclauseonly
whenithasactuallybeenpreventedfromthetimelyandcompleteperformanceofitsresponsibilitiesorobligations.
3.
Onlyincidentsthatareunpredictableandinsurmountable,beyondtheConcessionaireandtheoccurrenceoftheir
effectsarenotsubjecttothewilloftheConcessionaireorthepersonnelmattersoftheConcessionaire,especially
warfare,terrorism,publicdisorder,epidemicdiseases,atomicradiation,fire,thunderandlightning,greatflood,
cyclone,typhoon,earthquakeandothernaturaldisastersthatdirectlyaffectthebusinesscoveredintheconcession,
canberegardedasaforcemajeureevent,andtheconsequencesstipulatedinthefollowingclauseshallarise.
4.
Ifaforcemajeureeventoccurs,theConcessionaireshallinformtheGovernmentimmediatelyandpointoutassoonas
possibletheobligationsarisenfromthisConcessionContract,thecarryingoutofwhicharedeemedtobeobstructed
bytheConcessionaireandunderthesituationsofmeasuresthattheConcessionaireintendstoimplementwiththe
purposeofeliminatingtheeffectoftheincidentsand/ortomaketheperformanceofsuchobligationscomplywiththe
stipulations,andshallindicatesuchmeasures.
5.
IntheeventofanyofthesituationsmentionedinClause3,theConcessionaireshallreinstatethedamagedproperty
and/orrestoresuchpropertytoitsoriginalstateassoonaspossible,soastorestoretheproperrunningandoperation
ofcasinogamingsorotherformsofgaming.IftheConcessionaireisnotentitledtoanyeconomicbenefitinthe
reconstructionoftheabovementionedpropertyand/ortherestorationofsuchpropertytotheoriginalstate,the
ConcessionaireshalltransfertheinsuranceamounttotheConcessionLicensor.
Chapter19
RevocationorTerminationofConcession
Article77
DissolutionAgreedbyBothParties
1.
TheGovernmentandtheConcessionairemaydissolvethisConcessionContractatanytimethroughmutual
agreement.
2.
TheConcessionaireshallassumefullresponsibilityfortheeffectofterminatinganycontractinwhichitisaparty
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thereto.TheConcessionLicensorshallnotassumeanyresponsibilitythereof,unlessotherwiseexplicitlyspecified.
Article78
Redemption
1.
FromthefifteenthyearoftheConcessiononward,theGovernmentmayredeemtheConcessionfromthe
Concessionairebysendinganoticewithadviceofreceiptthroughregisteredpostatleastoneyearinadvance,unless
otherwisestipulatedbyLaw.
2.
TheConcessionLicensorduetosuchredemption,shallbeentitledtoandassumesalltherightsandobligations
arisenfromthelegalactseffectivelyenteredintobytheConcessionairebeforethedateofnoticementionedinthe
precedingclause.
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3.
ForobligationsthataresetupbycontractsenteredintoafterthenoticementionedinClause1sentbythe
Concessionaire,theConcessionLicensorshallassumesuchobligationsonlywhenthecontractshavealreadybeen
approvedbytheGovernmentbeforesuchcontractsareconcluded.
4.
EventhoughtheConcessionLicensormayassumetheobligationssetupbytheConcessionaire,thisshallnot
obstructtherightofclaimtheConcessionLicensorenjoysregardingtheobligationssetbytheConcessionairethat
exceedthenormalmanagementofthebusinessinconcession.
5.
Aftertheconcessionisredeemed,theConcessionaireshallbeentitledtoreceivereasonableandfairdamageswhichis
equivalenttothebenefitsthatarenolongerobtainedbytheConcessionairefromtheredeemedresorthotelcasino
complexstatedintheInvestmentPlanattachedtothisConcessionContract.Theamountofdamagesshallbe
equivalenttothevalueoftheaforesaidcomplex'srevenue(beforedeductingtheinterest,depreciation,and
amortisation)obtainedinthetaxationyearprecedingtheredemptionoftheconcession,multipliedbythenumberof
yearsremainedpriortotheterminationoftheconcession.
Article79
TemporaryAdministrativeInterventions
1.
IfasituationinwhichtheConcessionaireterminatesorsuspendsallorpartofthebusinessinconcessionwithout
approvalandnotduetoforcemajeureeventshashappenedorisabouttoappear,ortheorganizationandoperationof
theConcessionaireortheoverallconditionoftheinstallationandequipmentshowseriousdisorderordeficiencythat
mayaffectthenormaloperationofthebusinessinconcession,duringthetimewhentheabovementionedtermination
orsuspensionpersists,orwhentheabovementioneddisorderordeficiencycontinuestoexist,theGovernmentmay
replacetheConcessionairedirectlyorthroughathird,partysoastoensuretheoperationofthebusinessin
concessionandprocurenecessarymeasurestosafeguardthesubjectofthisConcessionContract.
2.
Duringtheperiodoftemporaryadministrativeinterventions,thenecessaryexpensesformaintainingthenormal
operationofthebusinessinconcessionshallbepaidbytheConcessionaire.Forthispurpose,theGovernmentmay
drawonthesecuritydepositthatguaranteestheConcessionaire'sperformanceofitsstatutoryobligationsor
contractualobligationsanddrawontheguaranteeprovidedbythecontrollingshareholderoftheConcessionaire.
3.
Afterthefactorscausingthetemporaryadministrativeinterventionshavedisappeared,iftheGovernmentdeems
appropriate,theGovernmentshallinstructtheConcessionairetoresumethenormaloperationofthebusinessin
concessionwithinadesignatedtimelimit.
4.
IftheConcessionairedoesnotwishtoorisunabletoreoperatethebusinessinconcession,or,despitethe
Concessionairehasreoperatedthesaidbusinesses,theorganizationandoperationcontinuetosufferfromserious
disorderordeficiency,thentheGovernmentmaydeclarethatthisConcessionContractbeunilaterallydissolvedon
thebasisofnonperformance.
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Article80
UnilateralDissolutionduetoNonPerformance
1.
UnderthecircumstancesthattheConcessionairefailstocarryoutitsbasicobligationsrequiredbyLaworthis
Contract,theGovernmentmaydissolvethisConcessionContractunilaterallyonthebasisofnonperformance,and
terminatetheconcessionaccordingly.
2.
ThemainreasonsthatconstitutetheunilateraldissolutionofthisConcessionContractinclude:
(1)
deviationfromthesubjectoftheconcessionbyoperatingunauthorizedgamingorbyoperatingbusinesses
otherthanthoseoftheConcessionaire
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3.
(2)
abandonmentoftheoperationofthebusinessinconcessionortemporarysuspensionoftheoperationofthe
saidbusinesswithoutvalidreasonsforover7daysconsecutivelyorforover14daysintermittentlywithina
calendaryear
(3)
transferinwholeorinpartoftheoperationtemporarilyordefinitivelyincontraventionoftheprovisionsof
theconcessionarysystemmentionedinArticle6
(4)
defaultofpaymentoftax,premium,dutiesorotherreturnspayabletotheConcessionLicensorasstipulated
bytheconcessionarysystemmentionedinArticle6andfailtosubmitanydefensewithinthetimelimit
requiredbyLaw
(5)
refusalorfailureoftheConcessionairetorecovertheconcessionpursuanttotheprovisionsofClause4ofthe
precedingArticle.Oreventhoughtheconcessionhasbeenrecovered,theconditionthatcausedtemporary
administrativeinterventioncontinuestoexist
(6)
repeatedobjectionstothemonitoringandinspection,orrepeatedfailuretocomplywiththedecisionofthe
Government,especiallytheinstructionsoftheGamblingInspectionandCoordinationBureau
(7)
constantfailurestoobservethebasicobligationsincludedintheconcessionarysystemmentionedin
Article6
(8)
failuretoprovideorreplenishthesecuritydepositorguaranteepursuanttotheprovisionsandtimelimits
specifiedinthisConcessionContract
(9)
bankruptcyorinsolvencyoftheConcessionaire
(10)
engagementinanyseriousfraudulentactivitieswiththepurposeofcausinginjurytopublicinterest
(11)
repeatedseriousviolationoftheimplementationrulesofcasinogamingsorotherformsofgaming,orcausing
harmtotheimpartialityofcasinogamingsorotherformsofgaming.
SubjecttonotobstructingtheapplicabilityoftheprovisionsofArticle83,ifanyconditionoftheprecedingclause
happens,oranyotherconditionthatmay,accordingtotheprovisionsofthisclause,resultsintheunilateral
dissolutionofthisConcessionContractduetononperformance,theGovernmentshallnotifytheConcessionaireto
fullyperformitsobligationsandrectifyorremedytheconsequencescausedbyitsactwithinarequiredtimelimit,
exceptwhenthedefaultisnonrectifiable.
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4.
IftheConcessionairefailstoperformitsobligations,rectifyorremedytheconsequencescausedbyitsactasrequired
bytheGovernment,theGovernmentmay,bymeansofanoticegiventotheConcessionaire,unilaterallydissolvethis
ConcessionContract.TheGovernmentmayalsogiveawrittennoticeofitsintentiontotheentitieswhichhave
guaranteedtoprovidefinancingforthoseinvestmentslaunchedbytheConcessionaireandthoseobligationsassumed
bytheConcessionaireaccordingtoandforthepurposeoftheregulationsconcerningthefinancialabilitymentioned
intheconcessionarysysteminArticle6.
5.
NoticeofthedecisiontodissolvethisContractasstatedintheprecedingclausesenttotheConcessionaireshallhave
immediateeffectwithoutgoingthroughanyotherprocedures.
6.
IfanyjustifiedemergencysituationhappensandtheGovernmentcannottolerate,thetardinessintheproceduresof
rectifyingthenonperformancereferredtoinClause3,onthepremiseofnotaffectingtheexecutionofthose
proceduresandtheprovisionsofClause4,theGovernmentmayimmediatelyenforcetemporaryadministrative
interventionpursuanttotheprovisionsoftheprecedingclause.
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7.
IfthisConcessionContractisdissolvedunilaterallyduetononperformancepursuanttotheprovisionsofthisclause
suchthattheConcessionairehastheobligationtopaydamages,thesaiddamagesshallbecalculatedaccordingtothe
generalprovisionsofLaw.
8.
IfthisConcessionContractisdissolvedunilaterallyduetononperformance,theCasinosandthefacilitiesand
equipmentsusedforgamingsshallimmediatelybevestedintheConcessionLicensorgratuitouslyevenifthesameis
notlocatedinthecasinos.
Article81
Invalidity
1.
ThisConcessionContractshallbecomeinvalidupontheexpiryoftheconcessiontermspecifiedinArticle8,andthe
contractualrelationshipbetweenthetwoPartiesshallalsobeterminatedaccordingly.Nevertheless,theapplicability
ofthosetermsinthisConcessionContractwhichcontinuetotakeeffectevenaftertheexpiryofthetermof
concessionshallnotbeobstructed.
2.
Iftheinvaliditysetforthintheprecedingclauseappears,theConcessionaireshallbefullyresponsibleforthe
terminationoftheeffectofanycontractinwhichitisapartythereto.TheConcessionLicensorshallnotassumeany
responsibilitythereof.
Chapter20
AmendmentsandRevisionsofthisContract
Article82
AmendmentstothisConcessionContract
1.
ThisConcessionContractmaybeamendedaccordingtolawafterconsultationbetweentheGovernmentandthe
Concessionaire.
2.
AmendmentstothisConcessionContractandanyappendixtheretoshallbesubjecttotheproceduressetforthin
Article91ofAdministrativeRegulationNo.26/2001.
Chapter21
TheStageBeforeJudicialContention
Article83
NegotiationintheStageBeforeJudicialContention
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1.
IfproblemsordisagreementsoccurbetweenthePartiesheretoovermatterswhichgovernthisConcessionContract
suchastheeffectiveness,applicability,execution,interpretationorsubstitution,thePartiesshallholdconsultations.
2.
TheoccurrenceofproblemsshallnotrelievetheConcessionairefromitstimelyandcompleteperformanceofthe
provisionsofthisConcessionContractaswellasthedecisionsoftheGovernmentthattheConcessionairehadbeen
informedofpursuanttotheprovisionsofthisConcessionContract.Moreover,theConcessionaireshallnotbe
allowedtosuspendthedevelopmentofitsbusinessesinanyaspect.Suchdevelopmentshallcontinuetoproceed
pursuanttotheprovisionsthatareinforceonthedaytheproblemsareraised.
3.
TherequirementsthattheConcessionaireshallexecutethedecisionsoftheGovernmentintheprecedingclauseshall
alsobeapplicabletosubsequentdecisionsmadeonthesamematter,evenifthedecisionsaremadeafterthedatethe
negotiationcommencesaslongastheConcessionairehasbeennotifiedofthefirstdecisionamongthosesubsequent
decisionsbeforethedatetheconsultationcommences.
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Chapter22
FinalRequirements
Article84
AcquisitionofLicenses,Permits,orApprovals
1.
ThisConcessionContractshallnotrelievetheConcessionairefromitsobligationstoapplyfor,payforand/ortake
measuresforanylicense,permit,orapprovalessentialfortheacquisitionofanyaspectoftheoperationofbusinessof
theConcessionaireortheobligationsstipulatedinthisContract.NeitherdoesthisConcessionContractexemptthe
Concessionairefromobservingorcomplyingwithanyimportantdocumentsneededfortheacquisitionofthe
aforesaidlicenses,.permits,orapprovalsandcausingtheeffectivenessofthesametocontinue.
2.
Ifanylicense,permit,orapprovalmentionedintheprecedingclauseissurrendered,invalid,suspendedorannulled,
orisnotlongereffectiveforanyreason,theConcessionaireshallinformtheGovernmentimmediatelyandshall
indicatethosemeasuresthathavealreadybeentakenorwillbetakeninordertorecoverthoselicenses,permits,or
approvalsortocausetheeffectivenessofthesametocontinue.
3.
NoneofthetermsofthisConcessionContractshallbeconstruedtobeusedtosupersedethetermsgoverningthe
acquisitionofanyessentiallicense,permit,orapprovalrequiredbylaworthisContract.
Article85
IndustrialPropertyandIntellectualPropertyRights
1.
Inoperatingitsbusinesses,theConcessionaireshallrespecttheindustrialpropertyandintellectualpropertyrightsin
accordancewiththelawoftheMacaoSpecialAdministrativeRegioncurrentlyinforce,andshallassumesole
responsibilitiesfortheconsequencesarisingfromtheinfringementofsuchproperties.
2.
TheConcessionairewillonlybeissuedlicenses,permits,orapprovalsparticularlythoselicenses,permits,or
approvalsthatarerelatedtotheimplementationoftheinvestmentprojectsappendedtothisConcessionContract,on
thepremisethatithasrespectedallindustrialpropertyandintellectualproperty.
3.
TheConcessionaireshalltransfergratuitouslytotheConcessionLicensoranyresearch,draft,scheme,drawing,
documentorothermaterialsofanynaturethatareessentialtoorusefultotheConcessionLicensorforcarryingout
thedutiesconferredpursuanttotheprovisionsofthisConcessionContractorrightsconferredaccordingtothis
ConcessionContract.
4.
TheConcessionaireshallprepareanytypeofdocumentsordeclarationsattherequestoftheConcessionLicensorso
thattherightsmentionedintheprecedingclausecanbeacknowledgedorregistered.
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5.
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IftheindustrialpropertyorintellectualpropertyrightsallocatedtoortobeallocatedtotheConcessionLicensor
pursuanttotheprovisionsofthisclauseareinfringed,andtheConcessionaireisunabletoresolveanydisputewith
anythirdpartyinrespectofsuchinfringement,theConcessionLicensormayinterveneinordertoprotectthe
aforesaidproperties.TheConcessionaireundertakestorenderallassistancesorequestedforthispurpose.
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Article86
Notices,Announcements,AuthorizationsandApprovals
1.
Unlessotherwisestipulated,thenotices,announcements,authorizationsandapprovalsmentionedinthisConcession
Contractshallbeinwrittenformandsentinthefollowingmanner:
(1)
bycourier,butitmustbeevidencedbyasignatureacknowledgingthereceiptthereof
(2)
byfax,butitmustbeevidencedbyareceiptoftransmission
(3)
byregisteredpostwithanadviceofreceipt.
2.
TheconsentsgivenbytheGovernmentarealwayspriorconsentswhichmayalsobegivensubjecttocertain
conditionstobesetbytheGovernment.
3.
NotgivingareplytotheConcessionaire'sapplicationforconsentandapprovalorotherrequestsshallbedeemedasa
disapproval.
4.
FortheapplicabilityoftheprovisionsofthisConcessionContract,thefollowingaddressesandplaceswhere
facsimiletransmissionsarereceivedshallbedeemedastheaddressesofthePartiestothisContract.
TheGovernmentoftheMacaoSpecialAdministrativeRegion:GamblingInspectionandCoordinationBureau
AvenidadaPraiaGrande,nmeros762804,edificio"ChinaPlaza",21.andar,Macau
FaxNo.:370296
TheConcessionaire:WynnResorts(Macau)LimitedAvenidadaAmizade,nmero918,edificio"WorldTrade
Centre",8.andar"C",Macau.
FaxNo.:336057
5.
Bygivingadvancenoticetotheotherparty,eitherPartymaychangeitsaddressandplaceforreceivingfacsimile
transmissionsmentionedintheprecedingclause.
Article87
ProhibitiononDoinganyActswhichRestrictCompetitions
1.
TheConcessionaireshallengageinitsbusinessbyadheringtotheinherentprinciplesofamarketeconomyandunder
benignandfaircompetition.
2.
TheConcessionaireshallhavetheobligationnottoenterintoagreementsinanymannerwithotherconcessionaires
operatingintheMacaoSpecialAdministrativeRegion,othertransfereesofconcessionsortheConcessionaire's
managementcompanyhavingtodowiththeoperationsofcasinogamingsorotherformsofgamingoperationsinthe
MacaoSpecialAdministrativeRegion,orwithanycompanybelongingtotherelevantgroupwhichmayobstruct,
restrict,ordestroycompetitionnorshalltheConcessionairepracticeanyagreedactwhichmayobstruct,restrict,or
destroycompetition.
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3.
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TheConcessionaireshallhavetheobligationnottoabusetheleadingpositioninthemarketorinconsiderableparts
ofthemarketwhichitholdsandwhichmayobstruct,restrict,ordestroycompetition.
Article88
GamingJunketTourPromoters
TheConcessionaireshallbeheldaccountabletotheGovernmentfortheactivitiesinthecasinosandothergamingzones
carriedoutbythegamingjunkettourpromotersregisteredwithitscompany,
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itsdirectorsandcooperators.Therefore,theactivitiesoftheaforesaidgamingjunkettourpromoters,directorsand
cooperatorsshallbemonitored.
Article89
PromotionoftheConcessionaire'sFacilities
1.
TheConcessionaireshallhavetheobligationstolaunchpromotionalandmarketingactivitiesforitsfacilities,
particularlythecasinos,bothinsideandoutsidetheMacaoSpecialAdministrativeRegion.
2.
TheGovernmentandtheConcessionaireshallhavetheobligationstocoordinatetheirownpromotionaland
marketingeffortsandactivitieswiththoseeffortsandactivitiespromotingMacaucarriedoutoutsideMacau.
3.
TheConcessionaireshallhavetheobligationnottoallowtheuseoftheimagesofitscasinosorotherpremisesused
foroperatingthebusinessinconcessionandtheiradjoiningareasorexplanatorydescriptionscontaininglarge
amountofimpliedmeaningsonwebsitesorwebpagesovertheInternet,orinanyotherplacesusedforpromoting
interactivegamingwithouttheconsentoftheGovernment.
Article90
ContentIncorporatedintotheConcessionContract
A$farasthetendersubmittedbytheConcessionaireinitscapacityasabidderinthefirstopenandpublicbiddersfor
the(three)concessionlicensesforoperatingcasinogamingsorotherformsofgamingisconcerned,allofthecontentstherein
whicharenotinconflictwiththisConcessionContractexplicitlyorinexplicitlyshallbedeemedtohavebeenincorporated
intothecontentofthisConcessionContract.
Article91
GamingChipsUsedintheOperatingtheBusinessinConcession
1.
TheConcessionaireshallcomplywiththeguidanceoftheGovernmentissuedinrespectoftheissuanceofgaming
chipsofanytypeornatureandputtingthesameintocirculation.
2.
ThequantitiesofgamingchipstobeputintocirculationshallnotbesubjecttotheconsentoftheGovernment
however,thatshallnotpreventtheGovernmentfromsettinganupperlimitonsuchquantities.
3.
TheConcessionaireshallguaranteetousecash,cheques,orequivalentcreditinstrumentstoredeemthosegaming
chipswhichhavebeenputintocirculation.
4.
Withregardtoallthosegamingchipswhichhavebeenputintocirculation,theConcessionaireshallguaranteethe
immediateredemptionofthesamebycashorinstrumentswithahighabilitytopay,bymaintainingasolvencyratio,
settingupareserve,andcomplyingwiththeprudentregulationsspecifiedbytheGovernmentatvarioustimes.
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Article92
Confidentiality
1.
ThedocumentspreparedbytheGovernmentortheConcessionaireforthecomplianceoftheprovisionsofthe
ConcessionarySystemmentionedinArticle6orofthisConcessionContractareofconfidentialnatureand,canonly
beprovidedtoathirdpartywiththeconsentoftheotherparty.
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2.
TheGovernmentandtheConcessionaireshalltakenecessarymeasuressothattheGovernmentshallguaranteethat
thestaffofthepublicandadministrationauthoritiesoftheMacaoSpecialAdministrativeRegionareboundbythe
obligationtomaintainconfidentiality,andtheConcessionaireshallguaranteethatitsstaffareboundbythe
obligationtomaintainconfidentiality.
3.
TheGovernmentandtheConcessionaireshallprocurethecompliancewiththeobligationtomaintainconfidentiality
byotherindividualswhohaveobtainedormayobtainconfidentialdocumentsespeciallythoseindividualswho
haveobtainedormayobtainconfidentialdocumentsthroughconsultancycontracts,contractsforprovidingservices,
orothercontracts.
Article93
ComplaintBooklets
1.
TheConcessionaireshallprovidecomplaintbookletsspecificallyforthecomplaintsaboutcasinogamingsorother
formsofgamingoperations,andshallensurethatsuchbookletsareavailableforusebycustomersofthecasinosand
othergamingzones.
2.
TheConcessionaireshallpostnoticesinaconspicuousmannerinthecasinosandothergamingzonestostatethat
complaintbookletsareavailable.
3.
TheConcessionaireshallsendcopiesofthecomplaintsmentionedinthecomplaintbookletstotheGovernment
within48hours,andareportpreparedbytheConcessionaireinrespectofsuchcomplaintsshallbeattachedthereto.
Chapter23
TransitionalProvisions
Article94
JobTrainingProgramme
1.
TheConcessionaireshallcompileajobtrainingprogrammeforemployeeswhoholdpositionsinthosebusinessareas
coveredbytheconcessionwithinthetimelimitstipulatedbytheGovernment.
2.
TheConcessionaireshallsubmittotheGovernmentanyotheradditionaldocumentsorinformationrelatingtothe
programmementionedintheprecedingclausewithinthetimelimitstipulatedbytheGovernment.
Article95
ManagingDirectorsoDesignated
1.
Within15daysfromenteringintothisConcessionContract,theGovernmentshallinformtheConcessionairewhether
approvalisgiventotheappointmentofthecandidatedesignatedinAppendix1oftheAdministrativeRegulation
No.26/2001toserveasmanagingdirectoroftheConcessionaire,whichappendixissubmittedinthe
Concessionaire'scapacityasabidderinthefirstopenandpublicbiddersforthe(three)concessionlicensesfor
operatingcasinogamingsorotherformsofgaming.
2.
TheprovisionsofClause1andClause2ofArticle21shallbeapplicabletotheactofdelegatingthemanagement
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authorityoftheConcessionairetothemanagingdirectorforthefirsttimeafterthisConcessionContracthasbeen
executed.
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Article96
BankingAccounts
Within7daysfromenteringintothisConcessionContract,theConcessionaireshallsubmitthosedocumentswhich
containallthebankingaccountsandbalancesbearingthenameoftheConcessionairetotheGovernment.
Article97
DeclarationontheObligationsofCooperation
TheConcessionaireshalltakemeasuressoastoobtainadeclarationsignedbyeveryshareholderholding5%orover5%
ofthecompanycapitaloftheconcessionaire,everydirectoroftheConcessionaireandkeyemployeeholdingprominent
positionsinthecasinos,andeverycontrollingshareholderoftheConcessionaire,includingtheultimatecontrolling
shareholders,whosecontentistheyagreetobeboundbyaspecialobligationofcooperatingwiththeGovernment.
Therefore,ifsorequested,theyshallprovideallthedocuments,materials,informationorevidence,andshallgiveany
permission.Within15daysfromenteringintothisConcessionContract,theConcessionaireshallsubmitthesaiddeclaration
totheGovernment.
Article98
FixedAmountandVariableAmountofthePremium
1.
ThefixedamountoftheannualpremiummentionedinArticle47shallonlybecomepayableonaproratabasisas
from26 thJune2005.However,iftheConcessionairebeginstooperateacasinooragamingzoneinsidetheresort
hotelcasinocomplexstatedintheInvestmentPlanattachedtothisConcessionContract,itshallbeexcepted.Inthese
circumstances,thefixedamountofthepremiumshallbecomepayablestartingfromthattimeforth.
2.
ThevariableamountoftheannualpremiummentionedinArticle47shallonlybecomepayableaftertheoperationof
casinogamingsorotherformsofgaminghascommenced,regardlessofwhethertheoperationtakesplaceinthe
temporaryfacilitiesorinthefacilitiesmentionedintheprecedingclause.Forthecalculationofthevariableamount
ofthepremiummentionedinArticle47,theConcessionaireshall,nolaterthan10daysbeforeitsfirstcasinoorfirst
gamingzoneisopened,submitalisttotheGovernmentwhichsetsforththequantitiesandlocationsofgamingtables
andelectricalormechanicalgamingmachines,including"slotmachines",intendedtobeoperatedinthatyear.
3.
IftheConcessionaireopensitsfirstcasinoorfirstgamingzoneinthetemporaryfacilities,thevariableamountofthe
annualpremiumshallnotbelowerthantheamountpayablefor20gamingtables,duetolongtermoperation,
exclusivelyassignedforspecificgamingsorgainers,especiallythoseunderoperationinthespecialgaminghallor
areaandfor20gamingtables,duetolongtermoperation,notexclusivelyassignedforspecificgamingsorgamers,
untiltheoperationofacasinooragamingzonecommencesatthefacilitiesmentionedinClause1.
4.
ThevariableamountoftheannualpremiummentionedinClause5ofArticle47shallberevisedbybothParties
startingfromthethirdyearafterthisConcessionContractisenteredinto.
Article99
ApprovaloftheCompany'sArticlesofAssociationandtheProspectiveCompanyAgreement
Within60daysfromenteringintothisConcessionContract,theGovernmentshallinformtheConcessionaireofwhether
theCompany'sArticlesofAssociationandtheProspectiveCompanyAgreementareapproved.
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Article100
AppointmentorAuthorization
Within15daysfromenteringintothisConcessionContract,theConcessionaireshallinformtheGovernmentofalland
anyappointmentorauthorizationrelatingtothepowerofthelegalactsofenterpriseoperationwhichexistonthedateof
signingofthisConcessionContractandwhosescopeofauthorityaredelegatedtotheBoardofDirectorsonafoundationof
stablerelationship,andwhichareestablishedinthenameoftheConcessionaire,sothattheGovernmentcangiveitsconsent.
Nevertheless,thepowerstoperformactswhicharesolelyofthenatureofregularaffairs,especiallythepowerstoperform
suchactsinpublicauthoritiesorpublicorganisations,shallbeexemptedfromtheselimitations.Alternatively,astatementof
declarationevidencingthenonexistenceoftheaforesaidappointmentorauthorizationshallbesubmittedwithinthe
aforesaidtimelimit.
Article101
CurrentParticipationintheCasinoGamingandOtherFormsofGamingOperationsinotherJurisdictions
Within15daysfromenteringintothisConcessionContract,theConcessionaireshallinformtheGovernmentofthe
currentparticipationinthecasinogamingandotherformsofgamingoperationsinanyotherjurisdictionsbyanyofthe
Concessionaire'sdirectors,controllingshareholdersincludingtheultimatecontrollingshareholder,orbyanyshareholder
whodirectlyorindirectlyholds10%orover10%ofthecompanycapitalofthecompanycapitalcontribution,includingthe
participationmerelybymeansofmanagementcontracts.
Article102
CompositionoftheConcessionaire'sCompanyOrganisation
Within7daysfromenteringintothisConcessionContract,theConcessionaireshallinformtheGovernmentofthe
compositionofitsBoardofDirectors,PresidencyoftheShareholdersMeeting,BoardofSupervisorsandothercompany
organisationsonthedateofenteringintothisConcessionContract.
Article103
ShareholderStructureandCorporateCapitalStructure
1.
Within7daysfromenteringintothisConcessionContract,theConcessionaireshallsubmittotheGovernmentsuch
documentswhichsetforththeConcessionaire'sshareholderstructureonthedateofenteringintothisConcession
Contract.
2.
Within7daysfromenteringintothisConcessionContract,theConcessionaireshallsubmittotheGovernmentsuch
documentswhichsetforththeConcessionaire'sstructureofbodycorporateholding5%orover5%ofthecompany
capitaloftheconcessionaire,especiallythestructureofcompanycapitalofthatcompany,aswellasthestructureof
companycapitalofthebodycorporateholding5%orover5%ofsuchbodycorporate,andsoforthandallthewayup
tothestructureofcompanycapitalofthenaturalpersonsandbodiescorporatewhoareultimateshareholders.
3.
Within15daysfromenteringintothisConcessionContract,theConcessionaireshallsubmittotheGovernmentthe
statementofdeclarationfortheyear2002asmentionedinClause2ofArticle19.
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Article104
RestrictionsontheNumberofConcessions
1.
Until1 stApril2009andpursuanttotheprovisionsoflaw,theConcessionLicensorshallhavetheobligationnotto
grantconcessionlicensesforoperatingcasinogamingsorotherformsofgaming,soastoensurethatthenumberof
concessionsatanytimeshallnotbemorethanthree.
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2.
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IftheConcessionLicensorgrantsnewconcessionlicensesforoperatingcasinogamingsorotherformsofgamingafter
thedatementionedintheprecedingclauseandthetermsofthenewconcessionsareoverallmorefavourablethanthe
termsstipulatedinthisConcessionContract,thentheGovernmentshallextendthosemorefavourabletermstothe
ConcessionairebyamendingthisConcessionContract.
Article105
RevisionsofthePercentageofFunding
ThepercentageoffundingmentionedinArticle48andArticle49shallberevisedbybothPartiestothisContractwithin
theyear2010.
Article106
TakingEffect
ThisConcessionContractismadeintwoofficiallanguagesandshalltakeeffectasfrom27 thJune,2002.
ThisContractissignedbybothParties.
PursuanttotheprovisionsofArticle17andArticle24oftheGeneralScheduleofStampDutyPayment,thestampduty
shallbeMOP150.00(OneHundredandFiftyPatacas).Moreover,pursuanttotheprovisionsofClauses1and2ofArticle4
oftheScheduleofNotarizationHandlingFee,thehandlingfeeshallbeMOP708,600.00(SevenHundredandEight
ThousandandSixHundredPatacas).AllthefeeshavebeenpaidbyPartyBbypresentingthepaymentvoucherandthesame
hasbeenfiled.
AllofthedocumentsmentionedinthisConcessionContractarekeptinfileNo.17039oftheNotaryOfficeofthe
FinanceServicesBureau.
ThecontentsofthisContracthavebeenreadandinterpretedinanaudiblemannertobothParties.Duetothefactthatthe
representativeofPartyBisnotconversantwitheitheroftheofficiallanguages,anEnglishtranslationofthisContracthas
beenprovidedtohim.
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AppendixtotheConcessionContract
InvestmentPlan
TheConcessionaireparticularlyundertakestoimplementthefollowingprojectandtheapplicabilityoftheprovisionsof
Article39ofthisConcessionContractshallnotbeaffected:
aresorthotelcasinocomplextobecompletedbyDecember2006andopentothepublic.
Total:
$4.00billionPatacas,whichmustbeexpendedwithin7yearsuponthesigningofthisConcessionContract.
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QuickLinks
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ConcessionContractforOperatingCasinoGamingorOtherFormsofGamingintheMacaoSpecialAdministrativeRegion
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