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Dreamworld has cancelled its plan to reopen for a memorial day.

UPDATE 4.46pm:

Dreamworld’s controversial plan to reopen on Friday to host a memorial for the victims of Tuesday’s tragedy has been called off.

“Dreamworld has been advised by Queensland Police Services (QPS) that we are unable to proceed with tomorrow’s memorial service as planned,” the Gold Coast theme park said in a statement, as reported by News Corp.

“Obviously the integrity of the Coronial Investigation is of paramount importance and postponing the service will give QPS the time it needs to conduct this investigation.

“We will provide an update to the media on Monday with regard to the memorial service and re-opening of the Park.”

Mamamia previously reported:

Gold Coast theme park Dreamworld has said it will reopen to the public this Friday, just three days on from the shocking deaths of four adults.

Announcing the decision on Wednesday afternoon, a spokesperson for Dreamworld confirmed gates would open at 11am with all entry fee proceeds going to the Australian Red Cross.

Four people have been confirmed dead following an accident on the Thunder River Rapids ride.

"Activities will be limited to smaller rides, animal attractions, and the water park," the park announced in a statement.

Tragedy struck the iconic tourist destination at around 2.20pm on Tuesday afternoon when Canberrans Kate Goodchild, her brother Luke Dorsett, his partner Roozi Araghi and New Zealand woman Cindy Low were all killed on the Thunder River Rapids ride.

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Dreamworld will reopen to the public on Friday. Source: Getty. 

Goodchild's 12-year-old daughter and Low's 10-year-old son were also on the six-seater ride but were mercifully thrown from the raft and avoided any serious physical injury.

It is now being reported that the ride was being controlled by an 18-year-old woman on her first day on the job.

Within hours of the accident occurring, Dreamworld announced the park would be closed until further notice, with a statement reading; “Dreamworld is currently closed until further notice due to an incident at the park."

The Thunder River Rapids ride after the accident. Source: Channel 7.

"We are deeply shocked and saddened by the incident; our heart and thoughts go out to the families involved and their loved ones.”

According to a former Dreamworld employee, though, something of this magnitude was inevitable, admitting that the Thunder River Rapids ride had been plagued by technical issues since the park first opened in 1986 and had "a potentially fatal flaw."