Status of Company
11 Status of Company
Unless this or any other Act expressly provides otherwise, the Company or a subsidiary of the Company – is not, and does not represent, the Crown; and is not exempt from any rates, tax, duty or other impost under any law merely because the Crown has beneficial ownership of shares in it.
The Crown is not liable for any liability or obligation of the Company or subsidiary of the Company unless – the Treasurer gives a guarantee or indemnity under section 14 in relation to that liability or obligation; or a guarantee is given under the Tasmanian Public Finance Corporation Act 1985 in respect of the Company or subsidiary.
This Act’s bill:Explanatory notesSecond reading speech
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