11Status of company

### 11 Status of company > > (1)  Unless this or any other Act expressly provides otherwise, a company or a subsidiary of a company – > > > > > > (a) is not, and does not represent, the Crown; and > > > > > > > (b) is not exempt from any rate, tax, duty or other impost imposed under any law merely because the Crown has beneficial ownership of shares in it; and > > > > > > > (c) is not subject or entitled to any prerogative right or privilege of the Crown. > > > (2)  [*\[Section 11 Subsection (2) substituted by No. 22 of 2023, s. 8, Applied:01 Jul 2023\]*](/view/html/inforce/2023-07-01/act-2023-022#GS8@EN) The Crown is not liable for any liability or obligation of a company or subsidiary of a company unless – > > > > > > (a) the Treasurer gives a guarantee or indemnity under [section 12](#GS12@EN) in relation to that liability or obligation; or > > > > > > > (b) a guarantee is given under the [Tasmanian Public Finance Corporation Act 1985](/view/html/inforce/2026-04-12/act-1985-059) in respect of the company or subsidiary.