10Status of Company

10 Status of Company

(1)  Unless this or any other Act expressly provides otherwise, the Company –

(a) is not, and does not represent, the Crown in right of Tasmania; and

(b) is not exempt from any rate, tax, duty or other impost imposed under any law merely because the Crown in right of Tasmania has beneficial ownership of shares in it; and

(c) is not subject to any prerogative right or privilege of the Crown in right of Tasmania.

(2)  [Section 10 Subsection (2) substituted by No. 22 of 2023, s. 25, Applied:01 Jul 2023] The Crown in right of Tasmania is not liable for any liability or obligation of the Company unless –

(a) the Treasurer gives a guarantee or indemnity under section 13 in relation to that liability or obligation; or

(b) a guarantee is given under the Tasmanian Public Finance Corporation Act 1985 in respect of the Company.