13Status of company

13 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.

(2)  The Crown is not liable for any liability or obligation of a company or subsidiary of a company unless the Treasurer gives a guarantee or indemnity under section 18 .