7Status of Company

7 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) except as provided in the Racing (Tasracing Pty Ltd) (Transitional and Consequential Provisions) Act 2009 , 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 7 Subsection (2) substituted by No. 22 of 2023, s. 30, 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 an indemnity under section 17 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.