55Status of AFML

55 Status of AFML

55 Status of AFML

(1) AFML is an agency through which the State of New South Wales carries out the activity of providing superannuation investment management services for State public sector superannuation schemes and other superannuation schemes and for that purpose it is a public authority of the State.

(2) However, AFML—

(a) is not, and does not represent, the State of New South Wales except by express agreement with the Treasurer, and

(b) is not exempt from any rate, tax, duty or other impost imposed by or under any law of the State of New South Wales merely because it is a company in which the State holds shares, and

(c) cannot render the State of New South Wales liable for any debts, liabilities or obligations of AFML,

unless this Act or any other Act or law otherwise expressly provides.