Commonwealth Consolidated Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 - SECT 7

             (1)  In this Act, Commonwealth authority means either of the following kinds of body that holds money on its own account:

                     (a)  a body corporate that is incorporated for a public purpose by an Act;

                     (b)  a body corporate that is incorporated for a public purpose by:

                              (i)  regulations under an Act; or

                             (ii)  an Ordinance of an external Territory (other than Norfolk Island) or regulations under such an Ordinance;

                            and is prescribed for the purposes of this paragraph by regulations under this Act.

             (2)  None of the following are Commonwealth authorities :

                     (a)  Corporations Act companies;

                     (b)  corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 ;

                     (c)  associations that are organisations (within the meaning of the Fair Work (Registered Organisations) Act 2009 ).

             (3)  For the purposes of subsection (1), all money that a body holds is taken to be held by it on its own account, unless the money is public money as defined in section 5 of the Financial Management and Accountability Act 1997 .