INCOME TAX ASSESSMENT ACT 1936 - SECT 24AP Second way in which a body can be an STB
INCOME TAX ASSESSMENT ACT 1936 - SECT 24AP
Second way in which a body can be an STB(a) it is established by State or Territory legislation; and
(b) it is not a company limited solely by shares; and
(c) the legislation provides that it must distribute all of its profits (if any) only to one or more government entities; and
(d) if the legislation makes provision as to the way its net
assets may be distributed if it is dissolved or wound up--the provision is
that, if it is dissolved, all of its net assets (if any) must be distributed
only to one or more government entities.