Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 24AP

                   A body is an STB if:

                     (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.