STATE OWNED CORPORATIONS ACT 1989 - SECT 9 Status of company SOCs

STATE OWNED CORPORATIONS ACT 1989 - SECT 9

9 Status of company SOCs

A company SOC or any of its subsidiaries--

(a) is not and does not represent the State except by express agreement with the voting shareholders of the SOC, and

(b) is not exempt from any rate, tax, duty or other impost imposed by or under any law of the State merely because it is a company SOC, and

(c) cannot render the State liable for any debts, liabilities or obligations of the SOC or any of its subsidiaries,