Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 88AA

Application of section 88 to certain bodies

88AA. Application of section 88 to certain bodies



(1) Despite anything to the contrary in section 88, the Treasurer may give a
direction under subsection (1) of that section to a State body in respect of a
financial year beginning on 1 July 1994 or any later period.

(2) If a direction is given to a State body in respect of a period referred to
in subsection (1), the State body must comply with section 88 in respect of
that period.

(3) In this section-

State body means-

   (a)  a State owned enterprise; or

   (b)  a statutory corporation in respect of which a declaration under
        section 88A is in force- being a body that, before 1 July 1994-

   (c)  was liable to pay income tax to the Commonwealth but that ceased to be
        so liable on that date by reason of being an STB within the meaning of
        Division 1AB in Part III of the Income Tax Assessment Act 1936 of the
        Commonwealth; or



   (d)  was liable to pay sales tax under the law of the Commonwealth in
        respect of goods supplied to it but that ceased to be so liable on
        that date by reason of being an STB within the meaning of item 126A of
        Schedule 1 of the Sales Tax (Exemptions and Classifications) Act 1992
        of the Commonwealth.