Commonwealth Consolidated Acts

COMMONWEALTH BANKS ACT 1959 - SECT 108C

             (1)  This section has effect for the purposes of the laws of the Commonwealth, a State or a Territory. However, the effect of this section is subject to any express provision in the law concerned that refers specifically to the Corporation.

             (2)  The Corporation is to be taken:

                     (a)  not to have been incorporated or established for a public purpose or for a purpose of the Commonwealth; and

                     (b)  not to be a public authority or an instrumentality or agency of the Crown; and

                     (c)  without limiting paragraphs (a) and (b), not to be a public authority under the Commonwealth for the purposes of the Crimes Act 1914 .

             (3)  The Commonwealth is to be taken:

                     (a)  not to have a controlling interest or substantial interest in the Corporation; and

                     (b)  not to be in a position to control the Corporation.