Commonwealth Consolidated Acts Commonwealth Consolidated ActsA 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.