(1)  Unless this or any other Act expressly provides otherwise, a Relevant Corporation –

(a) is not and does not represent the constituent councils or the Crown; and

(b) is not exempt from any rate, tax, duty or other impost imposed by or under any law of the State or the Commonwealth merely because a constituent council or a Regional Corporation has beneficial ownership of shares in it.

(2)  The Crown is not liable for any debt, liability or obligation of a Relevant Corporation.

(3)  A council is not liable for any debt, liability or obligation of a Relevant Corporation unless –

(a) that council gives a guarantee or indemnity under section 38 in relation to that debt, liability or obligation; or

(b) in the case of a Regional Corporation of which that council is a member, the constitution of that Regional Corporation expressly provides otherwise.