WHAT IS QTC?
QTC is established by the Queensland Treasury Corporation Act 1988 (QTC Act) as a corporation sole.

WHAT IS A CORPORATION SOLE?
A corporation sole is essentially a corporation (a company) that consists solely of a nominated office holder. In QTC’s case, the Under Treasurer of Queensland is that nominated office holder. The more usual type of corporation has at least two members and those members are appointed personally.

DELEGATION TO THE BOARD
The Under Treasurer has delegated his powers under the QTC Act to the Capital Markets Board.

CORPORATIONS ACT
Unlike most companies, QTC is not established under the Corporations Act, but rather is established by the QTC Act. Further, QTC is not subject to the Corporations Act because the QTC Act specifically states that QTC is excluded from the whole of the Corporations Act.

IS QTC A STATUTORY BODY?
Some legislation, such as the Financial Administration and Audit Act, includes QTC in its definition of a statutory body. However other legislation, such as the Statutory Bodies Financial Arrangement Act, does not include QTC within its definition of a statutory body. Therefore, whether QTC is a statutory body depends on the scope and purpose of the legislation that defines what constitutes a statutory body.