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2. Private (all other units).
For the purposes of the Public/Private classification, government control of corporations is assessed against the criteria outlined in 'Key Concepts'. This does not include government regulation of an industry or group of entities. Similarly entities created by legislation are not necessarily controlled by government. Government authority to determine the general policy of a corporation usually comes from legislation that is specific to the individual corporation over which control is exercised.
Instances can arise in which the public and private sectors share ownership of a corporation. In such cases, the corporation is allocated to the sector that has effective control over the activities and policy of the corporation.
SECTOR 1 – PUBLIC SECTOR
The public sector comprises:
The private sector comprises all resident units operated by private enterprise, except those controlled by government.
1218.0 - Standard Economic Sector Classifications of Australia (SESCA), 2008 (Version 1.1)
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/09/2013